However, HSBC isn’t the only dividend stock that could be worth buying today. Reporting on Tuesday was an industry peer which could generate impressive income returns.

Improving performance

The company in question is institutional stockbroker and corporate advisor Numis (LSE: NUM). It has experienced a strong start to the year, with sales being significantly ahead of the same period from the previous year. Part of the reason for this has been higher transaction volumes as well as higher average fees.

Improved performance has been delivered across both the Equities and Corporate Broking & Advisory parts of the business. The company’s pipeline remains promising and includes IPO, capital raising and M&A opportunities. While converting those opportunities depends to a large extent on market conditions, the business seems to have a bright future.

Although Numis has a relatively modest dividend yield of 3.7% at the present time, its dividend growth rate could be high. Its payouts are currently covered 2.3 times by profit, which suggests that it could afford to make larger payments to its shareholders without hurting the sustainability of its business. As such, now could be the right time to buy the stock – especially with it trading on a price-to-earnings (P/E) ratio of just over 12.

Growth potential

Of course, HSBC also appears to have a bright future from an income perspective. It has a dividend yield of 5.2% at the present time, which is likely to remain well ahead of inflation even if there is a further spike in the price level. And with its dividends being covered 1.4 times by profit, they seem to be highly sustainable for the long term.

In fact, the bank could be set to increase dividends at a brisk pace over the coming years. It is in the process of making improvements to its business, and this could lead to a more efficient entity which is more focused on growth. Reduced operating expenses and further rises in demand for its services from customers in Asia could be the key catalysts for improvements in its bottom line. This could translate into dividend growth, with earnings due to rise by 4% in the current year and by a further 5% next year.

Of course, the outlook for the global economy has become more uncertain in recent days. Volatility across the FTSE 100 could be high. But with impressive income prospects, HSBC could be a strong performer in the long run.

The post HSBC isn’t the only high-growth dividend stock you may regret not buying appeared first on The Twelfth Magpie.

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Peter Stephens owns shares in Numis and HSBC. The Motley Fool UK has recommended HSBC Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Small and mid-cap broker Numis (LSE: NUM) is far from a household name but with a 4% dividend yield, attractive valuation of 12 times forward earnings and decent growth prospects, it may be wise to take a closer look at the company.  

Numis has found success in recent years in hoovering up small and mid-cap clients that more established rivals have turned away from to focus on larger, more profitable accounts. This has worked out just fine for Numis as it has found these clients a steady source of income from research, broking and advisory services.

In the year to September, a rebound in corporate transactions and an uptick in trading services from a bundle of new clients increased revenue by 15% year-on-year (y/y). This performance was heavily weighted to the second half of the year, which bodes well for the coming quarters as buoyant equity markets increase IPO volumes.

Looking forward, there are challenges approaching for Numis and the sector as a whole. Aside from the cyclical nature of the industry, the most evident is the new Mifid II EU regulations that are seeking to bring clarity to the traditionally opaque world of how asset managers account for and bill payments to brokers for research. This helps explain why Numis has made such a big push into offering a broader range of services in recent years.

However, these changes have been known for some time and Numis feels prepared to tackle them. Furthermore, the company’s dividend prospects look very good. The company’s balance sheet had £71.2m in net cash at the end of March and since then the company has cancelled its share premium account, which was an un-distributable reserve that held £38m at the end of March. With this account cancelled, the bulk of the cash can be returned to shareholders via its already impressive dividends or its growing share buyback programme.   

With a decent valuation, increasing shareholder returns and good growth prospects, Numis has definitely earned a place on my watch list.

Fuelling up for future growth 

Another stock that fits the bill is nearly-new car dealer Motorpoint (LSE: MOTR). The company currently offers a 3% dividend yield while its shares are priced at only 8.2 times forward earnings. Furthermore, analysts are forecasting a 4.1% dividend yield for the year ahead as the company’s expansion continues and fuels increased earnings and dividends.

They look to be right as the company’s half-year trading update released this morning detailed an 18% uptick in sales from new and existing locations as well as an increase in underlying pre-tax profits from £6.4m to £10.5m y/y. This solid performance suggests the market for Motorpoint’s cars, which are under two years old and have less than 15,000 miles on them, remains robust, even as economic indicators such as consumer confidence have taken a dip recently.

