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Yes very positive indeed Tick Tock
Capital Network Note available via PCF web site. Very positive reading in my view. Page 1: "We therefore believe the shares could be worth 50p."
The "42p target price represents 0.6x the £145m portfolio we forecast PCF will report for September 2017". With a "target portfolio of £350m in three years time" I'm not surprised that Stockdale "expect to upgrade (their forecasts) in due course". ;-)
19/7/17 Stockdale note confirms its 42p target price and buy rating.
IMO given the following included in the RNS the current SP represents remarkable value and today's increase probably marks the start of a continued move North. GLA "New business originations in FY17 Q3 were up 20% on the corresponding period last year, with the quality of the loan book further improved" "The Board now expects the Group's performance for the year ending 30 September 2017 to be slightly ahead of its previous expectations for profitability and portfolio quality" "with a target portfolio of £350m in three years and £750m in five years"
Looks like the share price will respond to a good update about the bank
Excellent appointment IMO
Interesting, aren't those transactions at 23.40 'buys' rather than 'sells' ?? Tick Tock
Yes I agree, exciting times ahead IMO
Just had a quick look at the new Web site, looks good.
"Taking the first retail deposits remains on track for summer...... I look forward to updating shareholders with a new website, brand and launch of the bank in the not too distant future." (RNS 6/6/17) Tick Tock
I first bought into PCF about 5 years ago and I've added more shares when cashflow allowed. During that time, I've noticed a few things about PCF: - consistent and steady growth following the plans they set out each year - as far as I can recall, their results have always been equal or slightly better than forecast - there is no hype - they let their record do the talking - the share price dips shortly before results day, then bounces back up when the good news is confirmed If they can continue the same growth over the next 5 years, shareholders will be delighted.
6 June 2017 - research reports on PCF website: Panmure Gordon have a 38p target price, Stockdale 42p. Regarding Bermuda Bank, I can't recall seeing anything to suggest when they are going to offload some of their stake.
When will Bermuda Bank start to offload their majority shareholding? What is the strategic plan, anyone knows?
The business is solid and the company is heading in the right direction. I'm genuinely excited about the company's long term prospects, of all my holdings this is the one I feel will bring the largest long term rewards.
Yes I also liked "With other alternative lenders such as S&U and Provident Financial recently reporting strong motor finance trading we view the recent share price weakness as a good buying opportunity".
Interesting research note from Stockdale Securities yesterday 16 May - available on PCF web site. It suggests the weakness in the SP due to industry concerns which will not affect PCF and sees the current price as a good buying opportunity,
Including my top up Tick tock
"New car sales figures have been poor" Not according to this article in the Guardian. https://www.theguardian.com/business/2017/apr/05/uk-new-car-sales-record-tax-rates Looking to top up at below 22p GLA
I was half expecting this until news/confirmation of the Bank mobilisation but not too concerned at these volumes. The recent Director buy spoke volumes IMO GLA
Surprising weakness in SP. New car sales figures have been poor and possible regulatory pressure but probably an overhang from the placing? I'm accumulating at these prices.
ahead of the Group's primary objective to complete full mobilisation of the bank this summer. Looking good IMO
"It was also important to the Company to include an Open Offer element to the Placing, providing an opportunity for our minority shareholders to participate alongside institutions" How often do you see that? well done Scott, nice touch and much appreciated. Exciting times ahead.
Good progress, and he says growth could accelerate this year.
Worth a listen IMO https://www.pcfg.co.uk/news/News%20A%2010-03-2017