We have to remember the rateing downgrade threatened by S&P. Be careful, but present share price is very good.
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We have to remember the rateing downgrade threatened by S&P. Be careful, but present share price is very good.
hi ham varning hu - ven hit gets to vun tollar und vivty hi vil pe zellink hymn
:)
Mouse.. The S&P notice was a warning.. The TSB and HNZ were mentioned in that warning..
It had very little relevance to the TSB and HNZ workings..
So !!.. Grab that wonderful piece of Cheddar presented to you today.. And scurry back to your warm little nest..
The Gorganzola will come later.. .
by that do you mean the trap will be sprung?
Like I said before Balance, good luck to you investors who got in early. To my mind the most important information going forwards is the quality of the loan exposure and that will not be released until annual result time. If all goes well I will have missed out on a good capital gain here. But what I want to invest in is a boring bank. HNZ is not confirmed as boring enough for me yet!
SNOOPY
I remain baffled by these statements of yours Snoopy.
In last years annual report and also this years half year report I consider that there is plenty of information on loan quality, impairments and write-offs and that one could draw an informed conclusion from that information.
Best Wishes
Paper Tiger
The information I am after PT, is an update on that contained in HNZ annual report Note 32c
"32 Credit risk exposure (continued)
(c) Maximum exposure to credit risk by internal risk grading"
This information is not presented in the half year report. Furthermore the nine categories of loan identified in 32c
Grade 1 - Very Strong, Grade 2 - Strong, Grade 3 - Sound , Grade 4 - Adequate, Grade 5 - Acceptable, Grade 6 - Monitor, Grade 7 - Substandard, Grade 8 - Doubtful, Grade 9 - At risk of loss
are not 'holding pens' for HNZ loans. Those loans can move between categories. I prefer to see where those loans have moved to when the FY2013 report comes out.
SNOOPY
What with a little bit of buying here and with recent share price movements I find that HNZ is now my single biggest NZX holding at 21.73% having overtaken RYM at a mere 20.06%.
Best Wishes
Paper Tiger
When I try to work out the interplay between PGW and Heartland over MARAC's property portfolio my brain starts to hurt.
This commentator does not seem to be impressed;
http://www.interest.co.nz/property/6...property-flesh
Boop boop de do
Marilyn
Everyone's brain started to hurt when they tried to work out the relationship between Heartland and PGC over the non-core property deal.
This held back HNZ as people had concerns as to the true value of the properties,and the deal itself.
The announcement cleared the air.The $24mil hit is a lot less than I thought it would be.HNZ's accounts and profits from now on will be cleaner and easier to understand.
Also the end of the relationship with G.Kerr is seen as very positive.
Shareholders and analysts are impressed.
Our holding [wife and mine] is now 15% of our total holdings.The recent purchase and the increase in SP has taken it from 12%,which I thought was enough in one company.
As I am very comfortable with HNZ I will let it run.So I have no intention of buying or selling any shares.
Am looking forward to our HNZ hitting 25% of our total holding by Xmas.Not sure whether it will be this Xmas or next year's? lol.
Ok I am rather more aggressive in my aproach HNZ 48.93% DIL 43.97 SNK 7.11% and gives me the overall % returns I want.
Lots will disagree.
perhaps I might be permitted to point out that your HNZ going from 15 to 25 per cent excludes the other 85 percent from making any advances or could be achieved by losses in the other 85 per cent and HNZ going nowhere- however, having said that I agree with now being more comfortable with HNZ thanks to your inspired commentary on this thread.
Merry Christmas - noel feeling
Majorbarejet
There is no doubt that G Kerr tried to stitch up HNZ with as many Georgie Porkie deals as possible.
I do believe however that the unwinding of RECL represents the final break between HNZ and that shyster.
What it costs HNZ is nothing compared to the credibility and benefits that HNZ obtains from the total severing of links with that plum-in-the-mouth loser.
But life can be a funny thing - Shyster Georgie sold out of HNZ at 52 cents last year. The word'Heartland' must strike at his heart everytime he sees it or reads it?
The commentator seemed to have a rather churlish 'chip on his shoulder' approach. I can't really see what he is complaining about.
HNZ clearly said earlier that if there was a change to how they handled non core assets, it may affect short term profits. There was, and it has l! can't see a problem with that.
Wow and I thought I was very aggressive on HNZ with 34% in HNZ and similar in DIL and RYM combined !
Agree with biker about the article on interest.co.nz. While it is a reasonably good summary, the result and decision by HNZ on how they are dealing with it, including the write downs, should not have come as a surprise to reasonably well informed investors/commentators
I realise that Mr Vaughan needs to earn his keep but
"Buried deep in a May 28 statement entitled 'Heartland Bank Releases Third Quarter Disclosure Statement' was this sentence; "If the outcome of that (non-core property) review is to change strategy, this may impact currently anticipated full year financial results."
indicates that reading beyond page 1 of anything is a struggle for the poor man.
The useful thing he does imply is that even after all this, a risk of further write-downs beyond the $18m does remain.
