Bank of Ireland shares

Coil Kilcrea

Maxx, please keep on buying Bank of Ireland shares since you moved the market circa 13%

Dinarius

Intra-day price action almost identical to yesterday, albeit on only about 1/3 volume. €1.85 is support of sorts now.

Hard not to believe that BofI isn’t going to be whacked by business defaults, mortgage defaults and other loan and credit-card defaults, on an industrial scale, due to Corvid 19.

Equally hard not to believe that some of that isn’t already priced into the very depressed price.

The truth, I suspect, lies somewhere in the middle.

But, where that price level is, I haven’t a clue.

D.

Coil Kilcrea

Ironically enough, I think this could be the time where the banks rise from the ashes both by compassionate handling of this immediate crisis, and the proper functioning of the financial system. Governments, including the ECB, will effectively insure our banking system and ask them to be the implementations of fiscal policy. We now need a robust banking system.

And I agree, we don't know what that means for the stock but an awful lot of bad stuff has already been priced in to this and other good businesses.

Dinarius

€1.85 has been tested again today.

But, tiny volume.

No one wants to commit.

Meeting between banks and government today might give share price some direction.

D.

Dinarius

Weakened and broke €1.85, closing at €1.84, its low for the day.

Maybe news of what is expected of the banks (after government meeting) had leaked.

However, volume at 200k+ was very low.

Tomorrow should tell a lot more.

D.

Mad_maxx

I dumped at 2.01 today and bought crh, can see the banks being leaned on severely, they will be expected to act as a charity for the coming year, I'll buy back @1.50

Dinarius

Mad_maxx wrote: »

I dumped at 2.01 today and bought crh, can see the banks being leaned on severely, they will be expected to act as a charity for the coming year, I'll buy back @1.50

Sensible, I'd say.


You may well get them for less than €1.50.


D.

Gatoh

I'd say 1.50ish is the breaking point alright, after that magic number we may consider another share consolidation

JeffKenna

Silly question but if €1.69 is the share price now does that mean that the share price is circa 6 cent before the 30 to 1 Consolidation. Was it ever that low even during the financial crisis?

manonboard

JeffKenna wrote: »

Silly question but if €1.69 is the share price now does that mean that the share price is circa 6 cent before the 30 to 1 Consolidation. Was it ever that low even during the financial crisis?

I read this a couple pages back:

Mad_maxx wrote: »

No but 5 cent was the 2012 low and that was very brief, 10 cent was the level through most of 2012, we are are just above 7 cents now in old money

Almost makes you nostalgic for the dour Afrikaner

I believe it confirms your thinking.

Thargor

AIB scumbags use the current crisis to quietly remove free banking to the people who keep a minimum balance of €2500 in their accounts.

cal naughton

Thargor wrote: »

AIB scumbags use the current crisis to quietly remove free banking to the people who keep a minimum balance of €2500 in their accounts.

That was weeks ago. What has that got to do with the BOI share price?

Dinarius

Was watching most of the day.

Up to about one hour before close, volume was about 220k.

Closing volume was 430k and price spiked a little off its low in the last half-hour.

I presume a big buy towards the close?

I can't confirm this coz my feed is not working.

D.

Mad_maxx

Bought back @1.64, 1.50 wasn't touched, 1.53 is as low as it got

otterj

what is the ex-dividend date for boi?

Browney7

otterj wrote: »

what is the ex-dividend date for boi?

7 May - be stunned if they pay it

Dinarius

Price action this morning suggests that volume surge in the last hour yesterday was buying.

Some short-covering was inevitable at some stage too.

D.

Mad_maxx

Dinarius wrote: »

Price action this morning suggests that volume surge in the last hour yesterday was buying.

Some short-covering was inevitable at some stage too.

D.

Volume not especially high this morning from looking at yahoo finance?

otterj

Novice here so dont get lose your sh!t if this is a stupid question (@madmaxx)

But can anyone enlighten me as to why AIB share price is lower than boi and had a bigger drop yday compared to BOI.

They had higher pbt and their loan book is bigger and seem to have a better IT system and operating structure than their main competitor, is it that their majority govt owned?

Geuze

Your second sentence doesn't make sense.

Geuze

Otterj,
please note that a 1 euro share could be more expensive than a 100 euro share.

The nominal share prices can not be compared.

A 100k house could be more expensive than a 500k house, relative to the rental incomes.

coolshannagh28

I wouldn't touch an Irish bank share with a bargepole except to short it ; the Irish banks are junk and are tied to the state which going by the measly support packages in place for the economy and unemployed at this time of crisis has been swimming with no trunks on.

Mad_maxx

coolshannagh28 wrote: »

I wouldn't touch an Irish bank share with a bargepole except to short it ; the Irish banks are junk and are tied to the state which going by the measly support packages in place for the economy and unemployed at this time of crisis has been swimming with no trunks on.

If they are "tied to the state"

How come the banks fared so poorly this past six years?

coolshannagh28

Mad_maxx wrote: »

If they are "tied to the state"

How come the banks fared so poorly this past six years?

Maybe they reflect our real domestic economy with offshore investment stripped out .

Mad_maxx

coolshannagh28 wrote: »

Maybe they reflect our real domestic economy with offshore investment stripped out .

all aspects of the economy has shown positive growth since 2014 , bank of ireland shares have moved downwards every year since 2014

the banks are indeed zombies but so are all banks across the EU

coolshannagh28

Mad_maxx wrote: »

all aspects of the economy has shown positive growth since 2014 , bank of ireland shares have moved downwards every year since 2014

the banks are indeed zombies but so are all banks across the EU

I agree , can anyone explain how Wilbur Ross got in and out of Bank with a half billion profit ?

Mad_maxx

coolshannagh28 wrote: »

I agree , can anyone explain how Wilbur Ross got in and out of Bank with a half billion profit ?

He bought @ 10 and sold above 30

coolshannagh28

Mad_maxx wrote: »

He bought @ 10 and sold above 30

Shrewd !

Mad_maxx

coolshannagh28 wrote: »

Shrewd !

He then invested heavily in a Greek Bank after cashing in Bank of Ireland :eek:

Thargor

Mad_maxx wrote: »

He then invested heavily in a Greek Bank after cashing in Bank of Ireland :eek:

How's that doing?