|Bid||28.85 x 0|
|Ask||28.88 x 0|
|Day's range||28.56 - 28.99|
|52-week range||28.32 - 35.30|
|PE ratio (TTM)||12.59|
|Earnings date||7 May 2018|
|Forward dividend & yield||2.69 (9.28%)|
|1y target est||33.52|
Broker says that AMP Limited (ASX:AMP) still represents long-term value but regulatory risks abound in the wake of the wealth. management group’s admissions to the banking Royal Commission last week.
The former Westpac financial planner criticised at the financial services royal commission says he's been made a scapegoat by the bank. Andrew Smith was named at the commission last week when Westpac executive and BT Finance national head Michael Wright gave evidence. Mr Wright told the inquiry he believed one of the reasons the planner gave inappropriate advice to numerous clients was to maintain his "level of remuneration".
A week of damaging revelations for Australia's biggest financial players at the banking royal commission will end with Westpac and ANZ having to defend bad advice given by their planners. After days of damning evidence about customers being charged fees for financial advice they never received, the royal commission has turned its focus to inappropriate advice. Westpac has already admitted a senior planner gave poor advice to a couple who wanted to use their superannuation to buy a property where they could live and run a bed and breakfast business, a strategy that was never a viable option for them.
Jacqueline and Hugh McDowall's retirement dream to buy a bed and breakfast business turned into a financial nightmare. Due to poor financial advice from a Westpac planner, the nurse and truck driver lost their family home pursuing a dream that was never going to become a reality. The McDowalls sold their Melbourne home, using the proceeds to clear the hefty mortgage and set up the SMSF.
Commonwealth Bank of Australia (ASX:CBA) shares are falling as its financial planning operations are under pressure.
Find out what shareholders will be looking out for when the Bank of Queensland Limited (ASX:BOQ) releases its results this week.
The financial sector has been under a cloud from the Royal Commission but Morgan Stanley believes there is one sector that could get a nice earnings boost from the negative publicity.
Reports that Westpac Banking Corp (ASX:WBC) will put loan applications under a microscope are likely to prompt analysts to relook at their earnings forecasts for the sector. Here's why...
The big banks are under pressure but Commonwealth Bank of Australia (ASX:CBA) is at risk of falling behind even more as US investors launch another class action against the bank.
The Australia and New Zealand Banking Group (ASX:ANZ) dividend could be poised to grow strongly over the next few years according to one leading broker...
Westpac chief executive Brian Hartzer says the bank had been sloppy rather than deliberately negligent in its checks on whether potential customers could repay their mortgages. "We have been a little sloppy on some of the record keeping but I think it is drawing a pretty long bow when you look at the actual performance and of credit quality of the banks over a long period of time to suggest that there is something fundamentally wrong," Mr Hartzer told a business summit in Sydney on Thursday. The banking royal commission has heard Westpac and the Commonwealth Bank had flawed processes for making sure home loan applicants were telling the truth about their income, expenses and debts.