WBC - Westpac Banking Corporation

[Chipp]

ASX banks trading on 15x forward has never been value and i dont believe anything has happened to change that view in fact quite the contrary with bond yields where they are . I will never buy banks trading on these multiples , these are the prices i would sell them if i owned them ....

PS i already can see someone tapping out CBA as the exception . the premium attached to that bank is why its on my never buy it list

 

[divs4ever]

The US has a different loan structure than us, and they can walk away from a mortgage with fewer consequences. The shorting never helped either, it is one thing they should never allow in Australia as our market is a lot smaller.

but short-selling goes on here as well ( between selected traders )

only 'naked short-selling ' is officially banned here

ShortMan - Top 100 shorted stocks on the ASX

The top 100 shorted stocks on the ASX, by short position. The full list of shorted positions is also available for download.

www.shortman.com.au

 

[Chipp]

but short-selling goes on here as well ( between selected traders )

only 'naked short-selling ' is officially banned here

ShortMan - Top 100 shorted stocks on the ASX

The top 100 shorted stocks on the ASX, by short position. The full list of shorted positions is also available for download.

www.shortman.com.au

I think the ability to short a stock is fine , shorting ASX banks is not known as the widow maker for nothing , there only a few select periods over the decades where bank shorts have paid of for longer than a couple months

 

[TimeISmoney]

but short-selling goes on here as well ( between selected traders )

only 'naked short-selling ' is officially banned here

ShortMan - Top 100 shorted stocks on the ASX

The top 100 shorted stocks on the ASX, by short position. The full list of shorted positions is also available for download.

www.shortman.com.au

Yeah I know, I also look at the ASX daily short list, and the one you posted is a few days behind.

Companies that come into financial difficulties can't raise capital because no investor will buy new shares due to the large number of shorts, it's meant to be capped at 12% here and it goes well over. It's also easy for a large group to manipulate the market.

If everyone decides to short what will be left of the stockmarket?

 

[divs4ever]

Appointment of Andy Maguire to the Westpac Board

Westpac Banking Corporation (Westpac) has today announced the appointment of Andy Maguire as an independent Non-executive Director.
Mr Maguire is expected to join the Board in mid July 2024, following the completion of regulatory and Australian visa requirements. Westpac Chairman, Steven Gregg, welcomed Mr Maguire’s appointment saying, “Andy is a highly respected global leader in digital transformation.
His deep experience in technology infrastructure in the banking sector will further strengthen the Board and complement the skills of existing Directors.
In particular, Andy’s capabilities will be a valuable asset for Westpac as we execute our technology simplification through the UNITE program.”

About Andy Maguire Mr Maguire has more than 35 years’ experience in financial services and began his career in banking at Lloyds Banking Group.
From 2014 to 2020 he was Group Chief Operating Officer at HSBC Holdings plc with responsibility for operations, technology, real estate, change and transformation and operational resilience.
Previously he spent 16 years with the Boston Consulting Group, where he became Managing Partner of the London office covering the UK and Ireland, and a member of the firm’s global executive committee, as well as formerly serving as Global Head of Retail Banking.
Mr Maguire is currently Chairman of UK banking software fintech Thought Machine Group.
He is also an independent Non-executive Director of AIB Group plc, a financial services group operating predominately in the Republic of Ireland and the UK.
Mr Maguire previously held Chair positions with RegTech compliance company Napier AI and IT service management provider CX Holdings (Cennox Group).

i hold ( a small number of ) WBC

hmmm

independent , non-exec , let's see how long that lasts ( especially considering he has seats on boards in the UK )

 

[farmerge]

WBC Wespac Banking Corporation.
I have no real joy in nominating a bank for the Competition, but reality says it is best to have one.
WBC SP is solid and up on the end of last month's close, so it is proving it's worth.

 

[farmerge]

WBC Westpac Banking Corporation. another of my Yearly Comp picks.
The banks do nothing for me as o loath them, but a necessity to one in the Comp.
WBC is maintaining a growth patten each month so far.
Has proved its worth for me in this this Comp.

 

[farmerge]

WBC Got to have a thieving bank in the Yearly Comp and I see WBC as a must hold.
Another that has keep its SP on a healthy rise this year.

 

[UMike]

Only 10c off selling a large portion today. Upped the offer by 1% just now.

Amazing run considering it was a very poor performer for a long time.

 

[farmerge]

Only 10c off selling a large portion today. Upped the offer by 1% just now.

Amazing run considering it was a very poor performer for a long time.

banks...money making machines

 

[Tyre Kicker]

… and yet, people were unsure if they should buy them the past 3 years.

Couldn’t get enough of them.

 

[UMike]

Only 10c off selling a large portion today. Upped the offer by 1% just now.

Amazing run considering it was a very poor performer for a long time.

After kicking myself for being too cheeky 2 weeks ago got them now for even an extra 10c.

Crazy times.
Don't really feel smarter. Just luckier.

The was an Ann that helped:

 

[farmerge]

WBC Westpac Banking Corp. A must have in a comp like this.
The thieving banks only have one criteria, that is make lotsa money. The SP just keeps on improving.
A definite hold.

 

[finicky]

Market Matters afternoon report:

• A clear rotation out of the banks today with Commonwealth Bank (CBA) -3.04%, National Australia Bank (NAB) -3.02%, Westpac (WBC) -2.35% and ANZ Group (ANZ) -1.9%

WBC Held

 

[Tyre Kicker]

I sold some of my banks last week and jumped in to the big miners.

Had to take profits from the banks. They’ve had a wonderful run.

 

[UMike]

Same. Got some more to take profits from but can't see any sign of a retracement yet.

JDO is the one that i am going to lighten next

 

[farmerge]

Wespac Banking Corporation. As I have stated a few times, one of the thieving banks is a must.
The SP is still climbing at a steady rate.
The only shing light in the Comp for me this month.
A hold also.

 

[farmerge]

WBC Westpac Banking Corporation. A thieving bank which one must have in any Comp.
SP is down a touch on last months end, but a powerhouse company.

 

[Dona Ferentes]

12 announcements .. nothing on Anti slavery, though

 

[Dona Ferentes]

• Net profit of $6.9 billion for FY2024, down 3 per cent from a year ago.
• Net interest income edged up 2 per cent to $18.7 billion in the year.
• Will pay a final dividend of 76¢, fully franked, up 6 per cent from last year and a total of $1.51 for the year, which was towards the upper end of guidance.
• It has increased its share buyback program by $1 billion.

The bank said the domestic economy was showing positive signs with consumer sentiment at a 2½-year high, the labour market holding up well and inflation nearing target.