Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sorry, meant 5% on Nav, which is what I’ve been reading. I do find the impact on the financial year income a little confusing as it would presumably need to be spread over the life of the loan book - which is why analyst are saying it would only reduce projected income by 2% next financial year.
Not following your 5% income projection comment.
Canaccord Genuity said: "We estimate this will result in an approximately 30% hit to consensus profit before tax in FY23 and circa 8% hit to NAV."
Would appreciate clarification.
Possibly Neil… it’s impossible to guess the bottom. All you can do is buy up as many shares in good companies when they are obviously and disproportionately depressed. This approach has served me well for years. Whether it drops a bit more or not, I’m happy to have averaged down by 50 p and, as I plan on being a long-term holder, am happy to reinvest dividends at these prices if they stay here. Oversold, undervalued… the terms are being bandied about for technical reasons: Well run, cash rich bank, with a P/E under 4, dividend yield of 10% (not counting special dividends), whose book is still projected to grow by 7% this year. It’s clearly a market over-reaction when a notice that income projections are being reduced by roughly 5% this financial year, results in a share price drops of almost 30%. That’s basically what the RBC analyst was saying… and I agree.
Famous last words.. its been over sold.. then it continues to drop
Is often true when it bounces back a little the same day but this didn't at all even when the markets picked up later on
Looks like it will stay around this new level for a while.
If ftse is down Monday I'd expect another 2/3% drop
Most analysts agree that it was massively oversold, and that it was “effectively a buying opportune” (RBC analyst). For most, the price target is now double the sp. I definitely took the opportunity to average down yesterday, as I’m sure many did..
It will be interesting to see what "adjustments" the largest UK residential mortgage provider, Lloyds Banking Group (incl. Halifax) & other residential lenders, Santander, Nationwide BS, Nat West et al do when they release their results.
Hardly. The EIR is subject to periodic review. It's yet another "benefit" of IFRS accounting.
At the outset of any new loan they are obliged to estimate the income that will be generated over the lifetime of the loan and to credit the estimated income to the profit and loss account over the period of the loan. What they are saying is that based upon current customer behaviour the furure expected customer income over the remaining lifetime of their loan book is now expected to be c£160-180m less than previously expected.
Because interest rates have been fairly benign until last year, there has been little or no change in the EIR in prior years (customers haven't been in any immediate rush to change from SVR to fixed rate products when their original fixed rate products came to an end). You've also got to factor in the likely impact of the recent agreement between the banks and the UK government which now enables customers to "book" a new fixed rate mortgage up to six months before their current deal come to an end.
You can probably expect regular EIR changes for the foreseeable future depending on how interest rates move.
Someone has been "sleeping on the job", very poor management imo.
Think the fall today is a bit much.
Now yielding 6.56%. Strong balance sheet to withstand present economic woes. Looks in a strong position. Good entry point for ISA and forget about?
The qualifying ex-dividend date was 23rd March so maybe your purchase wasn't recorded in time to qualify for the payout however, in that case your shares should have been cheaper by at least 21.8p. If not then chase your broker.
Hi All,
I have ii ISA account holding OSB shares bought on 23 Mar 23 but haven't received dividends yet in my account. Any idea why is that, whereas, the dividend payout date was 17th May23?
Fly my Little Beauty, Fly. Not sure why this rise (and more) did not happen last Thursday
Thursday 3rd November I believe.
I agree, seems a good time to pick up a bargain. Interim statement on 3rd November will be interesting .
Bargain basement time again - priced at less than 4 times earnings - even with the potential higher tax on banks this is an absolute bargain. Been a wonderful share since Day 1
Payday tomorrow. Lovely Jubbly
...and a lot else too. Bought Manolete, which is best in the only field which will coin it in these times.
.. not behaving itself! We have not even gone xd! Can anyone offer any logical reason, other than big boy(s) selling?
With interest rates only set to rise a lot in the medium term, banks can only go up in my reasoning. Or am I being too simplistic?
£6 breached, for a moment! Certainly one of my better holdings at present
...from 720 to 780!!!
wont be long now £6 and still undervalued
Rather nicely timed , for once"
Think these have much further to go and will benefit greatly from higher interest rates.