Mortgage market headwinds fail to slow AFG’s gains
Australian Finance Group (ASX:AFG) has reported solid performance despite facing pressures from a competitive mortgage market in FY24.
Read MoreTag: AFG
AFG – Macquarie rates the stock as Outperform
The Outperform rating and target price of $2.94 are retained.
Read MoreAFG – Macquarie rates the stock as Outperform
Outperform rating, $2.94 target price and earnings forecasts are retained.
Read MoreAFG – Macquarie rates the stock as Outperform
With no changes to earnings forecasts or the $2.94 target price, the broker retains its Outperform rating.
Read MoreAFG – Morgans rates the stock as Add
Target price rises to $3.60 from $3.40. Add rated.
Read MoreAFG – Macquarie rates the stock as Outperform
Earnings risk is to the upside and the broker retains an Outperform rating. Target is raised to $3.18 from $3.06.
Read MoreAFG – Morgans rates the stock as Add
The add rating and $2.90 target are unchanged.
Read MoreAFG – Morgans rates the stock as Upgrade to Add
Morgans increases EPS forecasts for FY22 and FY23 by 6.8% and 8.4% due to increased net interest margin (NIM) forecasts and increased loan growth forecasts. The rating is upgraded to Add from Hold and the target to $2.90 from $2.60.
Read MoreAFG – Macquarie rates the stock as Outperform
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.
Read MoreAFG – Citi rates the stock as Initiation of coverage with Buy
Citi initiates coverage with a Buy rating and $3 target. Australian Finance Group is the second-largest mortgage broker group by affiliated brokers.
Read MoreAFG – Macquarie rates the stock as Outperform
The broker has reviewed the potential earnings contribution for Australian Finance Group assuming the merger with Connective go ahead.
Read MoreAFG – Macquarie rates the stock as Outperform
The broker had been on research restriction for Australian Finance Group’s capital raising but returns to retain an Outperform recommendation. Funding is now in place to support book growth, the broker notes, and margin clarity has increased with funding renewal and securitisation market activity.
Read MoreAFG – Macquarie rates the stock as Outperform
Australian Finance Group’s residential lodgements increased 33% year on year in the March quarter and 34% in April, although the broker notes last April was benign given the bank Royal Commission and a pending election. Home loan lodgements were down -34% in April due to bank competition. Mezzanine funding has been secured to provide covenant relief.
Read MoreAFG – Macquarie rates the stock as Outperform
The broker has cut its Australian Finance Group earnings forecasts by -3% out to FY25 following a review of credit, hardship and investment risk. The broker notes the company has no debt and $50m in cash.
Read MoreMore Pain For Allco
Allco (AFG) fell to a record share price low of 33 cents this morning after banks seized a substantial percent stake in the company late yesterday.
Read MoreAllco Sells Rubicon Holdings
Shares in Allco Finance Group (AFG) rose by more than 20% today after the company announced it had been forced by margin calls it to sell most of its holdings in three Rubicon property trusts.
Read MoreANY Story For AFG
At least ABC learning put something substantial to the market in the form of a statement and suggestion of a possible deal in the offing.
Read MoreAllco Finance Launches Infrastructure Fund
Asset manager, Allco Finance Group (AFG) rose as much as 6% to $6.11 in early morning trade on Monday after the company said it had raised $200 million for its globally diversified transport and infrastructure fund ahead of schedule.
Read MoreAllco Shareholders Approve Takeover Of Rubicon
Allco Finance Group's (AFG) takeover offer for property investment business Rubicon Holdings Ltd has received Allco shareholder approval on Tuesday.
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