Originally Posted by
Paper Tiger
1Q statements lack a lot of the detail of full year and only cover the bank, which is not yet all of HNZ.
But they have a net impairment expense of
$3,306K (with rural being $399K)
as opposed to this time last year when it was
$1,838K (with rural being $10K)
Interestingly 90+ day overdue loans on rural as gone from $17,904K to $11,704 in the last three months, possibly as a result of some/many them being reclassified given that Heartland are supporting dairy in these difficult times.
Whilst I think winner69 and his $60M is just winner69 being winner69 I am going to suggest that the $55M end of guidance is looking very achievable at the moment.
And so hot from the Paper Tiger Institute of Obscure Numbers:
Current value: $1.373
30-Jun-16 value: $1.428
30-Nov-16 value: $1.465
Assuming nothing special whatsoever happens. (i.e. No Tier2, no buybacks, no MTF, No smoking...)
Best Wishes
Paper Tiger