WBC - Westpac Banking Corporation

[AMR]

I'm quite keen to buy in at the moment but I'm worried about what seems to be a slowdown in the housing market according to the latest figures. Also, I'm a bit concerned that I'm buying at the end of a cycle since we've had 4-5 years of very good economic growth.

Any advice appreciated. Thanks.

[Snow Leopard]

quote:Originally posted by xxamr_corpxx

I'm quite keen to buy in at the moment but I'm worried about what seems to be a slowdown in the housing market according to the latest figures. Also, I'm a bit concerned that I'm buying at the end of a cycle since we've had 4-5 years of very good economic growth.

Any advice appreciated. Thanks.

4x

You must first resolve the battle within yourself to achieve unity of body, mind and soul.
Then, and only then, will you be able to see the one true way of the sharebuyer.
You must meditate deeply on each and every one of your emotions and determine its' seed. From there you should seek the truth from the sower of that seed, questioning them as to whether they are your friend or your foe and learn how you may use this knowledge to lead you forward.
Once you have triumphed in this quest then you will know whether to buy WBC or remain still.

Lob Sang Paper Tiger

[kura]

Gee Paper Tiger, I'm impressed, I suspect you have missed out on your true vocation in life !

Silly old me thought a reply would include a comparative PER analysis of the main banks, but Mr 4X did ask for "any advice"

[Snow Leopard]

I can do that as well.

There are three banks listed on the main board of NZSX, but NAB never trades so that leaves ANZ and WBC
The only significant difference between the two is that ANZ's favourite colour is Blue and Westpacs' is Red. Otherwise they trade on about the same P/E and have near identical forward P/Es, similar dividend yields etc.

So pick your favourite colour.

If you want more colour choice then look at to ASX.

[baxter]

I am also most impressed Paper Tiger after years of indecision and finally timidly taking the plunge. As for Westpac I've been with them since they took over trustbank, I ditched half when they shifted from NZ to Aust. They promptly rose by about 40% to where they are today.I don't know the stats but they have been a rewarding share to hold despite the lack of imputation credits. I can't foretell the future but I am holding on to the remainder of mine...I bank with TSB.

[AMR]

A question for Baxter -

According to my research from ASB securities WBC shares gives fully franked dividends. What do you mean when you say they lack imputation credits?

Thanks

[777]

xxamr corpxx the franking is only available to Australian tax payers and not NZ tax payers. Imputation on NZ shares is all that is available to NZ residents.

[zyreon]

westpac has good shareholder perks e.g. +/- bps on term investments/loans, fee waivers etc

banks can provide good returns, high ROE re the low use of capital, new BIS rules on capad mean smart banks will get to use less capital too.

both ANZ & WBC have DRIP

[cantab]

Gail Kelly boss of SGB to replace the retiring David Morgan next year. Gail has a good track record at SGB.

[cantab]

Picture of Gail in today's Press, very smart!

UBS say "We view this as a positive appointment for Westpac given Gail's track record at St George."

UBS raised Westpac to its best buy in the bank sector after her appointment.

Last month JBWere upgraded Westpac to "BUY" saying "WBC trades at a significant discount to peers despite market share gains and improving momentum across the bank".