ANZ Group Holdings (ASX:ANZ) has released its full-year results for the financial year ending 30 September 2024, showcasing mixed performance metrics against the backdrop of its strategic acquisition of Suncorp Bank.
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ANZ recently provided an update on accounting-related adjustments impacting its 2024 second-half results arising from the Suncorp acquisition.
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ANZ Bank (ASX:ANZ) has faced further regulatory scrutiny from the Australian Prudential Regulation Authority (APRA), this time over its handling of information and transactions involving Commonwealth Government bonds.
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Fund Manager Chris Pedersen discusses ANZ Group Holdings, Apple Computer and Netwealth Group.
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Heading into the weekend, it wouldn’t be surprising if the board of ANZ Bank is getting nervous about the growing bond trading scandal. They might be considering moves to try and cauterize the situation and end the string of bad news.
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As the curtain closed on the interim bank reporting season, ANZ made its grand entrance into the buyback bonanza, joining the likes of NAB and Westpac in returning excess capital to investors.
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ANZ Group Holdings (ASX:ANZ) has topped the roll call of the big four banks, reporting weak earnings but higher dividends and buybacks.
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ANZ (ASX:ANZ) has been allowed to purchase Suncorp’s predominantly Queensland-based bank for $4.9 billion after the Australian Competition Tribunal overturned the ACCC’s block on the deal due to competition concerns.
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ANZ has confirmed it is among the biggest beneficiaries of the RBA's 13 rate rises in the past 18 months with a record profit for the year to September.
Read MoreWestpac’s interim results yesterday capped the half way point of the Big Four’s FY2022-23, with some clear signs of loan stress already emerging.
Read MoreANZ Bank lifted interim dividend 12.5% to 83 cents a share after a modest 12% rise in cash earnings for the six months to March.
Read MoreANZ’s $4.9 billion offer for Suncorp’s banking arm looks to be in trouble after comments from the ACCC that it worries about future competition and can’t see many benefits from the deal.
Read MoreANZ has kicked off its Suncorp acquisition marketing campaign with an obviously well-briefed pro-deal commentary in some sections of the business media.
Read MoreThe big four banks have all now reported, with the group lifting its combined earnings 7% to a total of $28.5 billion for 2021-22 – with the rising rate environment helping.
Read MoreANZ Bank may feel satisfied with a 5% rise in earnings to $6.5bn for the year to September 30 but it was not to the liking of investors, who lopped 3% off the share price.
Read MoreANZ Bank has confirmed that it proposes to buy Suncorp’s banking business for $4.9 billion and will ask its shareholders to cough up $3.5 billion via a one for 15 fully underwritten renounceable issue.
Read MoreAs of the weekend, ANZ’s $4 billion purchase of MYOB from KKR looks like it is on hold while the company talks to Suncorp about buying its Brisbane-based regional bank for an even higher amount.
Read MoreWednesday’s ASX session saw ANZ Bank announce a deal to buy accounting software company MYOB, while retailer KMD Brands is still feeling the pinch from Covid-related lockdowns.
Read MoreMacquarie, the Commonwealth, the NAB and the ANZ have followed Westpac in announcing they would pass on the full 50 basis point RBA rate increase to their customers.
Read MoreThe Commonwealth Bank seems to be slowly but surely drawing away from the NAB, Westpac and the ANZ – each of which seems powerless to close the inexorably widening gap.
Read MoreCommentary from ANZ this week suggests the company wants to go shopping and use its surplus capital to buy non-bank businesses rather than give it back to shareholders.
Read MoreBuried in yesterday’s ANZ earnings announcement was intriguing news that the bank is moving towards a different structure – a holding company similar to how Macquarie Group is now configured.
Read MoreThe ANZ Bank will pay an unchanged interim dividend of 72 cents a share after an unimpressive first half performance saw a 4% rise in cash earnings.
Read MoreANZ and CBA were both in the news on Tuesday as the former made some key personnel moves and the latter offloaded an asset, raising expectations for further capital management programs.
Read MoreNo change to earnings forecasts but a target price increase to $29.25 from $27.00. Neutral retained.
Read MorePrice target $30. Buy. UBS’s estimates are below market consensus.
Read MoreThe market viewed ANZ’s December quarter update as a case of too much upbeat commentary and not enough about whether or not the bank actually earned a profit for the period.
Read MoreThe $30 target price and Outperform rating are maintained.
Read MoreIn its final legal action resulting from the 2019 Royal Commission, ASIC has launched legal action against ANZ Bank after it failed to pass on financial benefits to clients.
Read MoreThe Neutral rating and target price of $28.50 for ANZ Bank are retained.
Read MoreASIC is taking ANZ Bank to court over its discredited ‘introducer’ housing loan program that generated more than $18 billion in home loans for 50,000 people from mid-2016 to early 2018.
Read MoreTuesday’s solid full year result from the National Australia Bank concluded the strong recovery the big four have made from the pandemic damaged 2020 financial year.
Read MoreOutperform retained, target rises to $30.00 from $29.50.
Read MoreFor all the silly business media talk to the contrary, the bottom line is that ANZ has emerged from two years of pandemic hit lockdowns and disruptions in good shape and looking prudently run.
Read MoreCredit Suisse is wary of being too negative on the bank given its sharp discount to the sector. Neutral rating and $28.50 target retained.
Read MoreNo trading update nor buyback for now from ANZ, but plenty of guidance on their loan books and capital position, both of which look strong enough for now.
Read MoreMorgans retains its Add rating and $34.50 target.
Read MoreCiti retains its Neutral rating and $29.50 target price.
Read MoreThe ANZ Bank has surprised the market by revealing a $1.5 billion buyback on Monday night, declaring it would not affect the bank’s ability to support pandemic-affected customers.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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