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Coop Bank - Stocksmaster's 1st Play 2013
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guru267
#61 Posted : Saturday, May 11, 2013 7:38:48 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
mibbz wrote:
@stocksmaster thanks for the co-op tip, got in but thinking abt getting a second counter.what do you think abt pan Africa insuarance? Do you see price rising in light of sanlam take over?


The Sanlam takeover began back when we were at 39bob! Now its almost over since they were only planning to go up to 66% ownership!

Mark 12:29
Deuteronomy 4:16
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mibbz
#62 Posted : Saturday, May 11, 2013 8:19:22 PM
Rank: Member


Joined: 2/18/2011
Posts: 448
guru267 wrote:
mibbz wrote:
@stocksmaster thanks for the co-op tip, got in but thinking abt getting a second counter.what do you think abt pan Africa insuarance? Do you see price rising in light of sanlam take over?


The Sanlam takeover began back when we were at 39bob! Now its almost over since they were only planning to go up to 66% ownership!



They only managed to get 54%, they are still in the market for more to reach 60% after closure of books.read that in the business daily some time ago and I believe there is a thread somewhere onthe same
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guru267
#63 Posted : Saturday, May 11, 2013 8:50:22 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
mibbz wrote:
guru267 wrote:
mibbz wrote:
@stocksmaster thanks for the co-op tip, got in but thinking abt getting a second counter.what do you think abt pan Africa insuarance? Do you see price rising in light of sanlam take over?


The Sanlam takeover began back when we were at 39bob! Now its almost over since they were only planning to go up to 66% ownership!



They only managed to get 54%, they are still in the market for more to reach 60% after closure of books.read that in the business daily some time ago and I believe there is a thread somewhere onthe same


@mibbz the point here is that you are kind of too late to the party!
Mark 12:29
Deuteronomy 4:16
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mibbz
#64 Posted : Saturday, May 11, 2013 10:06:48 PM
Rank: Member


Joined: 2/18/2011
Posts: 448
guru267 wrote:
mibbz wrote:
guru267 wrote:
mibbz wrote:
@stocksmaster thanks for the co-op tip, got in but thinking abt getting a second counter.what do you think abt pan Africa insuarance? Do you see price rising in light of sanlam take over?


The Sanlam takeover began back when we were at 39bob! Now its almost over since they were only planning to go up to 66% ownership!



They only managed to get 54%, they are still in the market for more to reach 60% after closure of books.read that in the business daily some time ago and I believe there is a thread somewhere onthe same


@mibbz the point here is that you are kind of too late to the party!


@guru which insurance would you advise I dive in? Trying a mixture of banking and insurance
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guru267
#65 Posted : Sunday, May 12, 2013 9:55:53 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
mibbz wrote:
guru267 wrote:
mibbz wrote:
guru267 wrote:
mibbz wrote:
@stocksmaster thanks for the co-op tip, got in but thinking abt getting a second counter.what do you think abt pan Africa insuarance? Do you see price rising in light of sanlam take over?


The Sanlam takeover began back when we were at 39bob! Now its almost over since they were only planning to go up to 66% ownership!



They only managed to get 54%, they are still in the market for more to reach 60% after closure of books.read that in the business daily some time ago and I believe there is a thread somewhere onthe same


@mibbz the point here is that you are kind of too late to the party!


@guru which insurance would you advise I dive in? Trying a mixture of banking and insurance



I've said time and again, the insurer offering best long term value on the NSE is still Kenya re!
Mark 12:29
Deuteronomy 4:16
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Ericsson
#66 Posted : Monday, May 13, 2013 12:41:29 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Co-op bank will report stellar results this year and might even overtake stanchart in terms of profitability to take the number 4 slot.
The bank has closed on the following deals in the real estate market as the project financier;
--Shujaa Mall along New kangundo rd where Nakumatt is the anchor tenant
---Zuri Center in Thika where Nakumatt Thika has already set shop
---Blue Bells Apartments in Syokimau/Mlolongo;a real estate project by Safaricom Sacco comprising of 180 3 bedroom and 120 2 bedroom apartments

In addition to the above the bank (Co-op Bank)has banked another project;
---Spring Valley Business Park being developed by Suraya properties where the bank will be the project financier
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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guru267
#67 Posted : Monday, May 13, 2013 12:52:57 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Ericsson wrote:
Co-op bank will report stellar results this year and might even overtake stanchart in terms of profitability to take the number 4 slot.
The bank has closed on the following deals in the real estate market as the project financier;
--Shujaa Mall along New kangundo rd where Nakumatt is the anchor tenant
---Zuri Center in Thika where Nakumatt Thika has already set shop
---Blue Bells Apartments in Syokimau/Mlolongo;a real estate project by Safaricom Sacco comprising of 180 3 bedroom and 120 2 bedroom apartments

In addition to the above the bank (Co-op Bank)has banked another project;
---Spring Valley Business Park being developed by Suraya properties where the bank will be the project financier


And how do these deals compare to the deals that the top 3 banks have gotten so far??
Mark 12:29
Deuteronomy 4:16
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Ericsson
#68 Posted : Monday, May 13, 2013 7:22:57 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
@guru267:I have not heard any big deal in the real estate sector that the top 3 have banked so far.
The topic of discussion was how co-op will perform this year and whether their profit growth is sustainable.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#69 Posted : Monday, May 13, 2013 7:33:42 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
guru267;I've said time and again, the insurer offering best long term value on the NSE is still Kenya re!

