Is This A Buy Yet??????????? @115p

gf take care with that candle!

JP Morgan overweight TP 396p
housing/buy to let market picking up fast, results due November.
worth a look, dyor.

with buy-to-let booming alongside the property market in general, PAG must surely be worth investigating

the 6-month chart below is easy on the eye .....

Breakout at PAG. Long term chart aswel.

Financials doing well today, fundys cheap aswel historicaly.

Brokers have some hefty SP targets on PAG.

Date Company Name Broker Rec. Price Old target pric Newtarget price

11 Dec 13 Paragon Group Of... Canaccord Genuity Buy 360.50 420.00 420.00 Retains

10 Dec 13 Paragon Group Of... RBC Capital Markets Outperform 360.50 - - Reiterates

05 Dec 13 Paragon Group Of... Berenberg Buy 360.50 395.00 395.00 Retains

28 Nov 13 Paragon Group Of... Espirito Santo Execution Noble Buy 360.50 393.00 424.00 Retains

01 Nov 13 Paragon Group Of... JP Morgan Cazenove Overweight 360.50 396.00 - Retains

N@W Building Society

PAG PARAGON FUNDIES........

Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Peel Hunt LLP
23-12-13 BUY 110.41 27.34 7.80 118.38 29.23 8.20
Panmure Gordon [R]
23-12-13 BUY 29.70 8.50 33.80 10.00
Shore Capital
20-12-13 BUY 115.80 28.90 8.70 129.50 32.90 10.40
Westhouse Securities
19-12-13 BUY
Canaccord Genuity Ltd
11-12-13 BUY 122.00 29.20 8.00 135.00 33.00 9.50
Numis Securities Ltd
27-11-13 SELL 111.90 27.90 8.40 116.60 29.20 9.24

2014 2015
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 113.95 28.68 8.28 123.88 32.95 9.55
1 Month Change 5.51 0.60 -0.16 5.70 -0.62 -0.45
3 Month Change 4.88 -0.52 -0.16 2.50 -0.51 -0.45

GROWTH 2013 (A) 2014 (E) 2015 (E)
Norm. EPS 3.38% -11.49% 14.88%
DPS 66.26% 20.01% 15.32%

INVESTMENT RATIOS
2013 (A) 2014 (E) 2015 (E)
EBITDA £m £125.00m £143.00m
EBIT £m £m £m
Dividend Yield 1.88% 2.25% 2.60%
Dividend Cover 4.70x 3.46x 3.45x
PER 11.34x 12.81x 11.15x
PEG 3.35f -1.12f 0.75f
Net Asset Value PS p 311.20p 334.70p

Paragon Group of Companies PLC PT Raised to GBX 453 at Canaccord Genuity (PAG)
Posted by Wayne Rhoads on Feb 18th, 2014

Paragon Group of Companies PLC logoAnalysts at Canaccord Genuity upped their price objective on shares of Paragon Group of Companies PLC (LON:PAG) from GBX 420 ($7.04) to GBX 453 ($7.59) in a research report issued to clients and investors on Tuesday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 23.30% from the stock’s previous close.
PAG has been the subject of a number of other recent research reports. Analysts at Espirito Santo Investment Bank Research reiterated a “buy” rating on shares of Paragon Group of Companies PLC in a research note on Thursday, February 13th. They now have a GBX 481 ($8.06) price target on the stock, up previously from GBX 424 ($7.11). Separately, analysts at UBS AG raised their price target on shares of Paragon Group of Companies PLC from GBX 325 ($5.45) to GBX 350 ($5.87) in a research note on Monday, February 3rd. They now have a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Paragon Group of Companies PLC in a research note on Monday, February 3rd. They now have a GBX 396 ($6.64) price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of GBX 381.17 ($6.39).
The Paragon Group of Companies PLC is an United Kingdom-based holding company, engaged in the first mortgage and consumer finance businesses.

thanks to someone (sticky?) i bought some for my SIPP the other day at 358, so very many thanks to that benefactor

Latest Broker Views........

Date Company Name Broker Rec. Price Old target price New target price Notes

18 Feb 14 Paragon Group Of... Canaccord Genuity Buy 381.25 420.00 453.00 Reiterates
18 Feb 14 Paragon Group Of... Espirito Santo Execution Noble Buy 381.25 481.00 481.00 Retains
13 Feb 14 Paragon Group Of... Espirito Santo Execution Noble Buy 381.25 424.00 481.00 Retains
03 Feb 14 Paragon Group Of... RBC Capital Markets Outperform 381.25 - - Reiterates
03 Feb 14 Paragon Group Of... Jefferies International Buy 381.25 400.00 420.00 Reiterates
03 Feb 14 Paragon Group Of... JP Morgan Cazenove Overweight 381.25 396.00 396.00 Retains

Half Yearly report

Highlights
Strong increase in buy-to-let lending and Idem Capital investment levels. Banking subsidiary established
· £269.3 million of buy-to-let loans advanced (2013 H1: £102.3 million); pipeline at 31 March 2014 of £348.1 million; significant increase in lending expected in second half

· Idem Capital invested £121.9 million in consumer loan portfolios in the period

· Car Finance business launched by Paragon Bank PLC


The business produced underlying profits of £57.9 million for the period, a 20.9% increase, generating a 19.0% increase in EPS and a 25.0% increase in the interim dividend
· Underlying profit before tax increased by 20.9% to £57.9 million (2013 H1 (restated*): £47.9 million) †

· Profit before tax increased by 19.3% to £58.2 million (2013 H1 (restated*): £48.8 million)

· Total operating income increased by 11.3% to £96.4 million (2013 H1 (restated*): £86.6 million)

· Earnings per share increased by 19.0% to 15.0p (2013 H1 (restated*): 12.6p)

