ANZ Announces Surprise $1.5bn Buyback
The 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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ANZ – Morgans rates the stock as Add
The Add rating and $34.50 target are maintained.
Read MoreANZ – Morgans rates the stock as Add
The Add rating is maintained and the target price is increased to $34.50 from $33.50.
Read MoreMarket Sells the Fact with ANZ
For the ANZ it looks like a case of ‘sell on the news’ and take profits after the shares dipped yesterday in the wake of a solid recovery in interim earnings and a higher dividend.
Read MoreSame as it Ever Was as ANZ Rebounds
ANZ has joined Westpac in lifting earnings and dividend for the six months to March 31 as the economy and lending in particular recovers from 2020’s pandemic driven lockdowns.
Read MoreANZ Follows Westpac Lead and Tidies Shop
Earlier in the week it was Westpac with some balance sheet tidying up ahead of next week’s interim results; on Friday it was the ANZ with a rather larger amount.
Read MoreANZ Shares Hit Yearly High on Solid Result
Shares in ANZ hit their highest level in a year yesterday, putting behind the ravages of COVID and the lockdowns after a solid December quarter trading update.
Read MoreFour from Four as ANZ Joins the Party
ANZ joined rivals Commonwealth, NAB and Westpac in justifying the big rally in their shares since early November with a solid trading update for the December quarter on Thursday.
Read MoreANZ AGM Strikes Cautious Tone On Dividend Prospects
ANZ Bank shares ended the day up 1.3% despite a mealy-mouthed assurance at yesterday’s AGM from new chair Paul O’Sullivan about the lender’s dividend policy.
Read MoreAPRA Paves Runway To Higher Bank Dividends
In more good news for investors, APRA has eased its dividend guidance for the banks and, from the start of 2021, will no longer be holding lenders to a minimum level of earnings retention.
Read MoreANZ, NAB Face Up To AGMs After Westpac Dangles Dividend Carrot
ANZ Bank and National Bank hold their annual meetings this week and should have an easier ride than Westpac did on Friday. Westpac pledged at the meeting that shareholders will see a return to normal dividend payments in 2021 following a tumultuous year that has swiped the bank’s profits by 66%.
Read MoreAPRA Flags End To Clamp On Bank Dividends
Old favourites, bank shares returned to the fore on the ASX yesterday after the key regulator APRA revealed that its clamp-on dividends would be eased.
Read MoreBank Reporting Evokes Mixed Reaction From Analysts
As expected the COVID-19 pandemic, lockdowns, and the surge in unemployment and business problems whacked every measure at Australia’s big four banks in the year to September 30.
Read MoreInvestors Treat ANZ Results With Caution
ANZ shares fell 2.4% to $18.70 yesterday in a market that was rattled all day by the new waves of COVID-19 infections in Europe and the US. The ASX 200 fell 97 points or 1.6% yesterday on those rising COVID-19 fears.
Read MoreANZ Slashes Dividend After Full-Year Profit Falls 42%
The ANZ bank has slashed full-year dividend by more than 60% after reporting a 40% slide in earnings to $3.577 billion for the year to September 30.
Read MoreNAB Flags More Impairments As Investors Await ANZ Results
ANZ Bank kicks off the 2019-20 bank reporting season on Thursday but the NAB snuck on in Friday with a pre-release update of its own with news of another $600 million-plus of losses and impairments, including wage underpayments to staff.
Read MoreRBA Issues Banks Clean Bill Of Health Despite “Elevated Risks”
Buried in the Reserve Bank’s latest Financial Stability Review is the best news the country (and the governments) have had since the COVID-19 pandemic started ravaging the economy in February – Australia’s banks are healthy and have more than enough capital to support the economy during the slowdown without getting into trouble.
Read MoreANZ Reverses Call To Withhold Dividend
Unlike its larger rival, Westpac, the ANZ Bank revealed that it will pay shareholders an interim dividend – 25 cents a share – reversing the deferral decision taken several months ago at the height of the initial surge in COVID-19 infections and lockdowns.
Read MoreHas APRA Clarified The Outlook For Banks?
The dividend outlook for banks has weighed heavily on valuations since the onset of the pandemic and the resultant economic slump. Has the prudential regulator, APRA, set minds at rest?
Read MoreAPRA “Strikes A Balance” On Bank Dividends
APRA has eased restrictions around paying dividends in time for the June 30 and September 30 reporting season but told the banks and insurers they should seek “to retain at least half their earnings” when considering payouts.
Read More“Flexibility”: APRA Opens Door On Bank Dividends
The chances of banks resuming paying dividends have risen sharply after the key regulator, the Australian Prudential Regulation Authority (APRA) indicated a change of mind.
