completely disagree - i think theyve quietly laid solid foundations for future prosperity. havent seen a broker that doesnt rate us above all other banks, in terms of current value.
lets re-asses. - Buy back - done, removed ~3% off the old register - will naturally allow improved eps - expenses - $5bn drop - practically done - divs - will easily revert to >90c per period, hoping for >$1 or $2 FF per year!!! (8.5% FF yield when that happens) - tech - as a St George etc, closing branches, white labelling products and allowing us to use ANY Westpac bank to transact = more branch shedding, greater flexibility for clients = better customer satisfaction + more cost savings for us.
mkts asleep at the wheel with this one, now we've finally shaken off the legacy witch hunt, my personal PT ~$30 is in sight.....interest rates will naturally raise nim and itll be payday with a smaller register and much leaner operating costs....
bring on the next reporting season....
WBC Price at posting:
$23.87 Sentiment: Buy Disclosure: Held
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