Of course, investing in a used car dealer entails risks related to the macroeconomic environment, but with no debt, good potential for opening new sites and an evidently healthy market for its products, Motorpoint could be an option for more risk-hungry income and growth investors.

The post 2 bargain basement dividend kings appeared first on The Twelfth Magpie.

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Ian Pierce has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Sold performance

Reporting on Tuesday was diversified financial services company, Just Group (LSE: JUST). Its first half of the financial year shows that the recent merger has had a positive effect on the business. It has delivered growth, while also balancing careful risk selection. In fact, Retirement Income sales were 16% higher on a pro forma basis, while total sales rose by 24% versus the same period of the prior year.

The merger is still expected to deliver significant cost savings and synergies. Already, Just Group is ahead of its original £40m cost synergy target more than a year ahead of schedule, while it is now seeking to increase this amount to in excess of £45m. As well as cost reduction, it is aiming to benefit from a growing market for its products. It anticipates favourable conditions due to demographic changes, individual customer defined benefit transfers and a continued expansion of the open market.

Looking ahead, Just Group is forecast to post a rise in earnings of 21% next year. Despite this high rate of growth, it has a relatively low valuation and trades on a price-to-earnings growth (PEG) ratio of just 0.4. This suggests that there could be upside ahead, with the business well-placed to deliver improving returns in the long run.

Low valuation

Also offering a wide margin of safety at the present time is institutional stockbroker and corporate adviser, Numis (LSE: NUM). The company trades on a price-to-earnings (P/E) ratio of just 11.2, which suggests it offers significant upward re-rating potential.

Of course, the company faces a somewhat uncertain future. The financial services market remains relatively unstable due to the potential impact of Brexit. With a weaker pound, higher inflation and lower confidence in the UK’s macroeconomic outlook, it would be unsurprising for investor appetite for new issues and IPOs to be somewhat lower than it otherwise would be. Therefore, Numis is expected to see its profit dip modestly this year.

While the company may have an uncertain near-term future, its long-term potential remains high. It currently yields 5.2% from a dividend which is covered 1.7 times by profit. This suggests there could be scope for a higher dividend, while with rising inflation forecast, the company could become a more enticing income stock. This may increase demand for its shares while they are relatively undervalued and lead to stronger performance over the long run.

The post 2 cheap stocks I’d buy and hold forever appeared first on The Twelfth Magpie.

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Peter Stephens owns shares in Numis.

Unsurprisingly, the news that the king of cheap investing was entering the market sent the share price of the UK’s largest retailer broker, Hargreaves Lansdown (LSE: HL), down around 5% over the course of the week. But does aggressive new competition mark the end of the long growth story for Hargreaves?

Well, it appears almost certain that a price war will break out sooner rather than later. Vanguard is now offering investors a limited range of ISAs with an annual fee of 0.15% capped at £375 per year, while Hargreave’s own ISAs charge an administration fee of 0.45% per year on assets up to £250,000. Together with the fact that Vanguard’s average fund charges only 0.14% annually, this certainly suggests that most investors looking to passively invest would be better off with Vanguard.

In the short term, HL is somewhat protected as it still offers a broader range of accounts than Vanguard and also offers access to other manager’s funds. That said, Vanguard’s history in the US suggests it will aggressively roll out new funds and account types and progressively lower fees as its AUM snowballs.

For HL and other brokers this will likely end with lower margins as they are forced to cut fees in order to compete with non-profit Vanguard. With operating margins for the six months to December an astounding 70.6%, this won’t be a life or death situation for HL for the time being, but it’s certainly not to be welcomed.

However, with the company’s shares priced very highly at 31 times forward earnings any downward pressure on margins and growth could be hugely detrimental to the company’s lofty valuation. HL remains a highly profitable, diversified business but increasing competition and a very high valuation are enough for me to balk at buying the company’s shares today.

A safer growth dividend option?

A more attractively priced financial stock is corporate stockbroker Numis (LSE: NUM), whose shares trade at just 13 times forward earnings while offering a 4.35% dividend yield that is covered 1.95 times by earnings.

The firm has been growing at a steady clip by focusing on consolidating its position as the go-to broker for small and mid-cap companies seeking to raise funds. Even though IPO markets were quiet last year, this approach paid off as revenue increased 15% year-on-year to £112m and pre-tax profits leapt a full 25% to £32.5m.

