HGH - Heartland Group Holdings

[Beagle]

The offer is conditional on DD (ie the court case) unlike Turners which is unconditional. Basically they have floated a high offer out there to stop holders taking Turners offer, knowing they can reduce the offer if the court case is unfavorable. If they didn't do this, Turners would get a blocking holding and it would be all over.

Fair enough but the board of MTF appear to dislike both offers
http://www.sharechat.co.nz/article/e...-uncertainhtml

[Harvey Specter]

Fair enough but the board of MTF appear to dislike both offers

Of course they dislike - if Heartland gets 100%, they lose their job. So in the extremely rare event that a board does support a takeover, it is unlikely it will be for an offer with conditions which they know will likely reduce the price (due to the court action).

[Harvey Specter]

Fair enough but the board of MTF appear to dislike both offers

Of course they dislike - if Heartland gets 100%, they lose their job. So in the extremely rare event that a board does support a takeover, it is unlikely it will be for an offer with conditions which they know will likely reduce the price (due to the court action).

[sb9]

Today's sp of $1.19 is very pleasing, for those of us who took the DRP shares at $1.11.

Couldn't agree more, happy the price was low at the time of DRP period.

[RTM]

http://www.heartland.co.nz/news/231/...land-bank.aspx

Amazing...didn't they check with Roger ?

[Bjauck]

https://www.nzx.com/companies/HNZ/announcements/271848
Fitch affirms Heartland's credit rating. Stable outlook. It gave Heartland a vote of confidence with this statement: “core asset quality to remain sound, benefiting from continued improvement in underwriting standards and good economic conditions”.

[Beagle]

http://www.heartland.co.nz/news/231/...land-bank.aspx

Amazing...didn't they check with Roger ?

HNZ are very fortunate that GDT auction prices have rebounded very substantially since I expressed my view. They got lucky.

[RGR367]

HNZ are very fortunate that GDT auction prices have rebounded very substantially since I expressed my view. They got lucky. Sarcasm is the lowest form of wit.

Next time we'll notice is that Roger has once again "well positioned" re his stand about this stock. How soon will that be Roger

[Beagle]

Next time we'll notice is that Roger has once again "well positioned" re his stand about this stock. How soon will that be Roger

We saw a substantial increase in doubtful debt provisioning for consumer loans in the most recent financial result and by my reckoning there should have been a commensurate increase in provisioning for dairy loans based on known financial information and heavily stressed loans at that time. I guess they couldn't do that otherwise they wouldn't get their nice juicy bonus's for the year ?
Relying on luck to get you out of potential trouble is not a prudent way to run a bank in my opinion and I remain unconvinced about some of their new consumer loan initiatives.

With a lack of feasible takeover opportunities I'm concerned these extremely well paid senior managers are not really adding a lot of value. HER acquisition didn't really add a lot of value did it. I predict the MTF fiasco will drag on for quite a considerable time.

The internal controls in the Harmoney system have yet to prove themselves up so could we see further significant provisioning on loans through this "unproven" channel ?
Was the head of new product development pushed or did he jump before the custard hits the fan in this regard ?

I'm not convinced they're all that well positioned.

[percy]

Some take-out from Fitch's report.
"The stable outlook reflects our view that HBL [Heartland Bank Limited] is likely to continue its solid performance over the next 12 to 24 months."
High household leverage and NZ high property prices."The impact for HBL is limited as its residential mortgage exposure is insignificant."
Dairying."HBL conducted stress tests to assess the impact of prolonged low dairy prices,which were found to be manageable as of August 2015"
"The bank benefits from a more balanced asset-liability-maturity profile relative to domestic peers as HBL's lending products typically have a shorter term maturity."
"HBL's capital position benefits from strong profitability and sound levels of retained earnings."
I guess the only surprise to me ,was after reading such glowing commentary, Fitch's did not upgrade HNZ's credit rating.!!! lol.