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https://www.lse.co.uk/SharePrice.asp?shareprice=VANQ&share=Vanquis-Banking
Vanquis Banking Group PLC
GBX 227.20
4.03%
+8.80 Today
Mar 6, 8:14:18?AM UTC · GBX · LON
Provident Financial plc is now Vanquis Banking Group plc.
https://www.lse.co.uk/rns/PFG/company-name-change-5bxz41nfb38wlou.html
I was expecting more confetti and balloons.
Hopefully at some point over the course of the next month they will put some effort into setting out their stall.
Be interesting to see if there's a bit of bounce once the trackers buy in
I’ve had a holding in PFG for a few years, since around Neil Woodford fund crashed. I’m conscious there shares been relatively flat and understand the gloom other holders may feel. Though I really do believe we are approaching a turning point here.
Since dropping their footy step loan business the greatest problem is now gone. The exceptional
Costs are have been reported and are in the past. The group is now reposition and prepared to take on
growth. This share will become a good and consistent dividend payer.
Also we are back into the FTSE250 and hopefully back into the FTSE100 in the future !
Prov Spin off International Personal Finance posting strong results today, with a 16% increase in divi and and SP that's not all that volatile compared to PFG. Wish we could see this kind of stable growth at PFG. Hopefully we finally see the ship turning this year.
In my own case I have enough PFG for now. Although I suspect it is under valued the only thing I know for sure is that communications and investor relations are very poor – so it is hard to be sure.
An incoming regime can’t do any worse in this area. So I’m glad to see the change. However if the outgoing regime has been misunderstood it is the last chance to clarify the record.
At this rate won’t get picked up by trackers as market cap will not be high enough
Not sure March 31 has anything to do with MLM's vision of PFG. PFG are moving from a niche player under MLM to a challenger bank under IMcL.
Amount of credit is very high at the moment so I understand the downward pressure on share price, especially with quite a lot of credit issued in vehicle finance
I don't mind the SP going down as I need to fill up my SIPP in the next 6 weeks
March 31st is MLM’s big opportunity to have his achievements noted for the record books and to set out the stall for PFG 2.0.
Should be interesting.
March 31st is MLM’s big opportunity his achievements noted for the record books and to set out the stall for PFG 2.0.
Should be interesting.
FTSE250 down 1.37%.....PFG down 7%. Again, any market dip and we are down at 5x the rate.
When FTSE250 up 1.4% last week, PFG flat.
This is part of the reason PFG ends up trading at a huge discount as this process forever repeats.
What I’d really like to see from PFG 2.0 is a complete reset with regard to market communication.
I’d like to see clear, conscise, consistent information.
I’d like to see guidance even if it exposes the company to accountability.
I’d NOT like to see meandering 300 page year end financial reports laden with number fudgery.
I find it quite a good investment strategy to do the exact opposite of what the small and mid cap analysts like Peel Hunt call for. Even when they are broker-analyst they get it wrong!
Come to think of it, Peel Hunt said on 26th after TU that PFG was trading cheaply and gave a solid view. Weird how in a week they become more pessimistic. Pretty sure PH used to be an advisor to PFG but got kicked off the role. Maybe this is some sour grapes
I see Peel Hunt have stuck the knife in today. They have no idea what they are talking about. PFG have supposedly reigned in risk and already have significant provisioning in place. They've had minimal growth in the year and Peel Hunt talking like they've trebled their loan book. Bore off guys.
Bwahahah. Yes. I just want a half decent price to GTFO of this share.
...and there we have it, the glory of holding PFG. Market up 3% yesterday, PFG flat. Market down today 0.7%, PFG down 4%.
It is up 85% in 2 months !
I am back in based on this positive momentum and the decent divi.
Hope it's better than last time when I lost 40%
These days kill me with PFG. FTSE250 up over 3%. PFG up 1%.
Look back to days when FTSE250 drops 2 or 3% - PFG drops 7-10%.
The recent rise was part market and part results expectation. But today just shows how annoyingly uncorrelated PFG is with market.
Should have been touching 270p throughout today.
I saw this in IC.
Thought it was very lazy journalism, as most stories that reference PFG are. Despite acknowledging PFG are no longer a doorstep lender, or even a sub-prime lender, he author want'ed to write about UK sub-prime debt and used PFG as a post to nail it to.
Hopefully once the VANQ name change does go ahead it might stop lazy journos Goolging 'sub prime UK lenders' and picking PFG as the subject even if completely none applicable.
Mostly states the obvious, but some coverage from Investors Chronicle:
https://www.investorschronicle.co.uk/news/2023/01/31/the-man-from-the-provy-has-gone-but-lenders-problems-have-not/
Looks like 17Feb is next cut off, with new index members announced 21Feb. With a fair wind for next 3 weeks we might eek in.
This is helpful for the Vanquis rebrand: https://www.marketscreener.com/quote/stock/PROVIDENT-FINANCIAL-PLC-9590111/news/Provident-Financial-PFG-named-European-Climate-Leader-AND-one-of-the-World-s-Most-Socially-Respons-42853414/
Hi Halifacts
I’ll keep my handle as is as a nod to nostalgia !
GLA as posts re FTSE250 helpful
Also Theborn, there are many pension funds who's investment policy will state the fund can only allocate x% of fund assets in equities in certain countries and sector. I've not seen many that allow investment in UK equity below FTSE250 level