you've been reading my mail TJ (post 7145)
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Fed Farmers say 11%of dairy farmers were under scrutiny by their banks, compared with 7%in November and 6% in August.
Banks call this Strategic Debt Management - better outcomes in helping farmer out of the industry and hopefully recover more than just foreclosing / receivership
We should be grateful to Heartland management they have essentially avoided this impending fiasco
Yes Heartland Bank management/directors certainly need congratulating on their aggressive cautious stewardship.Perhaps having a lot of skin in the game makes them more focussed?
The Australian banks have not faired so well.Luckily HBL face fewer headwinds than them,yet they are being contaminated by association.!.
Over the past year ANZ sp is down 37%, BOQ down 24.43%,CBA down 23.2%,NAB down 31% and WBC down 32,7%
Growing roe, eps and dividends will eventually see a rising sp for HBL.In the meantime the ratios look very solid and modest to me.
Just had a look on ANZ securities charts and yes indeed HBL has been a real out-performer against the backdrop of a severe general correction in banking stocks. Only down 15% from $1.33 to $1.13 over the last 12 months, mitigated further by good fully imputed dividends. Good result considering how poorly many of the other Australian and international banks have shocked their shareholders. No mining exposure has been a real blessing for HBL shareholders. That said until fears of a global recession ease and until there's a genuine bounce in commodity prices that ease asset quality concerns, I expect the banking sector to remain under pressure, (HBL probably continue to outperform on a relative basis). Its been a very tough start to 2016 for many stocks with many tigers, cats and dogs very busy licking their wounds.