HGH - Heartland Group Holdings

[Rawz]

Rawz ….Book Value is $1.45 ……up a bit from $1.36 last year

New capital was $201m and Retained Earnings etc increased by $21m

Priced about right. If I held I would take the DRP

Half year will be interesting

[BlackPeter]

Not alarm bells yet rawz

But my confidence / admiration / faith in Jeff is waning

But he did say they going to double profits in next 5 years

So 110m to 220m …. Suppose getting to say 120m in 2024 is a small step on the way …but will have to do a lot better than for the following 4 years

Yeah, I noticed this "doubling of the profits in 5 years" as well - Jeff clearly seems to be much more optimistic than the usual analysts. Jeesh - this would be a CAGR of 15%!

Just to compare:

HGH's backwards earnings CAGR (10 years) is 8.3%. Hmm - is he really going to double that?

Analysts predicted a forward earnings CAGR (3 years) of 4.7% - they better go back to their drawing boards, can't have analysts being less optimistic than Jeff, can we?

But then - I noticed he was talking just about an "ambition" to double the earnings (not a forecast), wasn't he? and even better - wasn't this doubling meant for the underlying earnings?

Looks like Jeff has left himself plenty of escape routes to keep satisfying his ambition ...

[percy]

Yeah, I noticed this "doubling of the profits in 5 years" as well - Jeff clearly seems to be much more optimistic than the usual analysts. Jeesh - this would be a CAGR of 15%!

Just to compare:

HGH's backwards earnings CAGR (10 years) is 8.3%. Hmm - is he really going to double that?

Analysts predicted a forward earnings CAGR (3 years) of 4.7% - they better go back to their drawing boards, can't have analysts being less optimistic than Jeff, can we?

But then - I noticed he was talking just about an "ambition" to double the earnings (not a forecast), wasn't he? and even better - wasn't this doubling meant for the underlying earnings?

Looks like Jeff has left himself plenty of escape routes to keep satisfying his ambition ...

I well remember when HGH's ROE was 3% and Jeff stated he wanted to triple it .
Sounded like pie in the sky at the time.
Well he delivered.
Has a history of doing what he said he would do.

[winner69]

Shame the media don’t understand underlying / normalisation / jigggery pokery …unlike punters

Heartland profit stalls as margins shrink, lending slows

https://www.rnz.co.nz/news/business/...30+August+2023

[mike2020]

Shame the media don’t understand underlying / normalisation / jigggery pokery …unlike punters

Heartland profit stalls as margins shrink, lending slows

https://www.rnz.co.nz/news/business/...30+August+2023

"In this environment, Heartland's asset quality has performed within expectations. Heartland has worked hard to support its customers, particularly those facing temporary difficulties due to the current economic environment," the company said in a presentation.

Going for the tittle 'Least hated bank" maybe?

[winner69]

"In this environment, Heartland's asset quality has performed within expectations. Heartland has worked hard to support its customers, particularly those facing temporary difficulties due to the current economic environment," the company said in a presentation.

Going for the tittle 'Least hated bank" maybe?

I note they were a lender to the now defunct Wishbone. ….some outfits need more than just support from their banks eh

[Ggcc]

Shame the media don’t understand underlying / normalisation / jigggery pokery …unlike punters

Heartland profit stalls as margins shrink, lending slows

https://www.rnz.co.nz/news/business/...30+August+2023

It’s a difference from the media indicating banks are ripping kiwis off with excessive profits

[Snoopy]

"In this environment, Heartland's asset quality has performed within expectations. Heartland has worked hard to support its customers, particularly those facing temporary difficulties due to the current economic environment," the company said in a presentation.

Going for the tittle 'Least hated bank" maybe?

I well remember when HGH's ROE was 3% and Jeff stated he wanted to triple it .
Sounded like pie in the sky at the time.
Well he delivered.
Has a history of doing what he said he would do.

I note they were a lender to the now defunct Wishbone. ….some outfits need more than just support from their banks eh

Some of you guys are making this shareholder squirm a bit. Only Percy is sticking to the faith.

I am sure I remember my old dad telling me when I was just a pup that if you take a chicken wishbone, then dry it out, make a wish then 'break the bone' with a friend (with each of you holding one end), then whoever keeps hold of the apex of the bone when it snaps - then their wish will come true. Provided that is, you do not tell anyone what your individual wish was until after the exercise is over.

If Wishbone is now defunct, this puts a dent in that legend. Actually I did read that Saturday Post article from a couple of weeks back. It said Wishbone wasn't dead, - just 'resting' under a receivership blanket. Waiting for a white knight to give her a kiss and wake her up again. Well I still believe in dreams. And with Jeff as the fairy godfather, how can this not come true?

It is true I did jest as the milk price fell of a cliff that Jeff would be onto it, and would serve up milk shakes at the AGM, in solidarity with his sharemilker customers. But now some of you seem to be suggesting that Jeff will be serving up pork pies as well. Really? I mean this is Jeff we are talking about here. The last time I quizzed him about risk he had that broad contemplative smile and said 'everything was in harmoney' or words to that effect. My advice to shareholders is to take their own sandwiches to the AGM. Don't rely on being served a pork pie!

SNOOPY

[mike2020]

Some of you guys are making this shareholder squirm a bit. Only Percy is sticking to the faith.

I am sure I remember my old dad telling me when I was just a pup that if you take a chicken wishbone, then dry it out, make a wish then 'break the bone' with a friend (with each of you holding one end), then whoever keeps hold of the apex of the bone when it snaps - then their wish will come true. Provided that is, you do not tell anyone what your individual wish was until after the exercise is over.

If Wishbone is now defunct, this puts a dent in that legend. Actually I did read that Saturday Post article from a couple of weeks back. It said Wishbone wasn't dead, - just 'resting' under a receivership blanket. Waiting for a white knight to give her a kiss and wake her up again. Well I still believe in dreams. And with Jeff as the fairy godfather, how can this not come true?

It is true I did jest as the milk price fell of a cliff that Jeff would be onto it, and would serve up milk shakes at the AGM, in solidarity with his sharemilker customers. But now some of you seem to be suggesting that Jeff will be serving up pork pies as well. Really? I mean this is Jeff we are talking about here. The last time I quizzed him about risk he had that broad contemplative smile and said 'everything was in harmoney' or words to that effect. My advice to shareholders is to take their own sandwiches to the AGM. Don't rely on being served a pork pie!

SNOOPY

I don't see pork pies, I just see good press. People are tired of the banks creaming it. Heartland is working with the people.

[DavidB]

Shame the media don’t understand underlying / normalisation / jigggery pokery …unlike punters

Heartland profit stalls as margins shrink, lending slows

https://www.rnz.co.nz/news/business/...30+August+2023

Interesting to contrast RNZ's article with the Business Desk's article on the same topic.

Heartland focused on securing Australian licence

Heartland Group Holdings is focused on securing its Australian licence to be an authorised deposit-taking institution as it draws tantalising close to the $100 million profitability mark.

So who sets the correct tone about Heartland and what the future for it will be?? RNZ or Business Desk? A general news media site or the specialist business media one?

By the way, isn't RNZ known to be somewhat more Left than Chairman Mao? I don't know as I never access it.


https://businessdesk.co.nz/article/f...ralian-licence





The article may be behind their paywall.