Mystate is a dividend stock pure and simple with 100% dividend...

Mystate is a dividend stock pure and simple with 100% dividend stability. The share price is less than it should be at present and it deserves Bell Potter's current Strong Buy rating.

Yes, although it is now a bank there is very little difference from ADI it has always been.

If you are looking for a comparison to benchmark its performance against then I suggest you look at Auswide (previously Wide Bay Building Society). Here are a few key ratios taken from their 2015 Annual reports.

Net Interest Margin: MY 228 AUS 179
Cost to Income 64.3% 68.5%

Dividends, Payout Ratios and EPS are similar so with better fundamentals why is the Auswide share price currently 85 cents higher than Mystate? I believe it is the "Tasmania" factor. However, as everyone seems to be saying, this is now changing for the better. So it follows that sooner or later the Mystate share price should start to rise.

One of our commentators is sceptical of this happening as the company is writing mor broker loans but isn't it the role of directors to ensure that, if necessary, risk is being managed. Indeed, it is a Prudential Standard requirement.