St. George Bank

Westpac Banking Corporation (WBC) has a price target of $25.90 from Australian stock analyst UBS.

Westpac Banking Corporation (WBC) SGB MIA - "a growth agenda"

No surprises in the WBC/SGB Merger Implementation Agreement (MIA):

Macquarie Research Equities (MRE) highlighted some of the recent impacts experienced by the Australian Banking Sector.

Banking Sector – Westpac (WBC) Looks to Slay the Dragon

The Strain of rising interest rates, spiking inflationary pressure and low levels of consumer sentiment seemed to take its toll on the Aussie banks last week as they underperformed the market by 4.3%. Macquarie Research Equities (MRE) discusses the key highlights of the week and the implications for the sector. With the exclusivity period for the SGB merger ending, what’s next?

Australian Banking Sector Update provided by Australian stockmarket analyst Macquarie Research Equities.

Banking Sector Revisited

Here are the Macquarie Research Equities (MRE) highlights for some of the recent impacts experienced by the Australian Banking Sector.

Banking Sector – Westpac Banking (WBC) Looks to Slay the Dragon

Australian Banking Sector Update from sharemarket analyst Macquarie Research Equities.

Australian Banking Sector Update

Time to buy back the shorts

We are increasing our price targets on the banks by an average 5%:

Following a better than expected reporting season and clarity around environment and event risk, we are moving to increase our price targets across the bank sector. On average, our PT's have been increased by 5%.

Banks have been large under-performers YTD:

Here is an update on the Australian banking sector provided by Australian market analyst UBS.

Australian Banking Sector- Credit growth - is this the tipping point?

March credit growth: 0.8%: business 0.9%, personal -0.2%, housing 0.8%:

March system credit grew at 0.8%; driven by: (1) good headline growth in business lending 0.9%, although higher due to Feb revision down from 0.5% to 0.3%, (2) sharp slowing in personal credit growth - .2%, the second negative month this yr, (3) housing credit growth stable at 0.8%, with non-banks share continuing to slow.

St. George Bank (SGB) has a maintained Neutral 1 stock recommendation with a share price target of $32.10 from stock analyst UBS. Their price target is a combination of DCF, SOP and International peers. According to UBS, SGB is trading on 4.8x NTA ($6.73), compared with 3x NTA peer average. The stock analyst note the strong revenues but the quality of their accounting is an issue. Citigroup Investment Research (CIR) has maintained their Hold stock recommendation with their share price target lifted from $30 to $32.75 to reflect EPS upgrades.

Citigroup Investment Research have a Hold stock recommendation for St. George Bank (SGB) shares with a steady share price target of $30 (5 percent discount to CIR's thOR valuation). The stock analyst has observed that "SGB stock has suffered a modest de-rating in absolute and relative terms this year. While its operating performance is credible, the bank’s share price may de-rate further in the coming 12 months given continued economic difficulty in NSW and an anticipated modest share price performance by the sector more broadly.".