Latest Forum Topics / OCBC Bank Last:14.89 -0.03 | Post Reply |
What is the magic in OCBC rising price?
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krisluke
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30-Apr-2013 12:52
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Prices are attempting to clear resistance at $10.80. If this is successful, a measuring objective of $11.70 is indicated. Prices have been on a steady uptrend since breaking above $9.80 in March. Quarterly momentum appears poised to move out of a sideways range. If this materialises, it will support the next phase of the upmove. RSI is near the high end of its range, but there are no signs of a downturn. Price support is raised to $10.80, below which the upside target is no longer valid.
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krisluke
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30-Apr-2013 11:26
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OCBC profit beats estimates as fees offset shrinking marginOversea-Chinese Banking Corp.’s profit fell less than analysts estimated last quarter as an increase in fees and commissions outweighed narrowing net interest margins at Southeast Asia’s second-largest lender. Net income declined 16% from a year earlier to $696 million, the Singapore-based bank said in a statement today. That exceeded the $640 million average of four analysts’ estimates compiled by Bloomberg. Fee-generating businesses and profit growth from countries such as Malaysia and Indonesia helped Chief Executive Officer Samuel Tsien deliver better-than-estimated results as he grapples with Singapore’s slowing economy, diminished demand for borrowing and shrinking loan profitability. The bank’s net interest margin narrowed, while provisions for bad debts fell. “Fees and commissions were driven by wealth management, and we expect this segment to continue to be strong this year,” said Ken Ang, an analyst at Phillip Securities Pte. “The magnitude of the decrease in net interest margin was quite significant.” The stock rose 0.1% to $10.93 as of 9:03 a.m. in Singapore trading. The shares have climbed 12% this year, compared with a 6.6% gain for the benchmark Straits Times Index. HIGHER FEES OCBC’s net fees and commissions climbed 15% in the quarter to $316 million on the back of higher wealth and fund management income and loan-related fees. Non-interest income, excluding a $56 million gain booked in the first quarter of last year, dropped 14% to $676 million, led by declines in trading income and profit from life assurance. Great Eastern Holdings, the lender’s insurance unit, said last week that first-quarter profit decreased 21% from a year earlier to $207.5 million. Singapore’s banks have the lowest net interest margin in Southeast Asia at 1.94%, according to the latest data compiled by Bloomberg. OCBC’s net interest margin contracted to 1.64% in the quarter from 1.86% a year earlier, owing to Singapore’s low interest-rate environment and a “re- pricing” of existing housing loans, the bank said. Net interest income, the difference between what the bank makes from lending and pays on deposits, declined 4% to $912 million as growth in loans was overshadowed by the declining lending margins. LOAN GROWTH OCBC’S loan book grew 10% to $149 billion. Loan growth in Singapore during the first two months of the year averaged 19%, cooling from 27% a year earlier, according to data compiled by Bloomberg. March loan data aren’t yet available from the Monetary Authority of Singapore. The bank set aside $21 million as provisions for loans and other losses, a 79% decrease from a year earlier. Its core equity Tier 1 capital adequacy ratio was 16.2%. “Business momentum is strong, and asset quality remains sound,” Tsien said in the statement. “We will devote additional resources to strengthen the group’s regional franchise to tap on the higher economic growth potential in our key overseas markets.” Singapore’s gross domestic product shrank an annualized 1.4% in the three months through March 31 from the previous quarter, when it rose 3.3%, the Trade Ministry said on April 12. |
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krisluke
Supreme |
30-Apr-2013 10:31
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Oversea-Chinese Banking Corp, Singapore’s second-biggest lender, posted a 16% fall in first quarter profit, hurt by lower contributions from its insurance unit and weak interest rate margins. OCBC earned $696 million in the three months ended March, compared with $832 million a year earlier. Its profit was above the $656 million average forecast of eight analysts polled by Reuters. Business momentum is strong and asset quality remains sound, Chief Executive Officer Samuel Tsien said in a statement. Tsien, who took the top post a year ago after the retirement of David Conner, has said in the past that OCBC is looking to put more resources into Greater China and Indonesia. The bank earned 60% of its profit before tax from Singapore and 25% from Malaysia in the first quarter. Shares of OCBC are up about 12.2% so far this year, outperforming rises of about 10% by bigger rival DBS Group Holdings and nearly 8% by United Overseas Bank . DBS and UOB will announce first quarter results on May 2. |
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golfgila
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26-Apr-2013 12:11
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Lousy Stock??   OCBC just hit 11.00. May go to 11.03 just before xd on 29.4.13.  |
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Listing
Senior |
21-Mar-2013 20:08
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My original cost was around $5 after their last bonus issue ages ago... Afterwhich it rose back to the $9 level then kept bouncing back and forth above $10 and below $10. One of my friends play Ocbc this way above $10 he sells wait for it to be below $10 then he buys back as well as load up slowly and repeat pattern when it goes beyond $10. Stock not that lousy as there seems to be a pattern.
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CapitalVia
Member |
21-Mar-2013 19:09
Yells: "FREE Trading Tips : t.co/6rspdLFgjT" |
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need to go for gold..or wan recommendations |
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masterlim
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10-Nov-2010 20:08
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lousy stock |
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williameng
Member |
10-Nov-2010 19:27
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I would rule out the merger rumour, at least not at the moment. The real magic, I think, lies in its change of management philosophy in becoming more aggressive in its banking business directions. Is it still looking up for more viable acquisitions in the region? May be! As its slogan goes: "as solid as a rock" and mind you this 'rock' is growing bigger! Hope to see its price testing the $10 mark, if the same market sentiment persists. |
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