Wazua
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Housing Finance: HFCK a diamond in the rough
Rank: Veteran Joined: 6/2/2010 Posts: 1,091
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obiero wrote:My 2 cents wrote:obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:Ericsson wrote:littledove wrote:obiero wrote:Ericsson wrote:obiero wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:obiero wrote:piedpiper wrote:HFCK back to lows of ~3.60. Losses are the order of the day. Is there any hope for this so called diamond in the rough...let us wait and watch The only stock that I am currently eyeing, buying in cautious bits Whyyyyy? You enjoy the pain too much. There are "cheap" banks that could give you better returns. Even foreign buyers would want a bank with less drama and there are plenty of Tier 2 and Tier 3 banks up for sale. He's waiting for a buyout. More like imminent buyout The exchange bar knows a lot In advising people to buy dead companies Hehe. Time and tide respect no man. You cant stop the rain. Watch and learn sidian was bought at 4.3b for 83% which values sidian @5b. The valuation was arrived at using “a price-to-book multiple of 1.1x based on the audited 31 March 2022 shareholders’ equity of Sidian,” Access Bank said in a regulatory filing by its parent company on Wednesday seen by PREMIUM TIMES. Total assets around 43b. How does that compare with housing finance which is bigger than sidian. I understand there are some banks conducting due diligence what should we expect if the same valuation metric is applied. Sidian makes a higher profit than Housing Finance. Sidian was in compliance with all statutory ratios while HFCK is in breach Jibu swali, what is the asset size of HF vs Sidian Even if the BS is larger the reality is that the NET ASSETS is what matters. Add to that the QUALITY of the assets. Buyers will not pay full price for loans that are in default. HF probably comes with a lot of baggage and needs a lot of fresh capital to buttress the coming NPLs and Provisions as the economy keeps hurting. Good luck! Asante big brother. I need all the luck as I am looking to buy an extra 200,000 shares by next week  I rather you do not but it is your money. Once I commit to a course, I don't stop. Thanks for the attempt to dissuade.. I know fair value is KES 12, but will consider jumping out at any price above KES 7, which will print before end of this year ceteris paribus. Bookmark this “It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” - Warren Buffet HF is not even a fair company, it is a rubbish company. The 600k you are about to spend is an expensive education in investing. Please buy Safaricom instead. Let's meet here God willing in December 2022 For record purposes 16th June 2022 HF - 3.02 per share Safaricom - 25.05 per share Lets circle back in one year. 6 months too short.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,091
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sparkly wrote:obiero wrote:My 2 cents wrote:obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:Ericsson wrote:littledove wrote:obiero wrote:Ericsson wrote:obiero wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:obiero wrote:piedpiper wrote:HFCK back to lows of ~3.60. Losses are the order of the day. Is there any hope for this so called diamond in the rough...let us wait and watch The only stock that I am currently eyeing, buying in cautious bits Whyyyyy? You enjoy the pain too much. There are "cheap" banks that could give you better returns. Even foreign buyers would want a bank with less drama and there are plenty of Tier 2 and Tier 3 banks up for sale. He's waiting for a buyout. More like imminent buyout The exchange bar knows a lot In advising people to buy dead companies Hehe. Time and tide respect no man. You cant stop the rain. Watch and learn sidian was bought at 4.3b for 83% which values sidian @5b. The valuation was arrived at using “a price-to-book multiple of 1.1x based on the audited 31 March 2022 shareholders’ equity of Sidian,” Access Bank said in a regulatory filing by its parent company on Wednesday seen by PREMIUM TIMES. Total assets around 43b. How does that compare with housing finance which is bigger than sidian. I understand there are some banks conducting due diligence what should we expect if the same valuation metric is applied. Sidian makes a higher profit than Housing Finance. Sidian was in compliance with all statutory ratios while HFCK is in breach Jibu swali, what is the asset size of HF vs Sidian Even if the BS is larger the reality is that the NET ASSETS is what matters. Add to that the QUALITY of the assets. Buyers will not pay full price for loans that are in default. HF probably comes with a lot of baggage and needs a lot of fresh capital to buttress the coming NPLs and Provisions as the economy keeps hurting. Good luck! Asante big brother. I need all the luck as I am looking to buy an extra 200,000 shares by next week I rather you do not but it is your money. Once I commit to a course, I don't stop. Thanks for the attempt to dissuade.. I know fair value is KES 12, but will consider jumping out at any price above KES 7, which will print before end of this year ceteris paribus. Bookmark this “It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” - Warren Buffet HF is not even a fair company, it is a rubbish company. The 600k you are about to spend is an expensive education in investing. Please buy Safaricom instead. Let's meet here God willing in December 2022 Jubilee killed the small banks with rate caps. It will take a decade before the small banks can thrive again. I think in future there will be much more consolidation. Fewer but bigger banks in the market.
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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Ericsson wrote:obiero wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:obiero wrote:piedpiper wrote:HFCK back to lows of ~3.60. Losses are the order of the day. Is there any hope for this so called diamond in the rough...let us wait and watch The only stock that I am currently eyeing, buying in cautious bits Whyyyyy? You enjoy the pain too much. There are "cheap" banks that could give you better returns. Even foreign buyers would want a bank with less drama and there are plenty of Tier 2 and Tier 3 banks up for sale. He's waiting for a buyout. More like imminent buyout The exchange bar knows a lot In advising people to buy dead companies Cough cough https://www.businessdail...pany-for-lending-3849788 COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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A standoff. Fair value is KES 12  COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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obiero wrote:A standoff. Fair value is KES 12 Not even half of 12 in its current state and form. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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Ericsson wrote:obiero wrote:A standoff. Fair value is KES 12 Not even half of 12 in its current state and form. Liwe liwalo, tomorrow I place my order for 200,000 HFC at KES 3 COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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obiero wrote:Ericsson wrote:obiero wrote:A standoff. Fair value is KES 12 Not even half of 12 in its current state and form. Liwe liwalo, tomorrow I place my order for 200,000 HFC at KES 3 Unable to get full order quenched. Literally no seller. Just got 11,400 out of 200,000! COOP, IMH, KEGN, KQ, MTNU
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Rank: Member Joined: 2/15/2010 Posts: 167 Location: Kenya
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CEO's statement From the annual report;
Exiting real estate expected to release more cash.
(Clay City Apartments and Richland Pointe Apartments within the year).
Projection to reduce NPLs by 3.8 Billion this year(NPL ratio down to 20% in 1st quarter).
Anticipating 800M capital injection.
A promise to start dividend payouts in the short term.
With that in mind a net profit of at least 100M year end is not a tall order.
7 bob before year end itakuwa ngumu.
Other intresting facts from report;
Britam lent them 1 billion at 12.94%.
Sale of Rehani house by year end.
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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DtheK wrote:CEO's statement From the annual report;
Exiting real estate expected to release more cash.
(Clay City Apartments and Richland Pointe Apartments within the year).
Projection to reduce NPLs by 3.8 Billion this year(NPL ratio down to 20% in 1st quarter).
Anticipating 800M capital injection.
A promise to start dividend payouts in the short term.
With that in mind a net profit of at least 100M year end is not a tall order.
7 bob before year end itakuwa ngumu.
Other intresting facts from report;
Britam lent them 1 billion at 12.94%.
Sale of Rehani house by year end.
@DtheK these are facts. A declaration of KES 1 dividend will drive this thing through the NSE roof. Over 30% dividend yield! Imagine that COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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Zero supply COOP, IMH, KEGN, KQ, MTNU
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