At the expense of existing retail shareholders.
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Final price at market close today is $1.10 which is somewhat disappointing. Perhaps indicative of a lack of trust, and that post settlement outcomes are anticipated to be less rosy than predicted?
A bit of water to flow under the bridge before Challenger is safely acquired and the transaction events intended are finalised, so we can wait and see what the market thinks during the rest of the month and early in May.
Did someone say this was a Two Buck share a while back ? ;)
The Board seem to have an uncanny knack of putting their foot in any meaningful
term upwards in the SP towards where many self respecting banks are usually priced :)
hasnt been that great of an investment for cap gain , was good as a income stock but that appears to have dis-appeared as well now unless challenger turns into a roaring success. but that will take time. in the mean time the cut in div payout to under 50% of npat implies this may not be a income stock again for a while.
Putting on my cynical hat as I seem to do these days, A reverse pyramid investment. The institutional placement had already eroded our investment but, if past results have shown, we are being asked to add yet more capital for the possibility/probability to expand our capital losses, and to get a reduced dividend. I must learn a new mantra:Australia will be different for this NZ company.
Sell side building… be interesting to see where it gets to?..
Buyers
Buy Quantity
Prices
4 113,262 $1.100
6 19,731 $1.090
12 16,088 $1.080
7 32,161 $1.070
5 100,932 $1.060
14 255,384 $1.050
2 7,020 $1.040
3 12,050 $1.020
5 13,222 $1.010
12 222,110 $1.000
70 791,960
Prices
Sell Quantity
Sellers
$1.110 59,627 7
$1.120 25,000 1
$1.130 40,014 3
$1.140 32,427 3
$1.150 70,000 3
$1.160 15,000 1
$1.190 850 1
$1.200 58,908 2
$1.210 826 1
$1.220 91 1
302,743 23
Sellers possibly selling to cash up to buy into the rights. ie sell @$1.10/buy back at $1.00 = 10% bonus on existing holding
Hi all. My latest column published on my Substack, Just the Business, looks at Heartland's 2028 financial targets. The headline is: Heartland says its targets aren't much of a stretch; analysts are sceptical
and you can find it here: https://substack.com/@justthebusinessjennyruth
HGH projections.From HGH presentation.
"Projections based on growth in Reverse Mortgages, Livestock Finance and Home Loans5 only.5 Home Loans acquired through the acquisition of Challenger Bank and is assumed to be in run-off. "
Therefore HGH have not counted on any motor vehicle or asset financing profits in their Australian projections.
Also;Lenders such as HGH,TRA, etc made a lot of loans when interest rates were very loan.
I watched a Turners presentation where their finance man Aaron,Saunders said it would take another 18 months to 2 years for these loans to be recycled.ie paid back in full and the money relent at new rates.
HGH mentions this in passing,but again I do not think the analysts have taken this into account.
I therefore think HGH will exceed their [in my opinion modest] projections.
I wonder whether Forbar's target price of $1.25 or Craigs' of $1.51 is correct.
I am happy with either,as I will collect the fully imputated divie in the meantime.
You don't think telling people what analysts think - and what I think - is adding anything? I don't agree
Not much different to me posting a link to a paywalled article in say BusinessDesk is it mate
Headline said “Heartland says its targets aren't much of a stretch; analysts are sceptical “ says it all
Read between the lines and you’d say Jenny thinks target are doable.
You could always give Jenny a few Bob and read the whole thing …it’s actually very good piece