I've said time and again, the insurer offering best long term value on the NSE is still Kenya Re then followed by CIC Insurance
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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guru267
#70 Posted : Monday, May 13, 2013 7:47:01 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Ericsson wrote:
@guru267:I have not heard any big deal in the real estate sector that the top 3 have banked so far.
The topic of discussion was how co-op will perform this year and whether their profit growth is sustainable.


Yes but you made a claim that co op will overtake Stanchart which made me wonder whether or not you were privy to the deals Stanchart had made so as to arrive at this conclusion?
Mark 12:29
Deuteronomy 4:16
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Ericsson
#71 Posted : Monday, May 13, 2013 10:01:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
@guru267;There is a difference between will and might.
Check my comment I said might.
The comment I stated was as below;

Co-op bank will report stellar results this year and might even overtake stanchart in terms of profitability to take the number 4 slot.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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heri
#72 Posted : Monday, May 13, 2013 12:48:16 PM
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Joined: 9/14/2011
Posts: 834
Location: nairobi
What would be the target price by Dec 2013. I bought some at 17.50 and have seen the share come down and wondering whether to wait before buying more as my plan was to buy more
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Ericsson
#73 Posted : Monday, May 13, 2013 1:59:48 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Co-op bank will also have a branch at Spring Valley Business Park
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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MaichBlack
#74 Posted : Wednesday, May 15, 2013 1:29:00 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,455
VituVingiSana wrote:
Well... Coop Bank might just see another Shs 25,000,000 in income/recoveries!
http://www.businessdailyafrica.com/Corporate-News/Court-orders-Erastus-Mureithi-to-refund-untaxed-pay/-/539550/1756386/-/152pfwi/-/index.html

This is what the wahenga meant when they said "usishindane na ndovu [ku-download]"

Mureithi pissed off the bank when he appeared on a Stanbic Advert!!! How does a sane former CEO of organization A appear on an advert for organization B which is in exactly the same business??? That has huge implications on what you are insinuating about organization A. Even without consulting you law books you should consult you common sense!!!

Some links from the past:

We are After You!!!

It's War!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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obiero
#75 Posted : Wednesday, May 15, 2013 8:57:10 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,516
Location: nairobi
heri wrote:
What would be the target price by Dec 2013. I bought some at 17.50 and have seen the share come down and wondering whether to wait before buying more as my plan was to buy more

@heri. relax. be a bit patient. KES 20 itafika without doubt by release of H1. their q on q run rates are enviable. all things held constant, this bank will soon topple both SCBK and BBK in profitability and in mid term even KCB will lag behind COOP! please note I hold both KCB and COOP in my portfolio..

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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obiero
#76 Posted : Wednesday, May 15, 2013 9:03:51 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,516
Location: nairobi
stocksmaster wrote:
With the market seeming to have divorced politics from its activities, it is high time i jumped back to this market.

My predictions about KCB hitting Ksh 40 before April 2013 (predicted about 7 months ago:(> 10 % Dividend Yield........my new yard stick in NSE stock picking) seem to have been spot on. I had however exited earlier, based on my cautionary approach regarding the elections. No regrets...... sometimes you have to forgo potential gains in order to preserve capital.

My 1st play for this year is Coop Bank. I have been accumulating it since the beginning of the week at about Ksh 15.

Coop Bank at todays price (Ksh 16.30) is trading at a P/E 8.86 (Compared to Equity - 10.2; KCB - 9.92).

It is also trading at a P/B of about 2.3 which is also lower than the two banks above. It is trading at cum dividend (Dividend of Ksh 0.50 for year ending Dec 2012 which was a 25% rise as compared to dividend for 2011)

Its ROE of about 26% is higher than the sector average of about 23%.

Its Profit after tax (PAT) for year ending Dec 2012 versus Dec 2011 was a rise of 43.7% (compared to Equity PAT 17%; KCB PAT 11%).

It has set a target of doubling its agency network in 2013 from 5,000 to 10,000 agents in Kenya.It is also set to start its South Sudan operations in April 2013 via a joint partnership with the Government of South Sudan. This is a very interesting partnership that should give coop bank a serious competitive advantage in that market.

My price target is a minimum of Ksh 20 once this elections are dusted (a 22% upside potential); and a 12 months target price of Ksh 27.50 based on an estimated EPS of Ksh 2.30 for year ending December 2013.

Happy Hunting.

Twitter:stocksmaster@stocksmaster79


HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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mwekez@ji
#77 Posted : Wednesday, May 15, 2013 10:50:31 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
@stocksmaster, calling for you comment on the Q1 2013 results released today
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guru267
#78 Posted : Wednesday, May 15, 2013 11:19:38 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
obiero wrote:
please note I hold both KCB and COOP in my portfolio..


@obiero if you wish to diversify... it may be better to keep off companies with similar risk factors! IMHO
Mark 12:29
Deuteronomy 4:16
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Ericsson
#79 Posted : Thursday, May 16, 2013 12:11:38 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
@mwanahisa do u now see Co-op bank posting stellar results greater than 25%.Already comments are coming out that Co-op will overtake Stanchart and Barclays in terms of profitability.
The bank is now in the number five position in the mortgage sector after KCB,Housing Finance,CFCStanbic and Stanchart.
Its synergy with CIC will also yield it alot of benefits
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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stocksmaster
#80 Posted : Thursday, May 16, 2013 3:49:07 PM
Rank: Member


Joined: 9/26/2006
Posts: 404
Location: CENTRAL PROVINCE
mwekez@ji wrote:
@stocksmaster, calling for you comment on the Q1 2013 results released today


Will post my analysis on the Coop share (and other banking stocks of interest)tomorrow.

Happy Hunting.
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