However I would suggest that HNZ is being prudent with an up-front write-down and we will just have to see what further amendments, positive or negative, need to be made.
Best Wishes
Paper Tiger
PS I notice Bernard Hickey has commented "nice piece Gareth", I disagree.
I had the same reaction. Although I tend to share his suspicions of companies that aren't straight-up, I didn't find the HNZ announcements that obtuse at all. They seemed quite consistent to me.
The only query I had was why PGC still got the whole $11m fee for achieving the destruction of more than $30m value in a shorter time period than initially anticipated (:p)..., but can see how it is probably cheaper in the long run to pay the fee and take control back.
Good question that commentator asks though "what actually are those $130 million of assets" and what do those terms / descriptions of the different classes of assets actually mean - esp the term "extend"
All seems a bit mysterious .....and not very transparent
And don't tell to ask jeff direct .....he doesn't communicate with the likes or me ....and if does refer any queries to his offsiders they don't respond either - not even with the corporate line - 'No comment'
Hard to do your homework when they lock themselves away in an ivory tower
Sparks - I think I just need to face up to it .... I just don't have the charisma you have or that all engaging charm
Might see if I ask about giving them any money if they are responsive .... like a customer that is .... hope management attitude don't go down to the troops
Good question .... does the top guy even know what a customer looks like
He must think you are Snoopy.!!! lol.
I have found the chairman Bruce Irvine does return calls, and is very easy to talk to.
Craig Stephen I have found good to talk to.I learnt a great deal talking to him after the presentation he gave.His presentation was excellent.
I have not spoken with Jeff Greenslade.
Wow, and people just tell me I just need to change my first name to get a reply from companies :p (gender implications).... I think I hold the record for never getting replies from management.
Then again, the few occasions I have received a reply to an email (and I'm not referring to HNZ here, as I have never emailed them), it has usually been both patronising and misleading. As a result, I have never seen the point of approaching management, nor employed an investment strategy that in any way utilises it.
Sometimes the best place to do 'homework' is Thursday night around the bars.
Follow a group of suits from acompany about 5.30 to their local and park yourself near them. Usually moan about all the crap that's going on ....or gettingbexcited about the next big deal. The Occidental in lamb ton quay seems popular and you often see noisy groups in Pravada
Better than ATMs and pesos Percy ....you get the real oil and not the glossy stuff the company wants you see or hear
And nothing like sitting next to a suit on the Auckland flight who has a wad f people with confidential or commercial sensitive written all over it.
PowerPoint presentations are best ....bigger fonts and easier to read
I'm sure lizard is smarter than judge jury
Your favourite afternoon show is it Percy?
Watched it at the airport once with the sound off. We tried to guess if the guy or the gal was guilty by watching judge judys expression .....but the final call came before the end
http://m.youtube.com/#/watch?v=iInvY...%3DiInvYl05vOY
Is this a good example
HEARTLAND BANK NEW ZEALAND'S NEWEST BANK
Sideline advertising at the test tonite
Good stuff ....getting out there big time
That'll help double the size if te business like jeff touted a year r so ago
Hq and marketing guys must have wanted free tickets methinks ...so get an advertising package..
Good lurk eh
Most of the messages they are pushing seem to be aimed at business lending ....get you working capital from us and all that sort of stuff
I thought the national anthems were the highlight .... really scrappy game got more interested in who was spending their money on the advertising hoardings
Heartland up there with AIG, Steinlager, Ford and Powerade ..... I look forward to the Superbowl ad next February
I'll find a better one but something like this will appear in the ANNUAL REPORT
Thank you.
I must have been either too intent on watching the play,or our 32" TV is not big enough to pick out the ads.
Had I known Heartland would have been advertising I may have brought a 64" TV.!! Then again I most probably did the right thing by buying more HNZ shares than a new TV.!!!! lol.
Article on how the wrong bank account can cost you money.
http://www.stuff.co.nz/business/money/8782915/The-wrong-account-can-be-costly
HNZ get a mention for best products in the Online Saver and Full Access Saver categories.
Would the consensus be that support should be shown around the 77c mark? They've dipped to this level several times over the last couple of months. I can't see them going much lower than that.
And I thought I was the eternal optimist...
Percy you will be please to know that the now well known runner up of Masterchef is opening up a cafe right next door to Heartland Bank here in Nelson. Should definitely make more people notice it :)
I am already looking forward to my next visit to Nelson in April 2014.
The way Heartland's share price is going, and with another dividend I may be able to afford to eat there!!! Saved a bit this year staying in a nice motel at the motor camp [ a lot cheaper than the motels on the street]. Make a bit of a change from the very good fish and chips from Roto street, and the nice Thai in Tahunaui.Where is the Heartland Bank in Nelson?
I should also note that as of today I am a holder of HNZ. So quite happy for Percy's $1.25 support level to be accurate rather than optimistic!
A real 'destination' centre in Nelson - Smiths City, Maccas and Heartland all in place
Almost Heaven
What's the parking like?
Plenty of parking at Smiths City.
