HGH - Heartland Group Holdings

[King1212]

This is what i like to hear!!

The Group remains capable of declaring an interim dividend at half year in line with previous‘usual’ dividends, should performance and conditions be supportive. Once the RBNZ restrictionsare removed, subject to the usual prudential considerations, a return to historical pay-out ratiosis expected.

[Bjauck]

RaboBank accounts also have an 03 prefix. I've been banking with RaboBank for many years even when they were guaranteed by their Dutch parent owner and I've never seen the slightest sign that they are financially entangled with Westpac. I suspect WestPac are simply leasing space on their servers to them.

it sounds like both Rabobank and Heartland have an arrangement with Westpac for the processing of transactions - hence the 03 prefix. Heartland also have an agreement for bricks and mortar transactions.

[winner69]

The pedigree hound is always happy to back his own sense for a decent feed. Looking very good so far !


Heck Winner - who are they kidding with $83-$85m, 3 times 29.9m = 89.7m so with ongoing growth they should do $90m+ !!...and they're not utilizing last year's Covid overlay.
Hmmm...opportunity knocks !

You've got it wrong beagle - slow down wand think when you get all excited

Heartland generally makes more in H2 than H1

So 4 months = $30m is H1 likely profit $45m and on recent H1/H2 splits gives $95m for full year ...plus ongoing strong growth gives $100m

At $100m that's an EPS of 17 cents - your 14 PE gives what as a share price ....and what size divie

Answer in Te Reo Maori please

[iceman]

This is the main points I take from it. Have to say I am finding HGH's reports more difficult to read amongst all the woke ****e they increasingly put in their reports. Have bought a few this morning.

As at the end of October, which is the first four months of FY21, NPAT is tracking at $29.9 million (versus full year guidance of $83 million - $85 million).

Margin and Costs have been maintained, with NIM and Cost Income Ratio both in line with expectations
FY 20 dividend of 7c per share but returning to “normal” in 2021. I expect 10c
Overall balance sheet growth has been flat. Repayments from non-core area of Relationship Lending, Open for Business (O4B) and Harmoney have offset growth in core areas of Business 4 Intermediated (up 13% per annum); Motor is up 11.5% per annum; Reverse Mortgages are up 4.4% and 11% respectively per annum in New Zealand and Australia (excluding the FX impact). Lower interest rates and customers utilising the government’s packages appear to have contributed to the level of repayments.
Impairments way down
Economic overlay of $9.6m not been used but kept for 2021
Intermediated (up 13% per annum); Motor is up 11.5% per annum; Reverse Mortgages are up 4.4% and 11% respectively per annum in New Zealand and Australia (excluding the FX impact). Lower interest rates and customers utilising the government’s packages appear to have contributed to the level of repayments. Livestock is also down due to seasonality reasons.

[Waltzing]

Te Rangatahi - book 1 - 3 , published 1980 .. i await the beagle reply but i am not a translator. Ill settle for a market update ...holders since PGC until recently.

[winner69]

Any decent questions asked?

[King1212]

Yup. .I asked when the management is going to send us...royal shareholders some nice cup 🍰...

[BlackPeter]

Any decent questions asked?

What would be the opposite of a decent question? An indecent question? Haven't heard any of these ...

But if you mean with decent question anything which gets the chair to drop his chin and go into hiding ... no, haven't heard any of these either.

A number of (for an AGM) quite irrelevant questions, and some open questions to get more info about the business (but chair didn't bite - i.e. not successful) - otherwise pretty relaxed affair, really.

NZSA asked whether the board should work on improving its digital competency level - and they said that they are good enough above the bonnet :

[Snoopy]

So do you know for certain that it is a wholesale agreement and not merely and agreement use Westpac branches as agents? Have you got any links? Surely the agreement should be available to the public if an account holder is affected by Westpac operations?

https://en.wikipedia.org/wiki/Bank_code

"New Zealand has a 6-digit prefix identical to Australia's BSB code, and although they appear similar (e.g. ANZ bank accounts in both countries start with 01, Westpac with 03), they are not compatible. The first 2 digits indicate the bank and the next 4 digits indicate the branch. All digits, along with the seven-digit account number and two or three digit suffix, are required for all wire transfers regardless of whether the transfer is intra-bank or interbank."

The two bold bits indicate the information you are after. 03 = Westpac

SNOOPY

[winner69]

What would be the opposite of a decent question? An indecent question? Haven't heard any of these ...

But if you mean with decent question anything which gets the chair to drop his chin and go into hiding ... no, haven't heard any of these either.

A number of (for an AGM) quite irrelevant questions, and some open questions to get more info about the business (but chair didn't bite - i.e. not successful) - otherwise pretty relaxed affair, really.


NZSA asked whether the board should work on improving its digital competency level - and they said that they are good enough above the bonnet :

Good question that was ..and the response is a bit of worry ....signs of arrogance and even complacency

S’pose it was about their pretend online banking app.