Bank of Ireland shares

Mad_maxx

Il buy when they hit 3.50 , the overall market is due a correction as its incredibly over bought even in europe , the banks always drop back harder , could take months but usually happens before October

Bank of Ireland hit an absurd low in summer of last year but it has seen falls of over 30% on an annual basis since brexit so a fall to 3.50 is not so outlandish , if it never happens, terrific

i was in from 1.50 to 2.90 and in AIB from a euro to 1.65 last year , small gains relative to what many here made

Bass Reeves

Mad_maxx wrote: »

Il buy when they hit 3.50 , the overall market is due a correction as its incredibly over bought even in europe , the banks always drop back harder , could take months but usually happens before October

Bank of Ireland hit an absurd low in summer of last year but it has seen falls of over 30% on an annual basis since brexit so a fall to 3.50 is not so outlandish , if it never happens, terrific

i was in from 1.50 to 2.90 and in AIB from a euro to 1.65 last year , small gains relative to what many here made

The only thing is if BOI get A rated its value will climb as fund money buys into it. It may well be that the government have an inkling that this will happen by August. In August as well it is quite possibly that it will announce the return to paying a dividend for 2021 if it decides to pay an interim dividend then depending on the amount it will have a positive to very positive impact on the share price.

Personally I think it's a buy at present it may or may not have bottomed out. It's unlikely that the government will sell shares before October there for rating's and dividend policy will drag price upwards

Mad_maxx

Bass Reeves wrote: »

The only thing is if BOI get A rated its value will climb as fund money buys into it. It may well be that the government have an inkling that this will happen by August. In August as well it is quite possibly that it will announce the return to paying a dividend for 2021 if it decides to pay an interim dividend then depending on the amount it will have a positive to very positive impact on the share price.

Personally I think it's a buy at present it may or may not have bottomed out. It's unlikely that the government will sell shares before October there for rating's and dividend policy will drag price upwards

im out of the stock and the story for a long time at this stage , if it gets to 3.50 , im in , if not , no matter and up may it go

bankboucy

BOI, in my opinion, is going to 8 euro in the next 12-18 months........not sure what people want in investment - nearly 100% in a year or two should be everyones dream

cute geoge

BoI share price has a volitile rollercoaster past .I bought in the last dip to even up purchases bought dearer when it was tipped that sky was the limit.I am up now ,you would not want to be depending on it

Bass Reeves

bankboucy wrote: »

BOI, in my opinion, is going to 8 euro in the next 12-18 months........not sure what people want in investment - nearly 100% in a year or two should be everyones dream

I am not sure if it is going to reach that level that fast. However I think it's unlikely to dip below 4/share. I actually think it may have bottomed out at present. I think it will rise a bit before the government share sake and that it will climb again after that

Bass Reeves

cute geoge wrote: »

BoI share price has a volitile rollercoaster past .I bought in the last dip to even up purchases bought dearer when it was tipped that sky was the limit.I am up now ,you would not want to be depending on it

It was a rock solid performer up until 2008. Then the bad management accross the Irish banking system ( it was not the worst) caused mayhem. It recovered the strongest of any Irish Bank but Brexit really stymied it progress.

COVID amplified the effects of Brexit on it and AIB.

Mad_maxx

Bass Reeves wrote: »

It was a rock solid performer up until 2008. Then the bad management accross the Irish banking system ( it was not the worst) caused mayhem. It recovered the strongest of any Irish Bank but Brexit really stymied it progress.

COVID amplified the effects of Brexit on it and AIB.

Pre 2008 is irrelevant, banking has changed across the board since

Bass Reeves

Mad_maxx wrote: »

Pre 2008 is irrelevant, banking has changed across the board since

It has but it's the management ethos within any company that is important. AIB had 2-3 Fiasco's pre 2008 that the government bailed them out of. They tried to match Anglo, BOI got sucked in trying to protect market share.

It always has a fairly conservative management. Everything changes its the management ethos that is important

Mad_maxx

Bass Reeves wrote: »

It has but it's the management ethos within any company that is important. AIB had 2-3 Fiasco's pre 2008 that the government bailed them out of. They tried to match Anglo, BOI got sucked in trying to protect market share.

It always has a fairly conservative management. Everything changes its the management ethos that is important

its too conservative , its not a dynamic bank on any level or an especially ran well business , margins are extremely tight in banking and especially so in this country

bankboucy

COVID loss provisioning is going to be written back soon to book value, Davy acquisition will be accretive if it goes through....buybacks & dividends will start soon........big seller in the market for the next few months will put a cap on share price appreciation and I'd hope BOI is buying back from the government then. HOWEVER what you get after that in return is that Bank of Ireland will be the only fully private bank in a oligopoly market........where it is not inconceivable that Sinn Fein/ Pierce Doherty in the next decade could be Minister for Finance & therefore the largest controlling shareholder in the other banks AIB/PTSB.....what stupid stuff will SF make AIB/PTSB do then.........if your an international investor and like the Irish economy & banking dynamics here (who wouldn't) I know what my play would be.

