If you noticed that NAB did dilution of the holders at $14 per shares and then started buying on market for $28 instead of buy-back similar to CBA. Now 100% profit on stock went mostly to Insto as those who buys bank shares as retirement bond (
) aren't selling no matter what the price is because we prefer on going dividend income then one off capital gain... IMO.
Based on last buy back notice which was end of March the Bank bought on market around $31 per shares which is absolute bonker after taking $14 per shares from insto in my opinion. through out six month NAB pumped their stock by on market buy-back and stopper just a month before results so it is highly unlikely people will start selling before dividend announcement.
even in their second round of buy-back announcement they are not doing what CBA & WBC did for buy back but instead wanted to do on market buy-back which will simply push prices up and executives look good nothing else in my opinion.
current CEO & chairman should be removed by complete waste of capital in my opinion. however, traders probably prefer this management who issue shares at $14 and then buy-back at $31 .. !!
(20min delay)