Sorry to intrude, but can anyone point me in the direction of the Heartland thread?
And will I be able to park my bike there?
Best Wishes
Paper Tiger
PS HNZ down to $0.81 today making it even more of a bargain.
For a good new bike look no further than...........wait for it,,,,,,,,,,,,,,,,,,,,,,, Smiths City.....
Heartland again.Our friend Chris Lee is pleased to see the back of G.Kerr .He dislikes banks buying back their shares.Yes, improves EPS and divies,however, he feels the funds would be better used to "exploit weak competition when the next downturn arrives."
My going on about the share buy back, was really to quieten those here, who went on that Heartland would need to raise capital,when they did not need to .Whether Heartland are better off to hold funds, or do a buy back, I am easy either way.
Chris Lee also stated that next years earnings will afford Heartland to pay 6 cents per share fully imputed divie.Agree with that.
Is it by design or accident that a number of Heartland premises are right next door or close to Fast food stores. Hell, said fast food stores selling Cant Burst EM Chicken Bale wraps,Massey Ferguson Retro Kebabs & Silerater Burgers with sludge sauce with Forklift fries and "Shut the gate Lattes" Win/Win
By design.A friend of mine who was a director of Trust Bank explained it to me when I asked how Trust Bank got on with MacDonalds next door in Merivale .[ChCh].
He said it saved both parties a huge amount of money "sharing" the one car park.When one was busy the other was quiet and vi'sa ver'sa.!!
Busy as a flea in a fit.Had my biggest week of the year last week.Mad enough to think I will get to Westport on Monday and Greymouth on the following Monday.!!!
Heartland's share price strength has been excellent of late.I think the forecast increase profit,high equity ratio, and the possibility of increase dividend next year has made people more comfortable with Heartland.
Stay warm and safe mouse.
Heartland Bank Ltd., today announced that on maturity date of 15th July 2013, it will repay the maturing bonds.[NZDX MAR 010]
$104.2 mil.
Positve.
Nice one Heartland, great sideline advertising at Yarrows Stadium in the "heart " of TSB territory during the 3rd Test. What a positive outfit we have here! :)
UDC's increased profit augurs well for HNZ's fortunes.
http://news.theage.com.au/breaking-n...624-2ortl.html
Thanks for posting the link.
I have great respect for UDC.A fine,very well run company.
HNZ offcourse operate very much in the same field.
In some ways I think we all may have under estimated the ongoing growth rate for HNZ.
UDC's 24% is spectacular.HNZ's projected growth to 30/06/2014 is spectacular.As Sparky has pointed out there is a very ready need for both companies.
So our 15% to 20% growth figures may be well wide of the mark?
Stuff's Chalkie article this morning "Risk reduction puts banks' loans all at sea" makes for interesting reading.
Heartland has no "overseas" borrowings,so offcourse is not affected.
It will/could be a major cost for the Australian banks.
I see directors Gary Richard Leach has been selling down his Heartland shares. The 1st July declaration to the NZX indicates 9599 shares sold so far. The FY2012 annual report (p60) leads me believe that 19,137 shares are left to go. It is certainly not a good sign to see a senior insider selling out. Perhaps Gary has judged 82c as near the peak of the Heartland wave?
SNOOPY
Generally, directors selling their own shares have two reasons: 1. poor directors; 2. no confidence in their company.
Snoopy moved from PGW to HNZ is not a good sign to HNZ, luckly i already sold half of my HNZ holding;)
I recall two themes were running simultaneously regarding banking license or not
Snoopdog believed they had to wait until 3 years accounts were available, as per RBNZ guidelines.
xerofdog believed they would never get a license whilst the CUR, Kerr, still had his paw in the till.
Snoopdog was foiled by pro-forma accounts being acceptable (I guess)
xerofdog could say he was correct as no license was granted until after the curs inauspicious exit was consumated. We will never know if that was a valid reason or not, but I'll claim it !!
ps with mild amusement I see the CUR is trying to have the 'transparency for PGC' blog shut down.
Master I am making no prediction of doom for HNZ, nor do I predict greatness. I have held PGW for a number of years so I feel that I know that company better than most. I cannot say the same for HNZ. I am a shareholder in HNZ indirectly, because PGW owns a small stake. Hence my interest in HNZ.
All I do know is that there continue to be some difficult property loans on the HNZ loan book and I prefer to wait until the plan to deal with these is clear before investing in HNZ. If HNZ are successful in sorting out these loans there is probably some upside in the share price that I will miss. If they are unsuccessful, then I may join in the cash issue that will be necessary to bail them out. In the meantime I will continue to wait on the sidelines and see what happens.
My message to existing shareholders is not to sell, nor to buy, nor anything to do with any transactions. It is just be careful that you understand the risks attached to those HNZ shares that you own.
SNOOPY
Co-op getting big ideas and advertising, more competition for HNZ?
Best Wishes
Paper Tiger
Seems to be strggling to get past 83c of late - is there still some pesky BOT or other seller who is keeping the price down with their sales