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Suncorp (SUN) $13.54

SUN -1.53%: Fell today despite announcing cash earnings of $1,254m in line with consensus, however, the composition of the result was soft and their guidance was a touch light, particularly within their banking division which had a tougher period, which is likely to continue. The 27c final dividend was also a long way below consensus (40c). Insurance earnings were strong, at $755m and above $687m expected, however, guidance was less upbeat than current market expectations sit. Within the banking division, net interest margins (NIMs) were 1.96% while they’ve guided to the bottom end of the 1.85-1.95% range for FY24 as costs increase.

  • A mixed result from SUN, okay from insurance, soft from the bank
MM is neutral SUN ~$13.50
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Suncorp (SUN)
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