Previous close | 16.68 |
Open | 16.80 |
Bid | 16.75 x 0 |
Ask | 16.76 x 0 |
Day's range | 16.68 - 16.83 |
52-week range | 12.81 - 17.73 |
Volume | |
Avg. volume | 2,465,086 |
Market cap | 21.311B |
Beta (5Y monthly) | 0.73 |
PE ratio (TTM) | 18.41 |
EPS (TTM) | 0.91 |
Earnings date | 19 Aug 2024 |
Forward dividend & yield | 0.61 (3.66%) |
Ex-dividend date | 29 Feb 2024 |
1y target est | 17.32 |
Australia on Friday gave the go-ahead for ANZ Group's A$4.9 billion ($3.26 billion) buyout of Suncorp's banking business, clearing the deal to proceed after almost two years of scrutiny by financial regulators and treasury. Treasurer Jim Chalmers said the deal can proceed subject to enforceable conditions and had come after careful consideration, and consultation with treasury, regulators and the unions. "Following this lengthy and robust process, I received clear advice ... that it would not be in the national interest to prohibit this transaction," Chalmers said in a statement.
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Shares of Suncorp, which had gained a little more than 18% this year by last close, rose as much as 1.6% to A$16.615 as of 0033 GMT, hitting their highest since December 2007, while the broader market was up 0.5%. "The transaction continues the reshaping of the Suncorp Group, and positions both the general and life insurance businesses for ongoing growth and success," Suncorp CEO Steve Johnston said in a statement. Analysts at UBS said they believe the New Zealand life insurance unit, Asteron Life, was not core to the group and the divestment is "strategically attractive", allowing Suncorp to focus on its more attractive general insurance (GI) operations.