“Big 4” Aussie Banks Steadily Becoming “Big 1+3”
The Commonwealth Bank seems to be slowly but surely drawing away from the NAB, Westpac and the ANZ – each of which seems powerless to close the inexorably widening gap.
Read MoreTag: NAB
NAB – UBS rates the stock as Neutral
The broker’s rating falls to Neutral from Buy, after a strong recent share price rally. The target price rises to $35 from $33.
Read MoreNAB Continues Rebound with Higher Earnings, Payout
National Australia Bank has lifted cash earnings 4.1% in the six months to March 31 to $3.48 billion and boosted dividend to 73 cents a share from 67 cents a year ago.
Read MoreNAB 2.0 Continues its Metamorphosis
After being battered by the 2018 banking royal commission and losing numerous board members as sacrifices, the NAB seems to have forged a new path under new CEO Ross McEwan.
Read MoreNAB to Tighten Anti-Laundering Process
NAB said on Monday that it had entered into an Enforceable Undertaking with AUSTRAC after an investigation confirmed flaws in the bank’s compliance with money laundering laws.
Read MoreNAB – Morgans rates the stock as Hold
National Australia Bank is now Morgans preferred big four bank exposure and the target price rises to $34 from $30.50. Hold.
Read MoreBourse Discourse: JBH, NAB, SXL
Plenty of positive news from the Thursday ASX trading session, including these announcements from JB Hi-Fi, National Australia Bank and Southern Cross Media Group.
Read MoreNAB Double-Dips with Another Buyback
There were rumours around late last week that the National Australia Bank was planning to extend its current multi-billion-dollar buyback and Thursday it did just that. Kind of.
Read MoreNAB – Morgan Stanley rates the stock as Equal-weight
For National Australia Bank, the Equal-weight rating is retained, while the target price rises to $31.50 from $31.
Read MoreNAB – Macquarie rates the stock as Outperform
The Outperform rating and $32.50 target for National Australia Bank are maintained.
Read MoreNAB – UBS rates the stock as Buy
The broker likes National Australia with its potential for strong volume growth. The Buy rating and $30.50 target are unchanged.
Read MoreNAB Keeps the Good Times Rolling for Banks
Investors gave a big thumbs up to the National Australia Bank’s first quarter trading update, even though the bank, like its peers, saw its net interest margin crimped.
Read MoreNAB – Morgan Stanley rates the stock as Equal-weight
National Australia Bank is rated Equal-weight, with a fresh price target of $28.50 (was $27.90).
Read MoreDiscourse from the Bourse: ADH, NAB
From the ASX on Thursday: Adairs has surprised with an $80 million plunge into the furniture market, while NAB’s acquisition of Citi’s Australian consumer banking businesses has met with ACCC approval.
Read MoreNAB – Morgan Stanley rates the stock as Equal-weight
Following FY21 results, Morgan Stanley makes only minor changes to its forecasts for National Australia Bank and retains its Equal-Weight rating and target price of $27.90.
Read MoreBig Four Banks Back to their Best
Tuesday’s solid full year result from the National Australia Bank concluded the strong recovery the big four have made from the pandemic damaged 2020 financial year.
Read MoreLike Peers, NAB Enjoys Rebound Year
For the year to September 30, the NAB says earnings bounced back strongly from 2020’s pandemic hit performance as lower bad and doubtful debt charges boosted returns.
Read MoreNAB – Credit Suisse rates the stock as Neutral
Credit Suisse downgrades to Neutral from Outperform, noting the stock has rallied 5% over the reporting season and is up 64% on a rolling year basis. Target is steady at $28.50.
Read MoreNAB – Morgans rates the stock as Hold
Morgans retains its Hold rating and $27.50 target price after third quarter unaudited cash earnings of $1.70bn was announced.
Read MoreNAB Result Continues Good Run for Aussie Banks
National Australia Bank has reported a 10.3% rise in unaudited cash earnings to $1.70 billion for the three months to June – its first quarter.
Read MoreNAB – Morgans rates the stock as Hold
Due to recent share price strength the broker lowers its rating to Hold from Add and the $27.50 target price is unchanged.
Read MoreA Spot of Wheeling and Dealing Among the Banks
Opposite tacks for Westpac and NAB on Monday, with the former offloading its Australian life insurance business and the latter buying Citibank’s domestic consumer arm.
