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3 BIG Spore banks ....:))
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Interest rate cut is a 2 edged sword .... how our banks perform will depend on how well it is managed .....DBS doing it very well
MORE so , today 15.7% exports jump for July is more important to banks ......economy growth power are its banks fundamental fuel .
DBS OCBC and UOB all climbed over 1.2% as of now ......can you imagine if growth is kept for the next few mths ?
Sunday speech may offer more insight into Spore gorwth plan. Good honest government equal to a good and prosperous Singapore.
DYODD .......Happy investing.
Not apple to apple comparison la the other 2 is paying 50% of their total dividens ( 3% share price ) whereas DBS is paying 25% of their total dividens ( 1.5% share price ) .
But I not complaining , though .
FATABA ( Date: 15-Aug-2024 09:30) Posted:
DBS again show it is the big bro in banking ....while the other 2 dropped xd , DBS is managing well .
Certainly Q3 more or less in pocket ( any rate cut will come after Q3 for DBS by the time it has to implement LOL ) ......wil it b hard to see how $12B profit 2024
can b a possibility. ( 1H 2024 is $5.74B ) DYODD
happy investing .
FATABA ( Date: 14-Aug-2024 12:49) Posted:
I actually do not wish to debate on the change in Interest rate as IF it is affecting bank income.
Today NII is really not many of the banks main income or at least other sector are growing more .....like wealth mgt ( as pointed out )
DBS AUM is $365B ......DBS Private baks onboarded more than a third of the 1000 single family Offices set up in Singapore ......as of 26th Mar 2024
Under new CEO ( she was from this field ) what wld be this AUM ? your guess is as good as mine.
But we can be assure of its contribution to DBS bottom line.
2024 will subpast the $10b mark ....question is will it hit $12B as a farewell gift from Current CEO .( a good success FT hurt ....many do not like this for their
own personal interest ....BUT proven again and again , this little red dot need them .....OCBC is another example )
So I can only say that 2024 , DBS will be the best performing local bank here . Be prepare for special dividend or bonus .
Happy investing. |
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DBS again show it is the big bro in banking ....while the other 2 dropped xd , DBS is managing well .
Certainly Q3 more or less in pocket ( any rate cut will come after Q3 for DBS by the time it has to implement LOL ) ......wil it b hard to see how $12B profit 2024
can b a possibility. ( 1H 2024 is $5.74B ) DYODD
happy investing .
FATABA ( Date: 14-Aug-2024 12:49) Posted:
I actually do not wish to debate on the change in Interest rate as IF it is affecting bank income.
Today NII is really not many of the banks main income or at least other sector are growing more .....like wealth mgt ( as pointed out )
DBS AUM is $365B ......DBS Private baks onboarded more than a third of the 1000 single family Offices set up in Singapore ......as of 26th Mar 2024
Under new CEO ( she was from this field ) what wld be this AUM ? your guess is as good as mine.
But we can be assure of its contribution to DBS bottom line.
2024 will subpast the $10b mark ....question is will it hit $12B as a farewell gift from Current CEO .( a good success FT hurt ....many do not like this for their
own personal interest ....BUT proven again and again , this little red dot need them .....OCBC is another example )
So I can only say that 2024 , DBS will be the best performing local bank here . Be prepare for special dividend or bonus .
Happy investing.
Delvyss ( Date: 14-Aug-2024 10:51) Posted:
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Agree on this. A special dividend or bonus will certainly be the most rewarding for true-blue DBS investors. Also something timely and worth remembering for the outgoing CEO and new incumbent.
Happy investing :)
FATABA ( Date: 14-Aug-2024 12:49) Posted:
I actually do not wish to debate on the change in Interest rate as IF it is affecting bank income.
Today NII is really not many of the banks main income or at least other sector are growing more .....like wealth mgt ( as pointed out )
DBS AUM is $365B ......DBS Private baks onboarded more than a third of the 1000 single family Offices set up in Singapore ......as of 26th Mar 2024
Under new CEO ( she was from this field ) what wld be this AUM ? your guess is as good as mine.
But we can be assure of its contribution to DBS bottom line.
2024 will subpast the $10b mark ....question is will it hit $12B as a farewell gift from Current CEO .( a good success FT hurt ....many do not like this for their
own personal interest ....BUT proven again and again , this little red dot need them .....OCBC is another example )
So I can only say that 2024 , DBS will be the best performing local bank here . Be prepare for special dividend or bonus .
