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Since 19th March and Vanq down 18%, seems strange except size - small cap easy to bully.
Don’t expect a rate drop anytime soon this will have an adverse affect on the SP .. hot inflation figures in the US today as I predicted over a week ago will spill over in the UK market… just don’t believe what you read about UK inflation, it’s still there, the government is trying to paint a rosy picture.
Want to reiterate what LWHL just said. No problems on IG index.
Well that is simply not true, because I did.
As to whether this is going to be profitable for entrants in and around current levels, time will tell.
I hope so naturally, but I take nothing for granted.
I am going to call out misleading statements though, which is disappointing to read on these generally excellent forums for opinions and ideas. GLA.
Good luck but this is gambling territory. I remember posters saying it could not go below £10 and then again below £5. It has not been possible to open an opening position on IG index, in either direction, for over a week now which is very unusual and not a good sign.
Guys,
Hang in there I know your pain, been in LLoyds for 15 years and still down 20%. So you can imagine my absolute anger and disappointment but hey ho its done.
I think this is mega oversold to the point yesterday i bought 30400 pounds worth as this may help bleed off some of my Lloyds long terms disaster. So normally when i buy the share drops it did a little I got in at 47.70 approx.
Lets see how it goes i hope for 50 by end of the week or more.
I truly wish you all the best, especially those who were in at the crash my honest opinion based on similar crashes this could take 4 to 5 years to recover.
I was trapped for 15 years, free yourself and buy and sell a little to help speed up your recovery.
I have read some of the excellent posts and favour more the positive outlooks unlike my faith in LLoyds i think here is a BoD with a plan.
30400 is not a mega amount but i see mid 40s as the lowest this can go and around 56 the highest this can go in the next few months- more would be better.
Well said Mary. This is by far my most exciting stock for the medium to long term.
Thank you all.
Well said Mary…
Main thought on your post is the title is missing a zero. It should be 250p.
I will not subscribe to posting any further on this thread.
Other thoughts are
#12 posts in 9 years
# have you read the points on this thread
# what is your agenda
# directors are buying loads
# shorts are closing
# the fix is already in
# action has been taken by management
# this will hit 250p
Final comment
Strong buy DYOR.
I've been watching Vanquis for a while now. There are a few little bits that are of interest (just an opinion, not financial advice):
1) Write-offs (debt sale) - - (217.3) (which is hiding an increased stage 3 receivable from customers) this is cash out the door and doesn't look like it'll get better.
2) Investors and Vanquis should always be worried about the FCA, once they have finished with Motor Finance, they'll move onto something else.
3) Increased cost of living still isn't over, even if base rates fall, does it impact this market? Will we see easing for this segment? Another little red flag which will feed further write offs and will further reduce equity.
4) P:B has been at about 0.25, which is an absolute bargain, but the company has been dying for years now and I can't see any quick fix.
5) In an environment where top banks are offering 6%+ divi and a P:B of 0.74, why would you invest in Vanquis? Further killing future growth.
6) There's now an option to stick your cash in the bank and get a decent return, shareholders need a bit more than whats on offer here.
Max 2024 dividend of 1p*, increasing defaults, high regulation, competitors that are well priced, losses and a bad market backdrop. The company definitely has potential, it just needs one or two of the above to go its way, until then I don't see how it can be worth anywhere close to £1. 40p's probably fair, 25p and I'd consider it.
25p with a 1p dividend would give it a 4% yield, £63m market cap, sounds low but they couldn’t even cover operating costs last year (that’s with a lower base rate). Base rate is 5.25% and arrears probably won’t drop given base rates and cost of living. It just feels like there will be more pain leading to additional margin pressure in 2024.
I'd really love to hear your thoughts.
*The Board proposes a final dividend of 1.0p per share for 2023, subject to final regulatory approvals. The Group also signals its intention to pay a dividend of up to 1.0p per share for 2024.
Will it hit 43p?? I've kept what I have and am still waiting the next move, 50p was obvious head fake, where is the bottom? There will come a point soon to bite the bullet and in on a larger scale. CPI distraction tmz, 15th AGM there is room for questions, see if Mary crops up and a a few others on here. Would be nice to get divi done and update on rouge CMC tweeaat. GLA
Thanks it is to me intriguing because it is so consistent
Lance, there could be a large buy order they want to fill but it is sitting a couple of pence below where we are so the price is being worked down, taking out stop losses etc on the way. Just speculation on my part.
I reckon if I opened a short here, within minutes we would see a bid announced at multiples of the SP :)
IMO, we are just range bound right now; as long as we do not fail a retest of the low - if indeed we even do see that level again - then the thesis is sound. Hopefully anyway! lol. GLA.
Your addition and mine probably sends it downwards . My experience too
Large seller in the background, or an increasing short, perhaps?
I also added, so it could well be that :)
Can anyone enlighten me . Why are there consistently more buys than sells yet the price steadily decreases? Forgive my ignorance
And looking for mid 50's with this tranche hopefully. Before or after the little dividend will be fine :)
Will likely take a final slug if we see a retest of the low 40's on nothing specific....but would be happy not to have the chance frankly! GLA.
Many thanks.
Hope your optimism is well founded.
Nope 1p for the next year, this is a turnaround opportunity and a buy in now may equate to 30% future reurn if all the ducks line up.
Is this really delivering a 30% yield?!
Not many Chairpersons visit offices - ‘Since joining the Board in April 2023 and taking over as Chair in September, I have visited all of our offices several times, meeting colleagues and seeing first hand their commitment to customers. It has also been a real pleasure to work with Ian McLaughlin. His impact from day one has been nothing short of inspirational. He has strengthened the executive team, with the appointments of Dave Watts as CFO, Jill Armstrong as Chief Customer Officer (CCO) and Jem Walters as Chief Technology Officer (CTO), overseen the successful acquisition and integration of Snoop to the Group, led by John Natalizia, and embarked at pace on a plan to reset, redefine and reinvigorate our business with the passion of someone with a career-long commitment to retail banking.’
Following a 30 year career in finance and banking, Sir Peter now holds several non executive and charitable appointments in banking, digital innovation and skills. These include chair of Vanquis Banking Group plc, non-executive director, Rothschild & Co & NM Rothschild Ltd, non-executive director of the Institute of Apprenticeships; chair of FutureDotNow – a coalition of nearly 200 UK businesses promoting digital skills, and chair of the Association of Apprentices – the national association for apprentices, led by apprentices. In addition Peter is Vice President of Bridewell Royal Hospital, an ancient foundation supporting children in need of a boarding education, and a Patron of Onside Youth Zones. Peter was knighted in the 2020 New Years Honours for services to International Business, Skills and Inclusion, having served the office of Lord Mayor of the City of London in 2018/19, Sheriff of the City of London in 2016/17 and served as an Alderman since December 2013 for the Ward of Coleman St.
What a top person - gives Vanq massive credibility, we are lucky to have him. An ESG man throughout..
My takeaways, no real surprises..
Another chunky tranche of impairments from credit cards going to be realised this year.
Headcount reduction well ahead of target, so cost savings should exceed original plan.
Revenue looks sound
App may be generating noise, buts that's all it generated to year end
Chairman staked 100% of his his salary buying in
CEO does have a chunky performance component but won't be crying poor if he misses out.
Solvency etc all good
160+ pages, anyone else?
Another friday sell off ??
Great to see 345,000 @ 54p / 56p - certainly they seem confident now.