AUSTRALIA & NEW ZEALAND BANKING GROUP (ANZ)
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ANZ - AUSTRALIA & NEW ZEALAND BANKING GROUP

FNArena Sector : Banks
Year End: September
GICS Industry Group : Banks
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

ANZ Bank is a multinational banking and financial services company. It is the second largest bank by assets and fourth largest bank by market capitalisation in Australia. It has been a listed company since Sept 1969.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$22.64

30 Nov
2020

-0.450

OPEN

$23.03

-1.95%

HIGH

$23.30

15,114,077

LOW

$22.60

TARGET
$23.25 2.7% upside
Franking for last dividend paid out: 100%
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MARKET CONSENSUS FORECAST
ANZ: 1
Title FY19
Actual
FY20
Actual
FY21
Forecast
FY22
Forecast
EPS (cps) xxx 132.7 160.7 xxx
DPS (cps) xxx 60.0 91.1 xxx
EPS Growth xxx - 36.8% 21.1% xxx
DPS Growth xxx - 62.5% 51.9% xxx
PE Ratio xxx N/A 14.2 xxx
Dividend Yield xxx N/A 4.0% xxx
Div Pay Ratio(%) xxx 45.2% 56.7% xxx

Dividend yield today if purchased 3 years ago: 2.10%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.62

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 09/11 - 35c (100%)

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.9

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Morgans

30/10/2020

1

Add

$22.50

-0.62%

ANZ Bank has reported FY20 cash earnings (from continuing operations) of $3,758m, which is 7% better than Morgans expected. The beat was largely the result of the credit impairment charge and operating expenses being better than expected, explains the broker.

FY20 statutory profit (NPAT) is 3% better than Morgans expected, while the final dividend of 35 cents fully franked is a touch better than the analyst expected.

Morgans takes heart from three factors in this result for the outlook for expected credit loss (ECL) provisions.

Firstly, the bank has positively revised the unemployment rate and house price assumptions feeding into its ECL provisions.

Secondly, the bank has positively revised its credit risk weighted asset (CRWA) inflation guidance pertaining to credit portfolio migration.

Finally, the downtrend in loan deferrals has pleasingly continued, notes the broker.

Morgans is still not too concerned by the net interest margin (NIM) outlook and finds more ongoing tailwinds than headwinds for the measurement.

The Add rating is maintained. The target price is increased to $22.50 from $21.

FORECAST
Morgans forecasts a full year FY21 dividend of 98.00 cents and EPS of 196.00 cents.
Morgans forecasts a full year FY22 dividend of 151.00 cents and EPS of 215.00 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Credit Suisse

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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ANZ STOCK CHART