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Tag: NAB

Markets / Shares

“Big 4” Aussie Banks Steadily Becoming “Big 1+3”

May 13, 2022May 13, 2022 - by Glenn Dyer

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.

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Broker News

NAB – UBS rates the stock as Neutral

May 9, 2022 - by Broker News

The broker’s rating falls to Neutral from Buy, after a strong recent share price rally. The target price rises to $35 from $33.

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Markets / Shares

NAB Continues Rebound with Higher Earnings, Payout

May 5, 2022 - by Glenn Dyer

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.

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Markets / Shares

NAB 2.0 Continues its Metamorphosis

May 2, 2022May 2, 2022 - by Glenn Dyer

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.

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Markets / Shares

NAB to Tighten Anti-Laundering Process

May 2, 2022 - by Glenn Dyer

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.

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Broker News

NAB – Morgans rates the stock as Hold

April 28, 2022 - by Broker News

National Australia Bank is now Morgans preferred big four bank exposure and the target price rises to $34 from $30.50. Hold.

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Markets / Shares

Bourse Discourse: JBH, NAB, SXL

March 24, 2022March 24, 2022 - by Glenn Dyer

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.

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Markets / Shares

NAB Double-Dips with Another Buyback

March 24, 2022 - by Glenn Dyer

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.

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Broker News

NAB – Morgan Stanley rates the stock as Equal-weight

March 18, 2022 - by Broker News

For National Australia Bank, the Equal-weight rating is retained, while the target price rises to $31.50 from $31.

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Broker News

NAB – Macquarie rates the stock as Outperform

March 11, 2022 - by Broker News

The Outperform rating and $32.50 target for National Australia Bank are maintained.

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Broker News

NAB – UBS rates the stock as Buy

March 1, 2022 - by Broker News

The broker likes National Australia with its potential for strong volume growth. The Buy rating and $30.50 target are unchanged.

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Markets / Shares

NAB Keeps the Good Times Rolling for Banks

February 10, 2022February 10, 2022 - by Glenn Dyer

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.

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Broker News

NAB – Morgan Stanley rates the stock as Equal-weight

January 21, 2022 - by Broker News

National Australia Bank is rated Equal-weight, with a fresh price target of $28.50 (was $27.90).

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Markets / Shares

Discourse from the Bourse: ADH, NAB

November 25, 2021November 25, 2021 - by Glenn Dyer

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.

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Broker News

NAB – Morgan Stanley rates the stock as Equal-weight

November 10, 2021 - by Broker News

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.

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Markets / Shares

Big Four Banks Back to their Best

November 9, 2021November 9, 2021 - by Glenn Dyer

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.

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Markets / Shares

Like Peers, NAB Enjoys Rebound Year

November 9, 2021 - by Glenn Dyer

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.

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Broker News

NAB – Credit Suisse rates the stock as Neutral

September 13, 2021 - by Broker News

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.

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Broker News

NAB – Morgans rates the stock as Hold

August 13, 2021 - by Broker News

Morgans retains its Hold rating and $27.50 target price after third quarter unaudited cash earnings of $1.70bn was announced.

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Markets / Shares

NAB Result Continues Good Run for Aussie Banks

August 12, 2021 - by Glenn Dyer

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.

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Broker News

NAB – Morgans rates the stock as Hold

August 11, 2021 - by Broker News

Due to recent share price strength the broker lowers its rating to Hold from Add and the $27.50 target price is unchanged.

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Markets / Shares

A Spot of Wheeling and Dealing Among the Banks

August 9, 2021August 9, 2021 - by Glenn Dyer

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.

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Broker News

NAB – Morgans rates the stock as Add

August 2, 2021 - by Broker News

Morgans upgrades its rating to Add from Hold in light of recent share price weakness, and retains its $27.50 target price.

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Markets / Shares

NAB Joins ANZ on Buyback Track

July 30, 2021July 30, 2021 - by Glenn Dyer

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.

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Markets / Shares

Trouble Afoot for Three Casinos and a Big Bank

June 7, 2021June 7, 2021 - by Glenn Dyer

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.

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Broker News

NAB – Citi rates the stock as Neutral

May 7, 2021 - by Broker News

Given the risk suggests limited upside, the broker retains Neutral and a $26.25 target.

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Markets / Shares

Market Nonplus about NAB Result

May 6, 2021May 6, 2021 - by Glenn Dyer

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.

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Markets / Shares

And NAB Makes Three with Solid Rebound

May 6, 2021May 6, 2021 - by Glenn Dyer

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.

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Broker News

NAB – Macquarie rates the stock as Neutral

March 31, 2021 - by Broker News

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.

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Markets / Shares

ACCC Gives Green Light to NAB Deal

March 30, 2021March 30, 2021 - by Glenn Dyer

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.

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Broker News

NAB – UBS rates the stock as Buy

February 17, 2021 - by Broker News

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.

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Markets / Shares

NAB Result Confirms Rosy Outlook for Banks

February 16, 2021February 16, 2021 - by Glenn Dyer

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.

