Buy @ $3.00. Financial meltdown in US is happening with Lehmen Brothers filing for Chapter 11 and ML takeover by BOA, DJIA -504.48. Everything is getting cheaper everyday! 😀
HLFin @ $3.13
HLFin @ $3.16
Buy @ $3.16. STI -70. Latest Q208 NAV = $3.11, PE 10.x. NAV may provide the resistance for this banking stock. EPS may have peaked on Q407 (Annualised 35.42ct) and is now on the decline (Annualised : Q1 27.74ct ; Q2 28.17ct). I think it’ll drop to low 20s by Q408 and may even slip below 20ct if they do some aggressive write-offs (if recession and loans turn bad).
Yield would be 8.228% using FY07 DPS but this is not too meaningful as it includes Speicial Div (clear their S44 credits). If we remove the 6ct Special (Q307) and use Q208 (5ct) instead of Q207 (6ct), the yield would be 6.013%. Note that if Q3 and Q4 div were further reduced, the yield will drop further. But, my optimisitic projection is an FY08 EPS of 22-24ct and if they were to do a 100% payout, the yield will be closer to 7%.
Finally re-joins TC and David as s/h. 🙂
HL Fin @ $3.62
HL Fin @ $3.56
Buy @ $3.56. Didn’t do a detailed research.
Price hv dropped fm $3.84 since FY05 results were announced on end-Feb. Net Profit was down 8.8% (EPS dropped fm 20.05cts to 18.20cts). Even tho’ both loans and deposits had gone up, their interest expenses had gone up (their deposits are not enough to cover their loans, so they had to borrow, likely interbank and that interest had shot up quite a bit) even faster.
Div 12cts final + 5cts special ; xd 5-May.
The last time share price hit this lvl was Jul-05 and the 1-yr low is aro’ $3.14. NAV is $3.15 (up fm $2.81), so it may drop all the way to NAV for me to avg down! 😀