Despite already having a presence in the BNPL sector through its stake in Swedish giant Klarna, CBA has clearly decided the attraction of the BNPL model popularised by Afterpay is too juicy to ignore.
Read MoreCommonwealth Bank reported cash earnings of $3,886m, down -11% versus last year but above Credit Suisse’s estimate of $3,513m. The broker decides to maintain its Neutral rating and increase its target price to $85 from $82.
Read MoreIrrespective of investors’ mixed response to it, Commonwealth Bank’s interim result has set the tone for the rest of the sector over the next two months.
Read MoreThe Commonwealth Bank met investor expectations with a lower profit than a year ago, a lower dividend but it was also higher than the final for 2019-20 and that’s what the market had been wanting.
Read MoreIn 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 MoreThe Commonwealth Bank says it will receive $886 million for the sale of its equity interest in the BoCommLife Insurance Company after the divestment got the go-ahead from Chinese regulators.
Read MoreGlobal dividends dropped 11% in Q3; Australian dividends among hardest hit in the world, worst in at least 11 years.
Read MoreOld 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 MoreFollowing a trading update, Morgans downgrades earnings forecasts for Commonwealth Bank and lowers the rating to Reduce from Hold.
Read MoreThe Commonwealth Bank of Australia has joined its peers in reporting weak returns in its latest report. The country’s biggest bank said on Wednesday that its September quarter cash profit was down 16% on the same quarter of 2019-20, thanks to the continuing impact of COVID.
Read MoreAs 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 MoreBuried 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 MoreThe Commonwealth Bank says it has received another $450 million in progress payments from the sale of its insurance business, ComnInsure to AIA.
Read MoreThe Commonwealth Bank has slashed final dividend for the 2019-20 financial year by more than 50% in the wake of the impact of COVID-19 pandemic and lockdowns.
Read MoreThe 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 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 MoreThe 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 MoreGlobal 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 MoreAs 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 MoreCommonwealth Bank has set aside $1.5 billion for potential defaults on account of COVID-19-related shutdowns.
Read MoreThe CBA has ridden out the third quarter in style. The bank Wednesday posted a small rise in unaudited third-quarter profit and sold a 55% stake in fund manager Colonial First State to US investor, KKR for a return of around $1.7 billion to the bank.
Read MoreThe Commonwealth Bank has joined the rush and will temporarily close 114 branches from Thursday across the country as customer traffic continues to fall because of social distancing and the impact of the COVID-19 crisis.
Read MoreBoth 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 MoreAPRA has written to the banks and insurers, advising them to “seriously consider deferring decisions on the appropriate level of dividends until the outlook is clearer”.
Read MoreAPRA, 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 MoreCredit Suisse, again, reduces earnings estimates and allows for a further increase in bad debts for the banks.
Read MoreCiti does not expect APRA to follow the RBNZ’s lead in suspending bank dividend payments, as too many self-funded retirees rely on that income with the cash rate at 0.25%. The regulator has indeed flagged an opposite capital approach — easing the timing on “unquestionably strong” levels in the face of the crisis.
Read MoreIt’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 MoreBarclays, 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 MoreAnalysts 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 MoreBank 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 MoreCredit Suisse downgrades earnings estimates on the back of the reduction in official cash rates but also taking note of an increase in bad debt provisions derived from economic stress.
Read MoreThe 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 MoreThe broker has responded to the Commonwealth bank result with a series of charts. It is unclear how the result stacked up against forecasts.
Read MoreCBA has left its interim dividend unchanged after revealing a small dip in December half-year profits. The result will please the market with no funny figures or hidden black holes in the wake of the banking royal commission and the crackdown on money laundering by AUSTRAC.
Read MoreIf you exclude the likes of Afterpay Touch, then the financial sector did not help the wider market in 2019.
Read MoreThe shares of Australia’s big four banks rose strongly yesterday after the Reserve Bank of New Zealand watered down its new capital requirements.
Read MoreJamie 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 MoreThe Commonwealth Bank faces potential fines up to about $1.85 million after pleading guilty to selling life insurance to customers through unsolicited phone calls.
Read MoreCBA has issued a cunningly structured Q1 trading update that flagged further “headwinds” for its net interest margin but importantly the update contained no new charges for customer remediation.
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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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