Australian Finance Group reported September quarter lodgements of $18.2bn, to mark a record going back to 2013, with lodgements up 8% from the June quarter and 16% from last September. Home Loan lodgements were up 9% year on year and 43% quarter on quarter.
Customers on loan deferral fell to 0.87% from 4.34% in June. “Conditions remain attractive for AFG,” the broker unsurprisingly suggests. Outperform retained, target rises to $2.41 from $2.34.
Sector: Banks.
Target price is $2.41.Current Price is $2.26. Difference: $0.15 – (brackets indicate current price is over target). If AFG meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