Happy investing.
Delvyss ( Date: 14-Aug-2024 10:51) Posted:
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I actually do not wish to debate on the change in Interest rate as IF it is affecting bank income.
Today NII is really not many of the banks main income or at least other sector are growing more .....like wealth mgt ( as pointed out )
DBS AUM is $365B ......DBS Private baks onboarded more than a third of the 1000 single family Offices set up in Singapore ......as of 26th Mar 2024
Under new CEO ( she was from this field ) what wld be this AUM ? your guess is as good as mine.
But we can be assure of its contribution to DBS bottom line.
2024 will subpast the $10b mark ....question is will it hit $12B as a farewell gift from Current CEO .( a good success FT hurt ....many do not like this for their
own personal interest ....BUT proven again and again , this little red dot need them .....OCBC is another example )
So I can only say that 2024 , DBS will be the best performing local bank here . Be prepare for special dividend or bonus .
Happy investing.
Delvyss ( Date: 14-Aug-2024 10:51) Posted:
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Good report frm MQ.. tp of $41
DBS &ndash strong quarter, steady dividends&hellip new CEO
DBS shares have moved 4.4% higher since 6 August &ndash the eve of its earnings results to its close at $34.12 yesterday. The stock appears to be riding on positive momentum since its better-than-expected results on 7 August and news of a new CEO.
What impact do these recent announcements, along with expectations of a September rate cut, have on DBS&rsquo share price?
Here from Macquarie Research (MQ), who published a report on 7 August 2024 addressing these three points.
Key points
&bull DBS' 2Q24 earnings were ahead of consensus by around 5%. Guidance for the credit charge was upgraded, with a lower net interest margin sensitivity to rates provided.
&bull CEO Piyush Gupta will be succeeded by Su Shan Tan in Mar-25. Tan is DBS' Group Executive, Institutional, and previously led Wealth and Consumer.
&bull MQ has raised DBS&rsquo 2024 earnings per share to 4.6% and is reiterating their Outperform rating and S$41 target price on DBS. DBS is their top pick in the sector.
Solid core results. Highlights were sustaining the high level of wealth fees, a consistent 2.14% net interest margins, and better-than expected asset quality. MQ now expects DBS to grow total FY24 profit after tax and minority interests (PATMI) by around 10%. Under a 1% US Fed rate scenario from this quarter to mid-2025, factoring in hedges and a normalisation in the credit charge to 20 basis points, MQ expects PATMI to be stable (around 2% lower).
New CEO announced. Su Shan Tan was appointed deputy CEO and will take over as group CEO in Mar-2025. DBS' outgoing CEO, Piyush Gupta, is very well regarded and led the turnaround of the bank over the past 15 years. MQ notes that Tan Su Shan has been at DBS for 14 years and has broad experience and strong institutional knowledge of the business. Tan Su Shan outlined her vision based on " 4-Cs" : Culture, Customers, Collaboration and Continuity. MQ believes investors will focus most on the continuity aspect in the short term.
Earnings changes: MQ is raising their 2024 and 2025 earnings per share to 4.6% and 1.8% respectively to reflect higher wealth fees and a lower credit charge (2024).
Valuation: MQ has an Outperform rating and 12-month target price of S$41.00, based on a Price-to-Book methodology.
Catalysts: CEO change in Mar-25 and further updates on strategy thereafter.
Investment thesis and recommendation
DBS is the most profitable and, MQ believes, the highest quality Singapore bank. Although MQ expects the rate cycle to turn in 2024 (4Q2024 Fed rate cut of 0.25%), higher asset quality and a recovery in fee income are positives. DBS is in the top 5% in MQ&rsquo s quant model.
Another chance to get DBS at sub-34 (if inclusive of the 54c dividend).
