I am more than happy with the 9% H1 increase,and the increased dividend.
I don't share your expectations.
So happy, I am buying back some of the shares I sold a few weeks ago.
Currently buying at $1.16,.
Printable View
There's currently only one buyer at $1.16...now filled. Market quite rightly, in my opinion, remains concerned about how long banks carry loss making customers whether its dairy, mining, whatever... in HBL's case obviously dairy is still a contingent issue and until there's a meaningful recovery in the GDT auction price, (strong correlation as suspected and subsequently demonstrated by Winner69 with his graph) I think it will be difficult for the HBL's SP to make real progress north. That said there's the good fully imputed yield at this price should be supportive of SP around these level's I would have thought.
Most Australasian banks have seen their forward PE's clipped back on asset quality concerns...HBL simply following the international trend in that regard.
Disc - Waiting to buy when GDT auction prices show a real recovery.
I really don't understand why after beating expectations, hiking the dividend (something Forsyth at least wasn't expecting) and showing robust strength all round, the share price didn't move...?!?
Hi Michael,
I think it's simply to do with the global investment community being cautious in general, and the market factoring in a little bit of dairy induced weakness for the upcoming years. If you feel it's being incorrectly undervalued, then buy up large, then sit back, relax and enjoy your growth and divvys.