WBC
National Bank of Australia is planning to offer a counter bids on St. George. The Chief Executive of NAB commented that his bank is looking at options to run numbers on St George bank takeover. "We look at all opportunities and in due course we will look at this transaction, but just now we're literally on the sidelines watching with interest what is happening," said Mr. Stewart at the National Press Club lunch in Canberra.
Westpac Banking (WBC) has a $25.90 share price target from Australian stock analyst Macquarie Research Equities.
Answering the $64bn question: 1 SGB = 1.31 WBC
Westpac Banking (WBC)/St George Bank (SGB) confirm terms: implies $33.10 p/SGB share ex 88cps div:
Key details: (1) WBC has a 2 wk exclusivity arrangement (2) EPS accretive in Yr3, although no synergies stated (3) key brands, branches and ATMs maintained (4) ACCC, APRA and Treasurer approval required (5) subject to no higher offer and independent expert report findings.
Westpac Banking Corporation (WBC) has a price target of $26.00 from Australian stock analyst UBS.
Westpac Banking Corporation (WBC) and St George Bank (SGB) all-scrip merger talks
Event: WBC disclose merger discussions with SGB:
Westpac (WBC)stated that they are in a strong capital position and have no requirement for additional capital from stockmarket analyst Macquarie Research Equities.
Westpac Banking Corporation (WBC): Westpac Dividend Yield Play
It’s bank dividend season again, and WBC follows ANZ this year with a $0.70 fully franked dividend, going ex-div on Monday 19th May.
Merger of two big financial institutions of Australia – Westpac Banking Corporation and St George is likely to be announced today. Westpac revealed yesterday that it is in talks with St George for a possible merger between the two.
National Australia Bank's (NAB) plans to underwrite the interim DRP will leave the balance sheet in a slightly stronger position from Australian stockmarket analysts from Citi.
National Australia Bank (NAB): Is it time to NAB a Dividend?
Australian Banking Sector Update from sharemarket analyst Macquarie Research Equities.
Australian Banking Sector Update
Time to buy back the shorts
We are increasing our price targets on the banks by an average 5%:
Following a better than expected reporting season and clarity around environment and event risk, we are moving to increase our price targets across the bank sector. On average, our PT's have been increased by 5%.
Banks have been large under-performers YTD:
Here is the Australian Banking Sector Update from sharemarket analyst Macquarie Research Equities.
Australian Banking Sector Update
Post WBC: to CP or to SP?
1H08E Sector EPS g -5.7% seq. Core earnings solid up 5% seq.:
With NAB & SGB due to report next week, Sector Cash EPS is on track to be -5.7% seq. Core earnings appear more solid up 5% seq. Key drivers seq: (1) mgns -10bp, (2) strong vol growth 9.5%, (3) weaker fee income 2.9%, (4) BDD up 17bp to 37bp of loans, (5) lower tax rate 27.9%.
Mixed messages on provisions, expect further capital raisings:
The Australian banking sector outperformed the market last week by an impressive 3.2% by Australian stockmarket analyst Macquarie Research Equities.
Banking Sector – Renewed Sentiment
Westpac Banking Corporation (WBC) has a $24.55 share price target and an Outperform recommendation from Australian stock analyst Macquarie Research Equities.
Westpac Banking Corporation (WBC) Reasonable 1H08, with specific issues!
1H08 Cash NPAT flat (sequential), held back by BDD, tax rate low:
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Top 150 Public Companies Listed on the Australian Stockmarket as at 29/05/2009
- BHP Billiton
- Westpac Banking Corporation (WBC)
- Commonwealth Bank of Australia (CBA)
- National Australia Bank (NAB)
- Telstra (TLS)
- ANZ
- News Corporation (NWS)
- Woolworths Limited(WOW)
- Woodside Petroleum Limited (WPL)
- Rio Tinto
- Westfield Group (WDC)
- Westfarmers Limited (WES)
- QBE Insurance
- CSL
- Newcrest Mining Limited (NCM)
- Origin Energy Limited (ORG)
- Santos Limited (STO)
- AMP Limited (AMP)
- Macquarie Group (MQG)
- Foster’s Group Limited (FGL)
