WBC 0.72% $25.25 westpac banking corporation

Westpac cum div & still down, page-3

  1. 7,397 Posts.

    Here's one from from Egoli guys
    Westpac Banking Corporation (WBC)

    Current Price: $14.34
    12-Month Target Price: $16.48 Valuation: $15.97
    Recommendation: BUY

    Investment Opinion
    Following the dilutionary impact of the AGC sale and BT acquisition, WBC has a lower short-term earnings growth profile than some of its major bank peers. We also see considerable risks in the integration of the BT funds management acquisition. However, the current share price appears to fully incorporate the BT integration risks and is trading well below our valuation. BUY.

    Earnings Outlook
    WBC's underlying businesses are performing well, driven by strong growth in housing lending, continued cost containment and a relatively benign bad debt outlook. However, the earnings growth outlook for FY03 and FY04 has been weakened as a result of the dilutionary impact of the sale of AGC and acquisition of BT Funds Management. While we are forecasting a strong rebound in EPS growth in FY03, this is from a low base that was impacted by the $150M write-down of investment securities.

    SG Comment
    WBC remains well below the 12-month target price of $16.48 and valuation of $15.97. Investors seeking exposure to the upcoming dividend and potential franking credits of $0.36 and $0.154 respectively should consider an SG WBC instalment with the appropriate level of gearing and time frame.
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Mkt cap ! $92.63B
Open High Low Value Volume
$25.20 $25.30 $25.14 $130.8M 5.185M

Buyers (Bids)

No. Vol. Price($)
1 803 $25.25

Sellers (Offers)

Price($) Vol. No.
$25.26 12373 1
View Market Depth
Last trade - 16.10pm 24/09/2021 (20 minute delay) ?
0.180 ( 0.37 %)
Open High Low Volume
$25.26 $25.30 $25.14 424087
Last updated 15.59pm 24/09/2021 (live) ?
WBC (ASX) Chart
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