ANZ is the only banking stock to shrug off the recent “Banking Crisis” to trade higher in 2023 albeit, by a minor +0.5%, the stock is forecast to declare an enticing 72c fully franked dividend in early May. ANZ still looks inexpensive in our opinion relative to its peers and when combined with its strong competitive position being more institutionally focused keeps it as one of our preferred sector plays.
- We are comfortable with our ANZ exposure but have no plans to increase our position.
MM remains long and bullish ANZ
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