Hmmmm, Its interesting that the 3 cps fall, (wiping about $16.8m off the market cap is bang on the money in terms of the mid point of the net expected effect of the new provisioning standards), maybe the market is more efficient than we give it credit for sometimes or maybe this is just coincidence, who knows ?
Speaking of efficient markets, possibly the PE is also bang on the money, (forward PE about 12.7) at closing price.
I looked at the FY19 projected PE's of NAB, ANZ, WBC, CBA, BEN and BOQ just now. Average forward PE is 12.5 based off 4 traders data. Average projected FY19 EPS growth rate, (to be revised as some companies haven't reported FY18 earnings yet) is 4.4%.
Market pretty efficient in this instance, pricing HBL exactly where it should be at the closing price in my opinion. Holding for yield and maybe a little bit of eps growth ?