ANZ.ASX ANZ’s 3Q16 update – earnings trends looked a little soft with a pickup in NPAT growth required in 4Q16 to reach consensus forecasts.
Asset quality trends also looked a little disappointing. FY17 forecast EPS growth 2% which places the stock on a forward yield of 6%.
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From a technical perspective it’s worth noting the banks have now taken out the most recent highs of the long established down trend that has been in place since May 2015.
The next round of buy signals in the banks will be worth closer consideration.