This performance was due to the company’s diversified approach to business that encompasses everything from M&A advisory to primary and secondary fund raising, research and trading that continues to win new clients and maintain existing ones.

Also attractive is the fact that the business is highly profitable, with operating margins creeping up to 28.9% last year. And while the company’s fortunes are tied to the optimism of its clients’ willingness to raise funds or undertake M&A, Numis’s healthy balance sheet has £129m in net cash, which provides significant downside protection should market confidence plummet. With impressive market share growth, high margins, a bumper dividend and plenty of cash Numis looks to me an attractively priced share for the long run.

The post Does Vanguard’s entry into the UK market mark the end of the line for this top FTSE 100 growth stock? appeared first on The Twelfth Magpie.

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Ian Pierce has no position in any shares mentioned. The Motley Fool UK has recommended Hargreaves Lansdown. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Improving performance

Numis’s revenue growth was spread across all the divisions of the business. Equities revenue rose by 15%, while its Corporate Broking & Advisory division saw its top line increase by 14%. Despite this, there was no increase in staff numbers, which means that revenue per staff member is likely to compare favourably to industry peers.

This allowed pre-tax profit to rise by 25% even though trading conditions were tough. Perhaps the main feature of 2016 has been the uncertainty that has been prevalent for most of the year. The fact that Numis was able to perform well in such circumstances provides encouragement to its investors, since it shows that a successful franchise has been built with better defensive qualities than may be the case for sector peers.

Outlook

Numis is forecast to increase its earnings by 13% in the current year. This has the potential to improve investor sentiment in the stock since it’s around double the rate of growth of the wider index. Even so, the company trades on a price-to-earnings (P/E) ratio of only 10. This equates to a price-to-earnings growth (PEG) ratio of 0.8, which indicates that there’s a wide margin of safety on offer. In fact, if market conditions worsen and guidance is downgraded, a significant fall in share price could be avoided simply because of Numis’s low valuation.

By contrast, financial services peer Lloyds is expected to record a fall in its bottom line of 16% this year and a further 7% next year. While this has the potential to hurt investor sentiment, the reality is that the market appears to have already factored-in the company’s disappointing outlook. Using next year’s earnings forecast, Lloyds trades on a P/E ratio of 9.2. Considering that the bank is more efficient than most of its peers, has a sound strategy and passed the recent stress test with room to spare, it seems difficult to justify such a low valuation.

The better buy?

Clearly, both stocks are strong buys at the moment. While Numis has the superior outlook, Lloyds is cheaper and also offers greater size and scale. The market has also adapted to Lloyds’ difficult outlook, which means that there’s arguably greater scope for an upward re-rating over the medium term. Lloyds also has a more diversified business model than Numis and while it may underperform its sector peer in the short run, Lloyds has a superior risk/reward ratio for the long run.

The post Should you sell Lloyds and buy Numis Corporation plc after it reports 25% profit hike? appeared first on The Twelfth Magpie.

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Peter Stephens owns shares of Lloyds Banking Group and Numis. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Numis’ revenue from its core activities has increased by 14% versus the prior year. This is a record level for the company and is comfortably above £100m for the first time in its history. This was despite activity in the UK equity market being impacted by the uncertainty brought about by Brexit. Numis completed 19 equity raises including 3 IPOs during its second half. This brings its total number of equity deals to 46 for the year, raising just under £1.9bn in the process.

The second half performance of Numis shows that it offers at least some resilience to challenging market conditions. Its corporate activity was relatively high and saw the completion of 26 pure advisory mandates. Combined revenues from equity issuance and advisory activities grew by an impressive 15%, which surpasses the record levels achieved last year.

Looking ahead, Numis is forecast to increase its bottom line by just 4% in the new financial year. While this is a relatively slow rate of growth, Numis trades on a low rating which indicates that it has a wide margin of safety. For example, its price-to-earnings (P/E) ratio is just 9.2. This indicates that there is considerable upward rerating potential. Furthermore, it means that even if Numis’ financial performance comes under pressure due to uncertainty surrounding Brexit, its share price may have limited downside.

Of course, the financial services sector offers good value at the present time as a result of the challenging outlook it faces. For example, Barclays trades on a forward P/E ratio of 9.5, which indicates that the risk from its new strategy implementation and an uncertain global economic outlook are priced in.

