desertjoe
13 Jun 2016
Re: NEW ARTICLE: Share of the week: A winnin... LOL! Some Winner indeed!
II Editor
27 May 2016
NEW ARTICLE: Share of the week: A winning bank "Even as global growth concerns whip up whispers of a recession and the upcoming EU referendum causes great uncertainty, LSE:ALD:Aldermore has had a smashing month on the stockmarket. Shares in the £760 million challenger bank are up as much as ..."[link]
Callun
13 May 2016
Q1 statement A very positive Q1 statement was issued yesterday, followed by an upgrade by broker Peel Hunt to "Buy" from "Add". Initial market response was good but not sustained. SP still in the doldrums. What's keeping ALD out of favour? Politics? Brexit?Callun
Yertiz
17 Mar 2016
Re: Final results Onesavingsbank released results today - similar company to Aldermore with increased profits, BTL book healthy and a positive outlook, yet OSB went up today by 18%, ALD went down on their results.....Mr Market is being more than just fickle, methinks.
claude reins
11 Mar 2016
Re: Final results Join the club on reading accounts! Thats why it is good to be on a constructive BB but it would be even better if there were more of us!
Callun
11 Mar 2016
Re: Final results Thanks for putting me right on that. Deciphering details of accounts is not my strong point, but I should have been able to read the headlines!
claude reins
11 Mar 2016
Re: Final results As ever thanks for your very useful analysis and comments.Re the divi, yes I agree it would have been useful. As for the other co0mments you make, I believe the headlines in the Final Results address this, do they not? See below for Return on Equity, both achieved - 19.7% - and what they expect - high teens, whatever that means! - after the introduction of the new tax. On the other hand, I may be barking up the wrong tree!!!!Delivering strong, sustainable returns· Earnings per share grew by 75% to 22.7p (2014: 13.0p)· Return on equity increased to 19.7% (2014: 13.5%) Net loans up by 28% to £6.1bn; c71,000 customers, up by 27%· Asset Finance +29%; SME Commercial Mortgages +50%; Buy-to-Let +18%; Residential Mortgages +42%· Third largest net lender to UK SMEs under Funding for Lending Scheme in 2015· Record origination of £2.6bn; up by 10% on prior year (2014: £2.4bn) Innovative online deposit franchise funds lending growth; c124,000 customers, up by 18%· Total deposits up by 29% to £5.7bn (31 December 2014: £4.5bn)· SME deposits within this, up by 37% to £1.4bn (31 December 2014: £1.0bn) Strong capital position maintained· Total capital ratio of 15.1% (31 December 2014: 14.8%)· CET1 capital ratio of 11.8% (31 December 2014: 10.4%)· Leverage ratio of 7.3% (31 December 2014: 6.3%) Confident of continued strong delivery· Nominal net loan growth expected to continue to be in line with recent run rates· Return on equity percentage expected to be in the high-teens following introduction of UK bank tax surcharge· Fully loaded CRD IV CET1 capital ratio to remain around 11%
Callun
11 Mar 2016
Re: Final results Hi claude reins,Just checked back to the IPO ads where the dividend policy is explained thus:Aldermore will consider subject to, inter alia, available distributable reserves, paying an initial dividend from 2017, taking into account the growth opportunities available to Aldermore at the time.The Board intends to review, on an ongoing basis, Aldermore’s dividend policy in the context of the delivery of Aldermore’s strategy, regulatory capital requirements and the broader operating environment.Hence, having made this statement it would have been comforting to know if management still held this view, and what the present forecast divi might be, but i can't find a word on the subject.In the "Highlights" section of the ad, it states: The Company is targeting a return on equity of close to 20% by the end of 2016.Assuming that by this they mean earnings per share, currently 22.7p, that will need an 80% improvement in this year, based on the current SP. Or am I barking up the wrong tree here?Regarding broker forecasts,JP Morgan Cazenove today reaffirms its overweight investment rating on Aldermore Group (LON:ALD) and raised its price target to 275p (from 270p).Callun
claude reins
10 Mar 2016
Re: Final results PS Callun. It is perhaps a bit early to talk about divis when there are these uncertainties and particularly so soon after the IPO. I am more interested in sustained growth in the SP, and less bothered at this stage of the bank's development in divis. Given the PER and PEG, I will be surprised if the SP doesn't respond in the next few months. Maybe it will take another set of interims to reinforce this very strong message, which I believe beats forecasts in many respects? Not sure what brokers were forecasting, are you?
claude reins
10 Mar 2016
Re: Final results Not sure how these results could have been bettered. Of course, I was interested in the Outlook comments and of course there are some potential headwinds, largely placed there by George Osborne since the IPO. It appeared to me that the comments made by Monks were as positive as they could be. Any comments from others on this BB? Really dont see why the SP has fallen today.
claude reins
10 Mar 2016
Re: Momentum Investor top pick So how do these results today relate to the basis for the TMI conclusions you reported 22.2.16?
Callun
10 Mar 2016
Final results These appear to be a good set of results and the initial market reaction was positive and strong. However, sentiment faded rapidly and the SP has now turned negative. What more was expected?Phillip Monks, CEO, commented:"It has been an excellent year, both operationally and financially, for the Group. We have delivered record levels of profitability with our profit before tax up by 88%. Today's results clearly demonstrate our continued focus on delivery across a range of key metrics ..."He also commented :"We remain confident of our ability to deliver continued strong profitable growth and attractive, sustainable returns for shareholders."I would like to know how those returns to shareholders are to be achieved, given that there is no mention of a dividend payment, and the SP is about par with the float price. Anyone know what the divi policy is?Callun
Yertiz
22 Feb 2016
Momentum Investor top pick Big write up in TMI suggesting ALD is dirt cheap and oversold. Lots happening which will affect the SP (upwards). Not going into details as I and many others who subscribe to TMI pay for the info. Suffice to say, they tend to pick decent winners 60 - 70% of the time.
oggs
21 Jan 2016
Re: anybody there? watching - but with fingers over eyes
claude reins
20 Jan 2016
anybody there? No other messag