Read MoreANZ – Morgans rates the stock as Add
Morgans does not believe, at this stage, the bad debt damage inflicted on the banks by the virus will be as bad as the GFC, largely due to the extent of monetary/fiscal support.
Read MoreMoody’s Finds Silver Lining In Shutdown For Local Banks
Global ratings group has found a silver lining in the recession and lockdowns generated by the COVID-19 pandemic – it has made the Australian financial system and the banks, safer.
Read MoreANZ Lands Buyer For Kiwi Finance Arm UDC
ANZ Bank’s asset sales are reaching the end of a three-year campaign with the news that the bank is finally is selling its New Zealand asset finance business, UDC Finance, for $NZ762 million ($A705 million).
Read MoreA Look At Dividends In The Current Market Environment
As the outlook for earnings has significantly deteriorated and companies conservatively manage balance sheets, the outlook for dividends has been materially impacted. Since the middle of February, over 30% of companies in the ASX200 have deferred, cancelled, suspended, or revised dividends.
Read MoreBanks Well Placed To Weather The COVID Storm
Both KPMG and Deloitte have examined the interim reports from the big four and see them better placed for the immediate future than it might seem from the results which all saw a surge in bad debt provisioning, loan impairments and provisions for compensation.
Read MoreANZ Defers Dividend As Profit Slips 60%
The ANZ Bank has deferred its interim dividend after reporting a sharp fall in half-year earnings and a surge in bad debt provisions as it prepares to confront the financial cost of the lockdowns associated with the fight to control COVID-19.
Read MoreEarnings Preview: ANZ, Macquarie Face Dividend Test
Results from the ANZ Bank and Macquarie Group will dominate an otherwise quiet week. The big issue for investors will be the level of dividends both banks declare after the strong advice from the key regulator APRA.
Read MoreAPRA Pressures Banks On “Prudent Reductions” To Dividends
APRA, the financial regulator, has told banks, insurers, and other financial groups to think carefully about deciding whether dividends can be paid to shareholders over the rest of this year and into 2021.
Read MoreRBNZ Ratchets Up Pressure On Bank Dividends
It’s getting harder for Australian financial regulators to avoid joining their peers in New Zealand, the UK and EU in ordering banks to suspend their dividends and other capital management moves such as share buybacks.
Read MoreUK Banks Told To Scrap Dividends, Could APRA Follow Suit?
Barclays, RBS, Lloyds, Standard Chartered, Santander and HSBC have all agreed to not proceed with dividends. Will Australian financial regulators follow their peers in the EU and UK and tell major banks to suspend dividends and planned buybacks?
Read MoreBanks In Better Shape For Virus Than For GFC
Analysts argue Australia’s banks are in a much better position to weather this storm than they were in 2008, and have been oversold on that basis.
Read MoreANZ – Macquarie rates the stock as Underperform
With earnings already under pressure from ultra-low rates, the likelihood of further unconventional measures implies another step down. Macquarie notes that while the jury is out on the effectiveness of QE, consensus suggests it hurts bank profitability.
Read MoreBank Shares Come Under More Selling Pressure
Bank shares took their second pounding of the week so far yesterday after Monday’s thumping and its clear investors were quite blinkered in their approach yesterday.
Read More“A Material Hit”: Bank Margins Squeezed By Lower Rates
The RBA’s rate cut and bets that another will follow in the next month or so have seen questions again raised over the share prices and sustainability of bank dividends at their current levels.
Read MoreBanks Underperform As Afterpay Soars In 2019
If you exclude the likes of Afterpay Touch, then the financial sector did not help the wider market in 2019.
Read MoreBank Shares Rally After NZ Regulators Lower Capital Hurdles
The shares of Australia’s big four banks rose strongly yesterday after the Reserve Bank of New Zealand watered down its new capital requirements.
Read MoreANZ Distances Itself From AUSTRAC Scandal
A clever move by the ANZ Bank yesterday to differentiate itself from its three major rivals, all of whom are struggling with problems with AUSTRAC, the financial intelligence agency.
Read MoreWhere Do The Banks Sit In The Switch From Growth To Value?
Jamie Nicol, Portfolio Manager for DNR Capital’s Australian Equities High Conviction Fund and SMA, spoke with Informed Investor about the rotation from growth to value.
Read MoreBank Earnings Review: Is The Worst Behind Us?
KPMG’s Major Australian Banks Year-End Analysis Report 2018-19 finds that the four majors reported a combined cash profit after tax from continuing operations of $26.9 billion, down 7.8% on FY2018.
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