SGB - St George Bank

[bullspread]

Hi

Just wondering what your thoughts are on SGB in the near short-term? I was long 18.50 puts until closing them yesterday. I am interested to hear from both sides ....fundamental and technical! All posts welcomed.

 

[Sean K]

SGB broke way up recently and then formed a giant pole and pennant, giving a price target of $35.00 on breakout. Did start to break out last Thur but then pulled back with the market on Friday. Will probably be an off day today, so maybe one to watch tomorrow for a push back to all time high, and if confirmed should still head to the target price.

(don't hold. yet)

 

[swingstar]

kennas, I noticed that as well, and it got dumped on Friday. I wonder if the trend will continue... to me it looks weak, although dividends are coming up in a month or so.

 

[The Mint Man]

Dont put your money in SGB, their gonna go down in a big way soon. I have it on good word. sarcasm intended

And when the crash comes, I'm almost certain that one of the banks will go down too. St.George, for example, has been using mortgage brokers to lift their lending figures - and it's lo-doc or no-doc loans that they've been giving out. Bad for them and bad for the poor suckers who have overborrowed without taking into consideration interest rate rises or a potential rise in unemployment. Both only have one way to go.

You can read the whole post here: https://www.aussiestockforums.com/forums/showthread.php?p=92529#post92529 See post 551

cheers

 

[blinkau]

Did anyone receive the prospectus for the St George Converting Preference Shares 2 ? If so does anyone have any opinion on it?

 

[2020hindsight]

just for the record
here's SGB for the last 2 years (High Low Close) + averages
Also SGB vs XAO for last 12 months (candlestix) + ditto (percent indicates relative preformance campared to datum of XAO)

PS I plan to do this to a few stocks - please feel free to either
a) help out and divvy the job up between a few of us
b) suggest amendments to graphs
c) request some stocks you'd like me to post (maybe PM me)
d) tell me it's not necessary lol (or too wasteful of memory maybe?)

 

[blinkau]

Does anyone understand the Share Purchase Plan?

St.George wants to give shareholders the opportunity to increase their shareholding at the lower of:
(a) 97.5% of the VWAP of shares sold between the 21st Feb and 27th Feb 08
(b) the price paid by the institutional investors in the placement, being $35.00 per share

Can anyone make sense of this I assume its a 2.5% discount to the price the shares traded at between 21st and 27th of Feb, why can't they just give us a price. With the shares trading so low at the moment I wouldn't want to subscribe and end up paying say $30.00.

Is it just made like this instead of a firm price that people would see it may be trading below?

 

[YELNATS]

Does anyone understand the Share Purchase Plan?

Can anyone make sense of this I assume its a 2.5% discount to the price the shares traded at between 21st and 27th of Feb, why can't they just give us a price. With the shares trading so low at the moment I wouldn't want to subscribe and end up paying say $30.00.

As a current holder I wouldn't mind paying $30 as this would mean an
average price of $30.77 from Feb 21-27 which would be 13.7% above todays' closing price of $27.06.

 

[blinkau]

Haha I was thinking today before I got the letter with how low its trading what if they say 'the share placement is at $30' nobody would subscribe and the underwriter (if there is one) would be up for a big bill. I guess the mumbo jumbo they used to write it in might trick a few people but its so frustrating to see the company word it like that so most holders wouldn't have the slightest idea what they are paying

SGB are starting to really annoy me as a share holder