Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

“I Leap Up – Who Pulls Me Down?” – ‘The Tragical Hystory of Doctor Faustus.’ Ref: Lloyds Group.

By Malcolm Stacey

16 April 2015 01:54

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So Lloyds Bank (LLOY) shares have crawled ever so painfully and slowly above 80p again. We have already been in this territory several times.

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Comments

wildrides

16 April 2015, 03:45

I see your ONC has turned into a bagger Malc ……….. congrats
alcira16247

16 April 2015, 04:57

Malcolm

Your dead right the goverments holdings in the bank are real drag in every sense of the word!

However, longer term, in common with most of our banks, Lloyd’s are trading on a P\E 10.1, this represents tremendous value! Forecast profits next year, in excess of £5.5 billion. Dividend growing from this years 0.75p to 2.74p and 2016 4.24p. Nice!

Presently the sector is unloved but as the FTSE busts through 7100 and rockets after the election, the cheapness of banking stocks is going to be irresistible, expect major re-ratings as sentiment changes more positive on the back of an improving economy here and abroad.

At 80 pence, Lloyd’s shares are as cheap as chips!
Malcolm Stacey

16 April 2015, 08:06

Thanks, Wilders. My portfolio badly needed a real flyer – and hopefully the action for AVO is not over yet . But we all get nervous after a big hike. Even so, I’m hanging on for more.
Alcers – you’re probably right. They do seem cheap to me and the bad news which keeps coming has to , well, stop coming.