Heartland ‘Investment Grade’ Rating affirmed; Outlook improved to ‘Stable’
Posted: 7 December 2011
A small Christmas present for the faithful.Good to know they're working hard back at head office.
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Heartland ‘Investment Grade’ Rating affirmed; Outlook improved to ‘Stable’
Posted: 7 December 2011
A small Christmas present for the faithful.Good to know they're working hard back at head office.
Patience, Belgarion.
Actually, if I had to make a T.A. call, I'd say this consolidation looks more likely to break to the downside. Though, overall (FA + TA), I'd just plump for a longer period of consolidation before an eventual turnaround...
Btw, I'm not sure where others find their freebie charts these days (FT has been short on NZ data lately), but Bigcharts thinks HNZ is Heinz... so need to revert to BSH.
Sub-underwriters bailing out..........at least those that had the moral fibre to pay for their commitments......would seem the banking license might be a distant fantasy, as predicted on this channel very early on
up 3 cents today with nearly 3mil traded, somebodys buying up large!
At 49 cents can anyone tell me the major downside of this stock?
On the the site interest.co.nz there is a comment by large shareholder George Kerr that he wants Heartland to grow by emulating American bank Wells Fargo.
http://www.interest.co.nz/news/57607...rns-over-20-ye
My jaw hit the floor when I read that.
George as a master of the financial universe should ask his fellow financial master of the universe and large shareholder in Wells Fargo, Warren Buffett, how all those residential second mortgages in California they loaned during the housing bubble are getting on.
Boop boop de do
Marilyn
Well looks like George has been doing some selling. :)
Result out... not too surprised that George is selling.
There are some good bits in there (deposits up, despite expiry of the guarantee, impairments reducing), but pretty hard to get excited about it. Hard to see this year hitting forecast and next year won't have the one-off tax benefit to salvage it. At this rate, could be another couple of years of consolidating before it is able to cast off the GFC leg-irons.