Member Info for BuyHold

There's a link on the PCF website, investors' page, to a Proactive Investors interview with PCF CEO Scott Maybury. Scott is very upbeat. One interesting point is that Azule has a 27% ROE, which will help improve PCF's ROE.

PCF taking on more senior staff -- hopefully the business is growing in line with plans: http://www.broker-world.com/news-details.php?ID=1817

Investor Graham Neary's website has an interesting interview he had recently with PCF's CEO Scott Maybury: https://nearyinvestments.com/2018/06/interview-with-scott-maybury-ceo-of-pcf-bank-pcf/

There's a link to the Capital Network report on PCF's investors' web page. I didn't see the link there last week, though maybe I missed it. The report includes the 55p share valuation.

Does this link not take you straight to the video? https://www.youtube.com/watch?v=f9hjsLy8cWo&feature=youtu.be If not, James Dolman reels off a lot of figures from the recent results. He doesn't mention the share valuation but, in his written report on the Capital Network website, he suggests 55p, based on EPS of 3.84p by y/e 2020.

There's a new interview with James Dolman from Capital Network -- link on PCF website. He runs through the latest reported numbers and then gives the rationale for the uplift in Capital Network's target share price for PCF.

Link to 25 May 2018 interview with PCF's CEO Scott Maybury https://www.youtube.com/watch?v=r4dN3fh7zh8&feature=youtu.beOr you can get the link from the PCF web site, investors page. Scott sounds very upbeat about future prospects and operational gearing, saying that overheads are mainly fixed and so any increase in turnover should have a big impact on the bottom line.

Some snippets from the RNS, which I found interesting: - Earnings per share was maintained at 0.8p (2017: 0.8p) and, as the lending portfolio grows against a largely fixed cost base, we will deliver increasing profitability. - The next development for our savings platform is the introduction of a range of products for corporate customers and this is expected to be launched later this year. - The largest increase in new business originations came from our Business Finance Division, where new volumes increased by 111% to �41 million (2017: �19 million). This builds on the impressive performance in the previous year and for the first time saw Business Finance become the largest part of our lending portfolio. - We are well positioned for continued growth and for the achievement of our 2018 strategic priorities. Our focus can then turn to a strategy of diversification.

There was another interview, commissioned by PCF, on Tuesday 8 May with James Dolman of Capital Network. You can see his research notes on the PCF website, investors section. To listen to the interview you have to register on the Capital Network website, which I did without any hassle. I guess the interview might have sparked some of this week's interest, though I wouldn't say there was very much new in it for those who have been following this share closely. Nevertheless, definitely worth a listen.

I agree your analysis RazorShultz. Here's a recent interview with the FD, which I only spotted today. http://www.proactiveinvestors.co.uk/companies/stocktube/9068/pcf-bank-sees-retail-deposits-exceed-100mln-9068.html

In the AGM trading statement, the lending portfolio was reported to be at �172m at 28 February 2018. The 5 December 2017 Stockdale research note (see PCF website) suggested a 42p target price for PCF, based on a ratio of 0.6 of the 30 September 2017 year-end lending portfolio. If Stockdale were to set a new target price, based on the same methodology and the �172m receivables at 28 February, they would presumably calculate the target price at nearly 50p -- assuming the same number of shares in circulation [172/146 x 42p = 49p ish]. The target price could go higher if they wait an extra month for the half year results to 31 March. Also, I wonder whether this rate of portfolio growth can be maintained over the next 6-12 months? Stockdale's target price could really jump up -- and, hopefully, the share price would do so too. Or am I missing something?

I agree with your analysis RazorShultz. Also, as Ben Graham said, in the long term the market is like a weighing machine. If PCF can continue to deliver on its plans, as it has in recent years, the projected growth in eps will produce a substantially higher share price.

The writer says that the current market cap was at a 50% premium to book value at the time of writing. He generally doesn't like to invest in those circumstances, unless he's confident about the company's ability to generate an attractive return on equity in the foreseeable future. However, he says he has invested, from which I'd assume that he does have some confidence.

You can log in / register for free -- no paywall. I'll take another look later and summarise.

Interesting article on PCF: https://www.stockopedia.com/content/small-cap-value-report-fri-8-dec-2017-cer-xaf-prv-pcf-251048/

I'd agree with that . Now to the next stage: scaling the business. And the good headway on deposits bodes well for improving margins.

Excellent update from PCF this morning.

Yes, I've topped up recently and that was shown as a sell too.

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."

19/7/17 Stockdale note confirms its 42p target price and buy rating.