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Shares

APRA Paves Runway To Higher Bank Dividends

December 16, 2020December 15, 2020 - by Glenn Dyer

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.

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Shares

ANZ, NAB Face Up To AGMs After Westpac Dangles Dividend Carrot

December 14, 2020December 13, 2020 - by Glenn Dyer

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%.

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Shares

Investors Pin Hopes On Recovery At NAB

November 6, 2020November 5, 2020 - by Glenn Dyer

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.

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Shares

Bank Reporting Evokes Mixed Reaction From Analysts

November 6, 2020November 5, 2020 - by Glenn Dyer

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.

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Shares

Dividend Slashed As NAB Earnings Slump 36%

November 5, 2020November 5, 2020 - by Glenn Dyer

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.

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Shares

NAB Flags More Impairments As Investors Await ANZ Results

October 26, 2020October 25, 2020 - by Glenn Dyer

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.

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Markets / Shares

RBA Issues Banks Clean Bill Of Health Despite “Elevated Risks”

October 14, 2020October 13, 2020 - by Glenn Dyer

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.

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Shares

Moody’s Backs “Credit Positive” Sale Of MLC

September 4, 2020September 4, 2020 - by Glenn Dyer

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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  • The Falls in Share Markets – the Bad News and the Good
  • Trafigura Taking Lithium Supply Matters into its Own Hands
  • Where are All the Chairs Now the Music Has Stopped?
  • The Week that Was – May 16-20, 2022
  • CGF – Credit Suisse rates the stock as Neutral

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4Q reveals more focus on profit and cash flow

• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.

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    Signs MOU with Ford Company – Kachi is now sold out!

    Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded.

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      Strategic Vanadium-battery growth with Titanium & Iron earnings resiliency

      TNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines.

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        Promising exploration and development update while SOP prices continue to rise

        Two recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell.

        TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade.

        Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn.

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          Biopharmas Hit, but Buying Opportunities Created

          The news being reported about the performance of biotechnology has been dour, to say the least, for some time now. Those dour articles have been deserved with the iShares Biotechnology Exchange-Traded Fund down 25% and the SPDR® S&P® Biotech ETF is down 45% from their highs. However, those articles are backward-looking, and successful investors need to be looking forward.

          Recently, however, an article in Nature Reviews Drug Discovery caught our eye which we believe should point the way forward for the vast majority of Australian biotechnology investors. This article indicates that, at least, two companies, Antisense Therapeutics (ANP) and Kazia Therapeutics (KZA), are right in the sweet spot in terms of the future of drug development.

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            Biopharmas Hit, but Buying Opportunities Created

            The news being reported about the performance of biotechnology has been dour, to say the least, for some time now. Those dour articles have been deserved with the iShares Biotechnology Exchange-Traded Fund down 25% and the SPDR® S&P® Biotech ETF is down 45% from their highs. However, those articles are backward-looking, and successful investors need to be looking forward.

            Recently, however, an article in Nature Reviews Drug Discovery caught our eye which we believe should point the way forward for the vast majority of Australian biotechnology investors. This article indicates that, at least, two companies, Antisense Therapeutics (ANP) and Kazia Therapeutics (KZA), are right in the sweet spot in terms of the future of drug development.

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              Coal prices up, debt down – It’s payback time

              Strong 1H22 but the real story unfolds in 2H22.

              TerraCom made two announcements to the ASX on the 28th February – the first was their 2021 Half Year 2021 result which indicated that TER continues to report strong operating metrics as well as enjoying buoyant thermal coal markets which is allowing them to pay down debt at an accelerated pace.

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                Hitting goals – Making four material announcements

                We initiated on Magnis Energy Technologies (MNS.ASX) in December 2021 and since then, MNS has made four material announcements. Firstly; a conditional offtake contract for 600,000t of graphite concentrate from the Tanzanian Nachu Project (net 100%) was signed with Traxys, a global
                commodities merchant with annual revenue of ~US$6Bn; secondly; semi autonomous production has started at battery gigafactory iM3NY, thirdly;
                exciting Extra Fast Charge battery tests were reported and most recently, the game changing launch of the Lithium Slim Energy Reserve battery platform, which supports C4V’s growing EFC capability.

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                  Increasing our Target

                  Despite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics.

                  We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d.

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                    Emerging Financial Wealth Advisory Group

                    WT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand.

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                      Immutep Taking the Fight to Cancer

                      In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti).

                      This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20.

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                        Phillips 66 to acquire 16% in NVX – 12-month target price rises 7% through project de-risking

                        Phillips 66 (PSX) has entered into an agreement with NVX to acquire 77.9m new shares for US$150m (A$203m). PSX is the worlds largest producer of speciality petroleum coke a precursor for battery grade synthetic graphite anode materials found with an Enterprise Value of US$47.5Bn and assets of US$57Bn.

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                          Market leading lifelong learning platform technology company in Australia and SE Asia

                          PayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion.

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                            Market leading lifelong learning platform technology company in Australia and SE Asia

                            OpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia.

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