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Are 3 local banks enough to serve our increasing population? Will our government consider adding another 1 to make it 4? Like our 4th up and coming University.
Holding of banks share for long term seems to be 'a thing of the past'. Who could guarantee nothing would go wrong? Instead of adding 1 more, thing could change and make it remains 2? LOL, God knows.
Hello Guys, don't play into the big boy's hand. DBS' price is being worked down for one reason, and that's for the Big Boys to accumulate. As soon as the market picks up enough steam, they will dump again. By which time small frys like you and I will be the pathetic lot playing catch up and get caught with over-priced lots. At the present there is nothing wrong with the bank nor the management or the economic fundamentals. Infact, economics are good at home and abroad regionally. Only the US are in the dumps but that has really little impact on th value of DBS as a lender. It is cash rich and has Temasek's backing, it is solid as a rock.
Just play it cool and hold if you bought it high. Price will rise again, be patient.
In US market, the most short-sold stocks are index S&P500 (fell to lowest since Feb). as well as banks , insurers and brokerage firms are also among the heavily shorted stocks past days. This cld be reason for bank stocks so badly hit as well.
i'm seeing it as a stage of accumulation.
MACD showing a possible uptrend. 12.50 would be my next entry point if it drops further.
still dropping, hmmmm someting could be going wrong with DBS, be it still hv high vol of ppl buying up, hope for better px before nx Quater result, but the vol sell dwn is aso high, as push dwn px still going on since the result out !!!!
Although diff broker firms have their own's finding; but wats is the actual rumours being spread tat cause the massive selling for the past 4days????
Hi I am back for a short while and will be away again soon. Reading the postings regarding the two calls, I personally feel this way:
Between Phillips and Bloomberg, I trust the latter as they are more experienced in analysis and have a big name to it. So lets compare the two analysis of DBS and make our own decisions. TA wise, DBS is on the down path but should recover as it is hitting the mid pt of the high and low bands of Bollinger chart. So if general market turns bad caused by poor economics, then woe to shareholders as you can see it drag down further. But if the economies are viewed with encouragement, then DBS should try the upper price ranges, and go beyond $14.00 bucks.
So to buy or sell DBS you need to know where the economy is heading, north or south. So I think we should study how the US stocks are doing since they are on home grounds or more graphically the epicentre of global economic influences.
Usually, if people are losing, they will not sell (pride)...
But when they make a bit of money, they will quickly sell with (pride again)...
And go to Tung Lok... or Ah Yat... hehehe...
if u r wrong, only 1 way to go
sell with profit or with loss
i dun trust analysts' reports
If can n hv profit sell it, dun hold it for long, nobody can tell hw far will it be short dwn...................u see guys oni DBS is being played, why not OCBC n UOB ???? tink twice before buy in more................just my view oni, pls ignore if u dun agreed.................
Maintain
BUY
Previous Rating: BUY
S$12.84
Fair Value: S$14.65
Stock Code:
Reuters: DBSM.SI
ISIN Code: D05
Bloomberg: DBS SP
Event: Results
Better than expected 2Q09 results. DBS Group posted 2Q09 net earnings
of S$552m, down 15% YoY but +27% QoQ, and were above the median
estimate in a Bloomberg survey of S$425m. Net Interest Income improved
5.1% YoY or 3.3% QoQ to S$1112m in 2Q09. From the fee income side,
the best performers were its Stockbroking (+28%YoY and +79% QoQ),
Investment-related (+59% QoQ), Wealth Management (+31% QoQ) and
Fund Management (+20%QoQ) units. Cost-to-income ratio also improved
from 42.5% in 2Q08 to 38.4% in 1Q09 and then to a significantly lower
35.2% by 2Q09. Non Interest Income rose 22% YoY and 16% QoQ to
S$680m.
As expected, impairment charges remained high. This surged from
$90m in 2Q08 to $437m in 1Q09 and $466m by 2Q09 (OCBC of S$104m
and UOB of S$465m for 2Q09). Net Interest Margin (NIM) was better QoQ,
but down YoY. It improved from 1.99% in 1Q09 to 2.01% in 2Q09. The
group has declared a dividend of 14 cents for this quarter. For 1H09, the
group posted earnings of S$985m or 46% of our revised FY09 forecast.
Upping FY09 and FY10 estimates. With improving economic prospects,
we have revised our earnings estimates. While we expect impairment
charges to remain high, we believe that 1Q and 2Q were the peak quarters
and impairment charges should come off in 3Q and 4Q. We are projecting
lower charges of S$567m in 2H09 versus S$903m in 1H09. In addition,
with the rally in the equity market, we expect capital market activities and
fee-based income to improve and we have raised our estimates for 2H09.
Overall, we are increasing FY09 earnings from S$1572m to S$2128m. For
FY10, we have also upped our estimates from S$1965m to S$2401m.
Maintain BUY, raised fair value estimates to S$14.65. Together with
the improved economic outlook, although uncertainty still remains and
unemployment is still high in the US, valuations for the three local banking
stocks have also moved up higher. To reflect this trend, we are raising our
valuation peg from 1.2x to 1.4x book and this in turn raises our fair value
estimate from S$12.40 to S$14.65. At this price, valuation is 15.7x FY09
earnings and 13.9x FY10 earnings. Assuming that the group maintains its
14 cents per quarter dividend payout, annual yield is fairly decent at 4.4%
based on current price. We are maintaining our BUY rating on DBS
i bought very high la. At 13.88, 1 lot only
Anyway, i will hold this counter.
Littleboy ( Date: 12-Aug-2009 11:23) Posted:
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I strongly agree, I plan to buy more if its price dip further.
I will allocate 30% of my bullet in this stock.
niuyear ( Date: 12-Aug-2009 11:24) Posted:
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