Business
Here’s the ASX bank share rated as a conviction buy // Motley Fool Australia
With the worst now seemingly behind the banks, one leading broker believes that investors will be shifting their focus to dividend yields again.
According to a note out of Goldman Sachs, its analysts believe dividend yields will be one of the key drivers of the next leg of sector performance.
Goldman commented: “We believe the next leg of sector performance will rely on i) a recovery in sector earnings, with the peak in bad debts appearing to have occurred in FY20, ii) the expiry of APRA’s 50% payout ceiling at the end of CY20, and iii) the continued re-rating of the sector’s yield in light of low interest rates.”
Based on its current forecasts, the broker estimates that the sector is currently trading on an attractive 6%…
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