HGH - Heartland Group Holdings

**winner69** · 20-09-2020, 05:43 PM

These are %age exposures

Tourism etc -
Heartland’s total exposure to the retail, accommodation and transport (excluding road freight transport) industries at 30 June 2020, based on borrower ANZSIC codes, was 2.84%, 2.17% and 1.15% respectively.

Young people - At 10 August 2020, Heartland’s exposure to customers in this age bracket is 2.9% in Motor, 0.7% in personal lending and 0.9% in Harmoney.

**percy** · 20-09-2020, 05:57 PM

Originally Posted by winner69

These are %age exposures

Tourism etc -
Heartland’s total exposure to the retail, accommodation and transport (excluding road freight transport) industries at 30 June 2020, based on borrower ANZSIC codes, was 2.84%, 2.17% and 1.15% respectively.

Young people - At 10 August 2020, Heartland’s exposure to customers in this age bracket is 2.9% in Motor, 0.7% in personal lending and 0.9% in Harmoney.

Well which banks do have the problems.? ANZ,ASB,CoOP SBS,TSB,Westpac.Surely not your mate at Kiwi Bank.
I would think the bank, or banks that financed the fit outs in Anthony Gough's The Strip in ChCh would appear to have a problem/problems.And that is not even thinking about the problems in Queenstown , Wanaka,Tekapo,Blenheim,Picton,Timaru,Oamaru,TeAnau ,Westport,Greymouth or Dunedin.

**Beagle** · 20-09-2020, 06:18 PM

It was good to see HGH's rural lending down 10% in their report. Unwinding of their low margin lending in this very cyclical sector makes good sense when the dairy payout is over $7.

**winner69** · 20-09-2020, 08:05 PM

Hey beagle ...naughty of you to do comparisons against the big Aussie 4

Jeff says they are now fintech ...the advertising campaign of being a bank is over, it’s done it’s job.

You know do a relativity exercise against other finance stocks ...and not Aussie banks.

You might even get a fair value of $3 plus.

Look forward to it.

**Beagle** · 20-09-2020, 08:30 PM

LOL - I'd prefer to stick to my standard comparison which throws up some interesting numbers. Crickey some of them got smacked around the chops with Covid !!
Anyway off market screener forward FY21 PE's are as follows:-
BEN 11.6
BOQ 14.6
WBC 12
NAB 12.4
ANZ 11.6
CBA 15.7
Average 12.98

No wonder the board is upset that HGH is priced so low on a forward PE of just 8.75 and seem sure it doesn't reflect fair value, (normally a sign for me to run for the hills) but in this case I think they have a fair point.

12.98 on a forecast 14.5 cents suggests a fair price now is $1.88 !!

Crickey....it might be worth getting a few more

**winner69** · 20-09-2020, 08:35 PM

But beagle ...didn’t you read this bit

Heartland has transitioned through a number of strategic phases to establish itself as a digitally-led financial services group, ‘a financial technology company(fintech) with a bank licence’.

Digital was mentioned 23 times in its AR

**Beagle** · 20-09-2020, 08:59 PM

Originally Posted by winner69

But beagle ...didn’t you read this bit

Heartland has transitioned through a number of strategic phases to establish itself as a digitally-led financial services group, ‘a financial technology company(fintech) with a bank licence’.

Digital was mentioned 23 times in its AR

Did they mention it in Te Reo as well

They can call it whatever they like...this is all I have to say about that
https://www.bing.com/videos/search?q...tail&FORM=VIRE

Seriously though I get it that they're trying to move everything to digital but so are all the other banks so I see this claim as not much more than window dressing.