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Richmond Group go over 3%, interesting action today a super volatile stock normally can stay in a 1p trading range all day on good volume so working a seller but with plenty of support to keep the price level. So I hope they carry on edit...another Rns Richmond have bought loads more and doubled up
Below cash, good director buying after warning, what has caused the drop today, broker downgrade maybe ? big seller at any price maybe, not one bounce since this morning, just lower and lower all afternoon
Thinking exactly the same fella
This is getting slaughtered, buying just seems to be getting brushed aside and then the price hits another day low on the sets system, you keep thinking it will bounce then it drops another 2-3p getting painful this
They seem to be milking this fall on low volumes, Been picking up small lots from 154p downwards just got more at 145.6p where is the bottom today ?
Thoughts for opening this morning? Will we continue the rise up to the revise figure c.230 or will we stagnate at these levels?
Thanks both - that makes a huge amount of sense. Sadly I don't have a huge amount to invest, having backed a wrong horse a while ago that is still suspended (not WRN though!), but it definitely seems worth a purchase at these prices. I also saw a recommendation for it from a broker firm on Friday, which was anticipating an up to 30% upside within 6 months (and that is when it was at 235p). They analysed that SMEs would most likely need more strategic banking support to re-orientate to the new reality.
Well oversold and it has a very good Property Loan Book. Lending to Property Professionals has its advantages - good mix of security and Shawbrook have only ever leant a maximum of 75% LTV on Residential Security - they are more prepared for a property crisis than other Banks (who on owner occupied residential have been lending upwards of 90% (again)!!! The Asset side was only purchased to have an offering in that market - Shawbrook have tightened the book on this in last 6 months and now i understand why - last year it pretty much was a seperate entity Positive is they have come out - Business as Usual and appetite hasn't dwindled since BREXIT
£9m impairment is short term and will soon be history. Look at Net rofit Margins; they can take it.... The issue has come to light quickly (possibly as a result of the most recent Director appointment?) But damn,what a time to reveal it. Oversold? Absolutely. This is a retail/commercial bank with a good spread of risk geographically and materially.(65% LTV across all security) Bear in mind that other banks who want to lend to the same target customers have just been hit by the currency drops because they (Barclays, Lloyds, RBS etc) all have investment divisions, so one would expect Shawbrook to be better positioned going forward to lend using deposit funds, and less exposed to a lack of investor confidence. Even though I've lost thousands on this stock, I'm buying more. its just going to take longer to realise returns.
A 45% drop in two days is enormous, even with the two cataclysmic events that just happened/came to light. Does anyone think this has been oversold?
Interesting. Surprised at those large sells this morning at 119/120p when sp now bounced back to nearly 150p. Anyone buying in at 120p would have done well.
Did they know something ?
**NOT prepared to make the same mistake
well according to their accounts, aggregate loan to value % across all security is 65%. Add to that they are a retail bank only. How much safer can a bank get? compare this to the liquidity of Northern Rock pre credit crunch, and you realise these guys are prepared to make the same mistake
Maybe. It also depends on your view of the quality of their loan book and the likelihood of interest rate rises in the (investors') foreseeable future. Any interest rate hike is likely to put pressure on loans where the borrower did not tell the truth, the whole truth.... As if anyone would lie, of course, when trying to max out the amount they can borrow. GS
any opinion is guys? is this drop purely Brexit based? 1st time buyers are struggling to buy which is creating a very healthy BTL marketplace for lenders like Shawbrook. Investors are dealing with tax changes by buying properties in Ltd companies, and counteracting the tax changes there Mortgage Advisers are now forced by regulatory measures to offer customers who remortgage, 2nd charge mortgage option; Shawbrook are high profile in that market place too, and are rolling out new tech to make the process easier for mortgage advisers. Circa 40% Margin? surely this is a good buy now?
Buy BP instead, watch these along with Curtis Bank but the spread is outrageous on CBP so go well inside
Came across an old nov 2015 city AM press article mentioned about Shaw and ALD, if I am to buy few of these shares, which one should I go for? Advice appreciated here!
Good press coverage generally. I hear the analyst meeting went well. Tom W is developing a bit of a fan base- he is a no-nonsense Scot. Apparently has another N-NS as his PR adviser who knows the markets,and they have their heads screwed on. This will be a slowburn, but I expect the price up by 30% over the next year with very little risk of downside Bought some more Friday..
Shawbrook’s pretax profits leap in tough environment: Certain parts of the property market have become bumpier, according to Shawbrook, the challenger bank.
Could not agree more. That's where my shares are. I think the sp has been held back by a combination of the Budget and China. What people forget is that this is a modern, slim banking operation which is very much faster on its feet than its larger competitors. Which is why profitability and originations were both up so strongly and look set to continue. It is also being followed by SCSW which always helps.... GL GS
Happy holder- business clearly doing well, encouraging results. Tom Wood seems to have grabbed the reins and is driving the business forward. IMHO this is a stock to buy, and put away in a locked drawer. Consolidation in this sector will come- and this looks to be one of the businesses that a buyer will pay a premium for.
This and Aldermore are oversold 360 & 285 are nearer the valuations these are buys at these levels IMHO GLA
New challenger banks taking a fall after the chancellors tax raid! 8%tax of profits with no end makes me wary of these new banks now
Looks overpriced now on figures. Have taken profits and will look at it again if it drifts down.