· Interim dividend increased by 25.0% to 3.0p per share (2013 H1: 2.4p per share) in line with dividend policy


To enable future growth, funding sources were diversified and expanded on improved terms
· Warehouse facilities extended on improved terms and increased after 31 March 2014 from £450.0 million to £550.0 million

· Paragon Mortgages (No. 19) PLC securitisation completed, with a broader investor base and on improved terms, funding new buy-to-let loan assets and refinancing a legacy deal, First Flexible No. 4 PLC, the first since 2007

· First structured funding of acquired Idem Capital assets completed

· Second issue under retail bond programme

· Banking licence granted to Paragon Bank PLC, retail deposit taking capability established

PAG got a lot going for it, as some resistance coming up pretty soon but if it gets through we should see a move for the high of the year at 425p. Some healthy brokerage following aswel

i've got these in my sipp from 358, so fairly happy

Results in the morning.

PAG

BEATS CONSENSUS Broker Figures easily......

2014 2015
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Shore Capital
21-11-14 BUY 122.20 30.50 8.60 142.50 36.10 10.40
Panmure Gordon
21-11-14 BUY 31.20 8.50 35.70 10.00
Peel Hunt LLP
21-11-14 BUY 121.20 30.01 8.20 138.66 34.23 9.50
Westhouse Securities
20-11-14 BUY
Canaccord Genuity Ltd
29-10-14 BUY 117.00 29.90 9.00 141.00 35.50 10.50
Numis Securities Ltd
24-07-14 SELL 119.20 30.70 8.76 126.70 32.80 10.10
Espirito Santo Investment Bank Inc
02-04-14 BUY 114.90 28.90 8.40 120.30 30.60 9.50
2014 2015

Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 120.68 30.28 8.58 140.40 35.30 10.13


Fantastic results and lets not forget the consensus figures were revised upwards on the IMS.

HIGHLIGHTS

Underlying profits increased by 18.1% to £122.2 million from £103.5 million in 2013


2014
2013
(restated*)
Change
% change
Profit before tax
£122.8m
£104.8m
+£18.0m
+17.2%
Basic EPS
31.9p
28.2p
+3.7p
+13.1%
Dividend per share
9.0p
7.2p
+1.8p
+25%
Dividend cover ratio
3.5 times
3.9 times


Return on equity
10.7%
10.1%


Cost:income ratio
32.0%
33.2%


* note 2

Strong progress in buy-to-let and debt purchase divisions. Banking franchise established. All divisions showing strong growth prospects

· Buy-to-let completions increased by 82.5% to £656.6 million (2013: £359.8 million); pipeline increased by 78.9% to £414.8 million (2013: £231.9 million)

· Idem Capital increased its investments, net of debt, by 89.3% to £175.7 million (2013: £92.8 million)

· Paragon Bank launched car finance, second mortgage and buy-to-let operations

Significant progress achieved in Group's funding diversification strategy

· Paragon Bank's retail deposit taking activities commenced in June 2014, with £60.1 million of deposits by the year end

· Second retail bond completed, taking cumulative issuance to £185.0 million

· Two bespoke financing packages, totalling £185.6 million raised to support Idem Capital

· Warehouse facilities for buy-to-let lending increased to £550.0 million

· Securitisation issuance totalled £929.7 million over the last 12 months

Capital management

· Strong increase of 20.2% in net cash generation to £157.8 million (2013: £131.3 million)

· Group capital ratios remain strong with Core Tier 1 ratio of 19.7% and leverage ratio of 8.3%

· 2014 dividend cover ratio at top of the targeted range of 3.0 to 3.5 times, two years ahead of expectations

· Initial £50.0 million share buy-back programme announced

Outlook

· Strong new lending and debt purchase pipelines, together with the development of Paragon Bank, present significant growth prospects

· Funding diversification programme and improving debt capacity underpin sustainable growth

· Shareholder returns enhanced by higher dividends and capital management programme

This Broker was looking for a 16% increase and we got a 17.2% increase year on year.

Tuesday 25 November

Paragon (PAG) will release its full-year results on Tuesday.

Analysts' expectations: Paragon's full-year results are expected to show both Mortgages and Idem Capital posting strong growth. Stuart Duncan at Peel Hunt reckons there could be a 16% increase in profits.

He anticipates "positive trends" in each aspect of the business, with expectations that "the Mortgage business [will] do £600 million of new completions, Idem [will] have completed further portfolio acquisitions, and the new bank to be making progress."

With Paragon currently trading at roughly 1.1x September 2015 forecast net asset value (NAV), he believes that this "undervalues the future growth in ROE (return on equity)", which is why he retains his 'buy' recommendation.

BRIEF – Paragon FY pretax profit up 17.2 pct
25 Nov 2014 - 07:45

Nov 25 (Reuters) – Paragon Group Of Companies Plc

FY pretax profit rose 17.2 percent to 122.8 million STG
Final dividend 6 pence per share
Total dividend 9 pence per share
FY basic EPS 31.9 pence
Strong new lending and debt purchase pipelines, together with development of paragon bank, present significant growth prospects
Source text for Eikon: ... Further company coverage: PARA.L

(Bangalore Newsroom: +91 80 6749 1136)

Keywords: PARAGONGROUPOFCOMPANIES/BRIE

sp still quite well short of its peak of about 420 reached in april this year

Yep plenty of manoeuvre space....

PAG

First of many Broker updates I reckon.......

25 Nov 2014 Paragon Group of... PAG Espirito Santo Execution Noble Buy 392.10 377.90 494.00 494.00 Reiterates

SP target 494p

25 Nov 2014 Paragon Group of... PAG Panmure Gordon Buy 392.10 377.90 500.00 500.00 Reiterates

500p SP Target.