While Barclays has a slightly higher valuation than Numis, it offers greater diversity and more financial firepower. Barclays is a global business which is less dependent upon the UK for its revenue than is the case for Numis. Brexit may not have had a tangible effect on the UK economy as yet, but once the negotiation period begins there is the potential for economic difficulties which would be likely to impact to a greater extent on Numis than Barclays.

Of course, Numis has a higher yield than Barclays. It yields 5.4% from a dividend which is covered twice by profit. Meanwhile, Barclays is due to cut its dividend as it favours holding a greater proportion of capital in order to boost its financial strength yet further. As such, it yields just 1.8% but with dividends being covered 5.8 times by profit, there is scope for a rapid rise in Barclays’ shareholder payouts over the medium term.

Although both Numis and Barclays have significant appeal given their low valuations and bright long-term futures, the greater diversity and lower risk of Barclays mean that its risk/reward profile is more appealing. Numis remains a superior income play at the present time in my opinion, but Barclays could catch it up in this respect over the long run.

The post Will this financial services company beat Barclays plc in 2017? appeared first on The Twelfth Magpie.

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Peter Stephens owns shares of Barclays and Numis. The Motley Fool UK has recommended Barclays. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

However, the company’s shares may not deliver such strong performance in 2016. That’s at least partly because Numis’ bottom line is expected to fall by 7% in the current financial year and this has the potential to hurt investor sentiment in the stock. However, with such a low valuation, the market already appears to be pricing in a dip in profitability, thereby making Numis a highly appealing value play.

In addition, Numis has a yield of 5.2% which, for a relatively small company, indicates that it holds huge income appeal. Furthermore, with Numis having a dividend coverage ratio of 1.9, there appears to be sufficient headroom to merit brisk dividend rises over the medium-to-long term.

Volatility ahead

Similarly, life insurance and pension book manager Chesnara (LSE: CSN) also has significant income appeal, with its shares currently yielding 5.6%. And with dividends forecast to rise by 2.8% in the current year, Chesnara offers above-inflation rises in income for its investors over the short term.

However, with Chesnara’s bottom line expected to fall by 14% in 2016, its dividend coverage ratio is expected to decline to just 1.06. This indicates that further dividend growth could be limited unless the company is able to boost its income, potentially from additional acquisitions, or else reduce operating costs.

Clearly, Chesnara’s share price is likely to be relatively volatile in the coming months since market uncertainty affects its embedded value. However, its third quarter update indicated that cash generation remains strong and Chesnara was able to generate a further £6.6m in gross cash during the quarter despite adverse investment market conditions. Those conditions, though, caused a reduction in the company’s embedded value of £22.4m and with Chesnara now trading at roughly the same level as its embedded value, capital gains may be somewhat limited over the medium term.

Bright future

One stock that has disappointed in 2016 is Lloyds (LSE: LLOY), with its shares falling by almost 10% despite the bank’s long-term future being relatively bright. For example, it’s due to return to full public ownership (as opposed to the government having a stake) and is expected to increase dividends at a rapid rate in 2016. In fact, shareholder payouts are forecast to rise by 54% in the current year and this puts Lloyds on a prospective yield of 5.6%.

Looking ahead, the UK economy appears to be moving in the right direction and with interest rates set to move higher at only a slow pace, the chance for defaults and reduced demand for new loans seems relatively slim. As such, Lloyds should enjoy helpful trading conditions over the medium term and with its shares trading on a P/E ratio of just 8.5, they have tremendous upward rerating potential.

The post Are Lloyds Banking Group PLC, Numis Corporation PLC And Chesnara Plc Set To Soar? appeared first on The Twelfth Magpie.

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Peter Stephens owns shares of Lloyds Banking Group and Numis. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Notably, client activity picked up in the second half of the year, which enabled Numis to complete 15 equity raisings, including 5 IPOs. This brought the total equity raisings for the year to 38, with funds raised exceeding £2bn for the third year in succession.

Bright future

In addition, corporate activity within Numis’ client base resulted in a substantial increase in advisory fees, with combined revenues from equity issuance and advisory activity now being at record levels.

This, combined with continued investment in the company’s infrastructure and in its most valuable asset, its staff, means that Numis has a relatively bright future. And, with the company’s shares trading on a price to earnings (P/E) ratio of around 10, they appear to be cheap and well-worth buying.

