WBC is my biggest holding and I topped up yesterday before today's drop (damn, always goes down when I buy).
The only reason I can see for the banks dropping today is all the hot air being blown that when the housing bubble (if there is one) bursts that the banks will be caught with a lot of delinquent mortgages.
Considering the banks hold mortgage insurance on the riskier loans (less than 20% deposit) I think any bad debts that materialise will not overly affect a bank's profit. Also, in Australia our housing mortgages are recourse loans, which means the lender can chase personal assets and income as well as sell the property. My opinion is that few resident owners would default, although the risk is far greater with investor owned properties.
I think WBC is a strong buy for its dividends. It doesn't matter if the share price goes up or down, you still get around 9% including franking credits.
Cantankerous James (bah! why didn't I wait until today to buy?)
WBC - Buy, page-2
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Last
$25.98 |
Change
0.050(0.19%) |
Mkt cap ! $90.13B | |||
| Open | High | Low | Value | Volume |
| $26.15 | $26.15 | $25.92 | $217.5M | 8.367M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 134619 | $25.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.00 | 5957 | 3 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
$26.02 |
Change
0.050 ( 0.54 %) |
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| Open | High | Low | Volume | ||
| $26.09 | $26.10 | $25.92 | 1312413 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| WBC (ASX) Chart |