External broker reports(aggregated public sources), Ord Minnett

Ord Minnett

Ord Minnett is a leading Australian wealth management group, incorporating full-service stockbroking, financial planning and funds management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>HUMM Group’s 1HFY25 result was highlighted by 6.1% growth in assets under management over the 6 mths, a good performance given the challenges in the SME and consumer sectors.</li><li>Net interest margins of 5.5% were broadly in-line, as were credit losses (which were ~1.8% on a rolling 12 mth basis).</li><li>With the stock trading on only 5.1x Cash EPS FY25, we retain our BUY rating with an unchanged target price of $0.90ps.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

HUMM Group’s 1HFY25 result was highlighted by 6.1% growth in assets under management over the 6 mths, a good performance given the challenges in the SME and consumer sectors.Net interest margins of 5.5% were broadly in-line, as were credit losses (which were ~1.8% on a rolling 12 mth basis).With the stock trading on only 5.1x Cash EPS FY25, we retain our BUY rating with an unchanged target price of $0.90ps.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Humm Group Limited - Resilience Is the Key