Also trading at an appealing price level is fellow small-cap Clinigen (LSE: CLIN). In fact, the pharmaceutical services company may have a P/E ratio of over 22, but when its impressive growth prospects are taken into account, Clinigen appears to be a very enticing stock.

Future potential

For example, it is expected to grow its bottom line by 13% in the current year, which puts it on a price to earnings growth (PEG) ratio of only 1.3. This indicates that its shares offer growth at a very reasonable price and, furthermore, Clinigen’s track record of having increased earnings at an annualised rate of 27% during the last three years should provide its investors with confidence in the future potential of the business.

In addition, Clinigen may be well-protected from the ups and downs of the economic cycle, since the pharmaceutical sector is less highly correlated with the wider economy than most industries. As such, it appears to be a good value and reliable stock to own for the long term.

Positive results

Similarly, potash mining company Sirius Minerals (LSE: SXX) could also be described as offering good value for money. That’s because it has huge potential to develop a world-class potash mine in York, with planning permission having been granted.

And, with positive results from crop studies regarding the success of the company’s polyhalite fertiliser called POLY4, it is expected that demand for the product will be high due to its impressive relative performance versus potassium-based chloride fertiliser, which has traditionally been used across the globe.

Clearly, there is a long way to go before Sirius Minerals becomes a fully-fledged mining company and financing is still required to build the mine. But, despite being a risky investment, Sirius Minerals could be worth buying due to it having a world-class asset which may prove to be undervalued.

The post 3 Cheap Small-Cap Stocks: Sirius Minerals PLC, Numis Corporation PLC And Clinigen Group PLC appeared first on The Twelfth Magpie.

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Peter Stephens owns shares of Clinigen and Numis. The Motley Fool UK has recommended Clinigen. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Two notable examples of high quality companies are translation specialist RWS (LSE: RWS), and institutional stockbroker Numis (LSE: NUM). They are both highly profitable businesses, offer excellent value for money and pay relatively high (and sustainable) dividends.

In fact, RWS has been profitable in each of the last five years and, looking ahead, it is forecast to post a whopping 85% rise in its bottom line during the next two years. That’s a superb rate of growth and, despite this, RWS’s shares trade on a price to earnings (P/E) ratio of just 19.9. As such, when the company’s growth prospects and valuation are combined, it equates to a price to earnings growth (PEG) ratio of just 0.5, which indicates that superb growth is available at a very reasonable price.

Furthermore, RWS is expected to significantly increase dividends as a result of its improved profitability, with the company set to yield 3.3% in the current year. And, looking ahead, it would be of little surprise for there to be further dividend increases in future, since RWS’s dividends are presently covered 1.5 times by profit, which indicates that they are very sustainable.

It’s a similar story with Numis. It paid out just 44% of profit as a dividend last year, but that still equates to a very appealing yield of 4.2%. In fact, despite being a relatively cyclical play, Numis remains a hugely enticing income stock and, during the last five years, it has paid out around 34% of its share price from five years ago as a dividend. And, despite having posted a capital gain of 96% in that time, Numis still trades on a P/E ratio of just 10.5, which indicates vast upward rerating potential.

Meanwhile, mobile payments specialist Monitise (LSE: MONI) offers none of the above. Unlike RWS and Numis, it has not been profitable in any of the last five years, is forecast to remain loss-making in each of the next two years, pays no dividend and does not appear to have a clear strategy to become a very profitable and stable business. Furthermore, when it reviewed its strategic options earlier this year, no bids were made for the business.

Certainly, Monitise has a great product, but it is very difficult to label it a high quality business. As such, RWS and Numis appear to be far better places to invest at the present time, with their low valuations and more stable financial performance offering a more favourable risk/return ratio for long term investors.

The post Why I’d Sell Monitise Plc And Buy RWS Holdings plc And Numis Corporation PLC appeared first on The Twelfth Magpie.

More reading

• With a yield of 6.8% and a P/E ratio of 12.1, is this a dirt cheap FTSE 250 stock to consider?
• Will SpaceX, Nvidia, or Alphabet be the first $10trn stock?
• Up 95%! This FTSE 100 stock’s outperformed Nvidia over the past year
• With a 9.3% yield, is this an amazing opportunity to consider buying dirt-cheap Taylor Wimpey shares?
• How much do you need in a Stocks and Shares ISA to aim for £375 a week in retirement?

Peter Stephens owns shares of Numis and RWS. The Motley Fool UK owns shares of Monitise. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.