In the future Bank of Ireland is the only rational private sector player not controlled by the Government in a political system that is tilting to the left.

Geuze

I am trying to establish how many BoI shares I have.

Here is my history:

2007 bought at 12.09 and 10.58
2008 bought at 6.90
2009 bought at 0.70

These seem all to be regular purchases, I ended up with 1,099 shares, okay.

2010 subscription for new shares - I subscribed at 0.55, 1648 shares
So 2747 shares, okay

2011 second new share offer at 0.10 - I did not subscribe

2014 purchase of 2,000 at 0.34, so 4747 shares, okay

Several years pass, I move brokers, end up with DeGiro.

2017 DeGiro statement = 4747 shares, okay

2021 = I now have 391 shares!!!

What happened?

Smee_Again

There was a reverse share split of, I think, 10:1.

carrickbawn

The share consolidation in 2017 was 30/1

Geuze

carrickbawn wrote: »

The share consolidation in 2017 was 30/1

Thanks

https://www.rte.ie/news/business/2017/0331/864210-bank-of-ireland/


https://investorrelations.bankofireland.com/app/assets/Circularincluding-Explanatory-Statement-of-the-Scheme-terms-of-the-Scheme-Notice-of-Extraordinary-General-Court-and-High-Court-Convened-Stockholder-Meeting.pdf

Geuze

carrickbawn wrote: »

The share consolidation in 2017 was 30/1

4747 / 30 = 158.23

And yet DeGiro says I have 391 shares?

EDIT: I bought 7,000 more shares at 0.23, problem solved.

rugbyman

Degiro has been wonky for a long time on up to date data for BIRG.
It now seems to have been brought up to date

Dinarius

Anyone care to speculate what affect the Davy purchase will have on BofI?

That aside, I cannot get my head around why Davy is being bought out at all.

D.

Rock Steady Edy

https://www.boards.ie/discussion/comment/117671678#Comment_117671678

According to last week's Sunday Times, BoI was keen to diversify its income stream away from non-interest income. Says Davy earned €32m last year, and is paying approx €600m for it.

Dinarius

I fail to understand how if, as has been widely reported, a company's reputation is damaged and it has to be sold, the buyer doesn't purchase it for peanuts.

How can those who were in situ when the damage was done make millions?

D.

Timing belt

https://www.boards.ie/discussion/comment/117671678#Comment_117671678

Because the forecast is for Low interest rates for longer which means that banks will struggle with Net Interest Income and by buying Davy's they have a business unit that charges fees (Non-Interest Income) that will provide a return regardless of whether interest rates remain low in the future or not.

Lets not forget that most of these type of business were originally owned by the banks before they sold them off to concentrate on Banking that was providing a better return at the time.

Rock Steady Edy

https://www.boards.ie/discussion/comment/117672256#Comment_117672256

The same article cites "healthy international interest drummed up by Rothschild and the skulking presence of Irish Life ensured a decent price". Once the entity is in someone else's hands, the issue of reputation is reduced because in theory the buyer overlays their oversight onto the new entity to reduce the risk of it happening again.

Again the same article says that BoI was "desperately seeking a stockbroker" and "if anything, this was a fire purchase". So it might well turn out that it has overpaid for it. You rarely get a good deal for anything if you put yourself in the position of being desperate for it.

Dinarius

Let's see if the final chapter remains to be written on this.

Dublin is a tiny town.

D.

garrettod

Looks to me like BoI have overpaid massively:

• They've bought a business with a serious reputational issue, so may struggle to compete for big new accounts, for a while.
• They've bought a business where important clients are exiting, so future income is likely to be less.
• 
  
• 
  

Did BoI panic, and think they had to but Davy, having seen AIB recently reunite with its old broker, Goodbody, perhaps?

Did BoI explore the possibility of buying another Irish broker, or perhaps even a European one, rather than Davy?

otterj

Why did the AIB price fall 5% today?

daheff

https://www.boards.ie/discussion/comment/117839424#Comment_117839424

the whole market is off over the Chinese company, Evergrande, on the brink of bankruptcy.

Timing belt

https://www.boards.ie/discussion/comment/117839424#Comment_117839424

Because of evergrande there was fear in the market which saw a flight to safety in gov bonds. This lowered the yield curve which makes it harder for banks to make money.

Easten

Government reduces holding again. Down to under 11% now, only another 118 million shares left to sell.

Bass Reeves

https://www.boards.ie/discussion/comment/117962311#Comment_117962311

Have they them sold or have they announced details if the sale

Easten

https://www.boards.ie/discussion/comment/117962593#Comment_117962593

Still have the 118Million left to sell, they've gone from 12% to 10.96% since the last time they sold which was about a month or more ago