Suncorp IMO has a perfect business model with cross selling in banking and insurance. However the last 2 years has not been good for Suncorp, keeping in mind most of there business is in QLD (before the PMN merger at least)and the QLD economy has been booming SUN EFY 05 SP was $20.11 EFY 06 SP $19.40 and today $19.35 (4% less)
Yes a lot of funds have been flowing into resource stocks, but give me a break SUN is worth more today than it was on 30th June 2005 surely.
just a comparison SGB EFY 05 26.20 today 34.50 (31% gain) and NAB EFY 05 30.76 and today 38.36 (24% gain)
Divys are similar for all stocks
A QLD bankassurance co surely should be kicking ass with profits given the economic conditions.
come on SUN what is going on????
Yes the PMN merger sucked funds and diluted the SP but not that much.
This stock is a screaming buy before reporting EFY position IMO
SUN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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