Read MoreNAB – Morgans rates the stock as Add
Morgans upgrades its rating to Add from Hold in light of recent share price weakness, and retains its $27.50 target price.
Read MoreNAB Joins ANZ on Buyback Track
Melbourne’s two Big Four banks – ANZ and now NAB – have beaten the Sydney-based Commonwealth and Westpac to the buyback club, with NAB’s $2.5 bn action trumping ANZ’s by $1 bn.
Read MoreTrouble Afoot for Three Casinos and a Big Bank
It was a very busy Monday for AUSTRAC, the country’s main financial intelligence group, which has launched separate investigations into four ASX-listed companies.
Read MoreNAB – Citi rates the stock as Neutral
Given the risk suggests limited upside, the broker retains Neutral and a $26.25 target.
Read MoreMarket Nonplus about NAB Result
Like the way they greeted the solid result from ANZ, investors gave NAB shares a good whack yesterday despite a higher interim profit and dividend.
Read MoreAnd NAB Makes Three with Solid Rebound
NAB has joined Westpac and the ANZ in returning to paying an interim dividend after reporting a solid rebound in earnings for the six months to March 31.
Read MoreNAB – Macquarie rates the stock as Neutral
Macquarie draws upon the UK experience to estimate the impact upon bank margins of lower rates for lower loan-to value ratio (LVR) mortgages. The Neutral rating and $26.75 target are retained.
Read MoreACCC Gives Green Light to NAB Deal
NAB’s $220 million acquisition of neobank 86 400 has been greenlit by the Australian Competition and Consumer Commission without conditions or fears about reduced competition.
Read MoreNAB – UBS rates the stock as Buy
The first quarter pre-provision profits were in line with expectations. Cash net profit was ahead, given lower credit impairment charges. UBS Buy retained. Target rises to $27 and $25.
Read MoreNAB Result Confirms Rosy Outlook for Banks
NAB has joined CBA in confirming that the country’s big four banks remain in good health as revenue, business and profits ride out the COVID-dominated economy.
Read MoreAPRA Paves Runway To Higher Bank Dividends
In more good news for investors, APRA has eased its dividend guidance for the banks and, from the start of 2021, will no longer be holding lenders to a minimum level of earnings retention.
Read MoreANZ, NAB Face Up To AGMs After Westpac Dangles Dividend Carrot
ANZ Bank and National Bank hold their annual meetings this week and should have an easier ride than Westpac did on Friday. Westpac pledged at the meeting that shareholders will see a return to normal dividend payments in 2021 following a tumultuous year that has swiped the bank’s profits by 66%.
Read MoreInvestors Pin Hopes On Recovery At NAB
Thumbs up from investors for the National Australia Bank’s full-year results, despite the slide in earnings and lower dividend. NAB shares climbed 3.2% to $19.31. That was despite a 10.7% rise in costs for the year which would normally be a big worry for investors and analysts.
Read MoreBank Reporting Evokes Mixed Reaction From Analysts
As expected the COVID-19 pandemic, lockdowns, and the surge in unemployment and business problems whacked every measure at Australia’s big four banks in the year to September 30.
Read MoreDividend Slashed As NAB Earnings Slump 36%
The National Australia Bank has joined rivals ANZ and Westpac in slashing final year dividend after COVID-19 and the recession whacked earnings in the year to September 30.
Read MoreNAB Flags More Impairments As Investors Await ANZ Results
ANZ Bank kicks off the 2019-20 bank reporting season on Thursday but the NAB snuck on in Friday with a pre-release update of its own with news of another $600 million-plus of losses and impairments, including wage underpayments to staff.
Read MoreRBA Issues Banks Clean Bill Of Health Despite “Elevated Risks”
Buried in the Reserve Bank’s latest Financial Stability Review is the best news the country (and the governments) have had since the COVID-19 pandemic started ravaging the economy in February – Australia’s banks are healthy and have more than enough capital to support the economy during the slowdown without getting into trouble.
Read MoreMoody’s Backs “Credit Positive” Sale Of MLC
Credit ratings group, Moody’s likes the NAB’s sale of its MLC wealth advisory business to IOOF. After the $4.5 billion capital raising earlier in the year, Moody’s says the MLC sale will be a significant boost to the bank’s capital adequacy.
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