Looks like UOB gunning for $30
Tmr is xd 54c , see how it perform against XD . So far highest is 34.55 done this morning ( small volume )
Dyodd
DBS next milestone may probably let us see the $50 mark earlier than most of us can imagine.
https://sg.finance.yahoo.com/news/dbs-aiming-500-billion-wealth-054343464.htmlprophetjul ( Date: 12-Aug-2024 11:46) Posted:
i aint greedy. $50 is just fine by me. LOL
Delvyss ( Date: 12-Aug-2024 11:18) Posted:
Very interesting indeed 
Would be more than contented if sits at anything between $53.64 and $74.21 |
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i aint greedy. $50 is just fine by me. LOL
Delvyss ( Date: 12-Aug-2024 11:18) Posted:
Very interesting indeed
Would be more than contented if sits at anything between $53.64 and $74.21.
aragosta ( Date: 12-Aug-2024 11:10) Posted:
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Very interesting indeed
Would be more than contented if sits at anything between $53.64 and $74.21.
aragosta ( Date: 12-Aug-2024 11:10) Posted:
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Very interesting, the guy has DBS intrinsic value, as, quoted:
" As of 2024-08-12, the Fair Value of DBS Group Holdings Ltd (D05.SI) is 53.64 SGD"
And SWS has it as $74.21
https://simplywall.st/stocks/sg/banks/sgx-d05/dbs-group-holdings-shares/valuation
Surely, they not going to lose their credibility by anyhow quote !?!?
Delvyss ( Date: 12-Aug-2024 08:51) Posted:
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" As of 2024-08-12, the Intrinsic Value of Oversea-Chinese Banking Corporation Ltd (O39.SI) is 19.1 SGD."
https://valueinvesting.io/O39.SI/valuation/intrinsic-value
It is as you say. A similar approach is how Buffett looks at listed shares of good companies and why buying such listed shares is better than buying shares in private companies. His perspective is that the additional benefit in buying listed shares is that, in addition to owning a share in a company, you are also effectively given an option instrument. If the share price stays below the value you think the company is worth then you just hold the share and get your proportionate reward in holding the company (dividends). However if the share price moves above such value then you can sell the share at a supernormal profit and do something with the proceeds (like waiting for a time when the share price is lower and you can buy back in). Hence volatility in share price is your friend because it provides an optionality to make more money.
mav1ryan ( Date: 08-Aug-2024 13:20) Posted:
| Actually I believe most of us buying Bank Stocks are for Long and dividends, so everyday up up down down is like watch a Taiwanese soap opera.. just to spice up our life a little bit to feel shiok or upset.. |
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Highest quality, most profitable, undemanding share price
FATABA ( Date: 08-Aug-2024 10:32) Posted:
MQ has an Outperform rating and S$41.00/share price target, based on a price to book methodology
MQ thinks the shares are attractive following the recent ~14% correction. MQ views the 1.4x 2024 price over book multiple as undemanding against an 18.8% return on equity. DBS is the highest quality and most profitable of the Singapore banks. |
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Below from Phillip
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Good Afternoon, investors! Check out our latest report below!
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DBS Group Holdings Ltd &ndash Fee income continues to support earnings
Recommendation: Buy (Upgraded), Last done: S$33.49, TP: S$38.50, Analyst: Glenn Thum
- 2Q24 adjusted PATMI of S$2.79bn was slightly above our estimates due to higher NII, fee income, and other non-interest income. 1H24 adjusted PATMI is 54% of our FY24e forecast. 2Q24 DPS raised 23% YoY to 54 cents.
- NII rose 5% YoY on loan growth of 2% YoY despite NIM dipping 2bps to 2.14%. Fee income rose 27% YoY from WM, cards and loan-related fees, while other non-interest income grew 6% YoY. DBS maintained its FY24e guidance of double-digit fee income growth (from wealth management and credit card fees) and credit cost of 17-20bps but increased its guidance for FY24e NII and PATMI to be above FY23 levels.
- Upgrade to BUY with an unchanged target price of S$38.50 as we account for recent share price performance. Our FY24e estimates remain unchanged. We assume a 1.83x FY24e P/BV and ROE estimate of 17.1% in our GGM valuation. We expect stable growth in NII from the continued fixed asset repricing and deployment of deposits into longer tenure income accretive interest earning assets, while loan growth to recover from rate cuts in 2H24. Double digit fee income growth will give a further boost to earnings.
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Actually I believe most of us buying Bank Stocks are for Long and dividends, so everyday up up down down is like watch a Taiwanese soap opera.. just to spice up our life a little bit to feel shiok or upset..
MQ has an Outperform rating and S$41.00/share price target, based on a price to book methodology
MQ thinks the shares are attractive following the recent ~14% correction. MQ views the 1.4x 2024 price over book multiple as undemanding against an 18.8% return on equity. DBS is the highest quality and most profitable of the Singapore banks.
