Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

BHP Group Ltd (ASX: BHP)

The BHP Group share price is down almost 6% to $52.05. This reflects significant weakness in the resources sector on Friday. This may be due to demand concerns for copper and iron ore, as well as investors taking profit and rotating their funds into cheaper areas of the market. At the time of writing, the S&P/ASX 200 Resources index is down 4.3%.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 7% to $27.36. Investors have been selling Northern Star and other gold miners on Friday following a pullback in the gold price overnight. Traders have been selling the precious metal amid concerns that inflation could spike from higher energy costs. This could mean interest rates rise, which reduces the allure of the safe haven asset. In addition, the US dollar has been strengthening because of this, which has an inverse effect on the gold price. The S&P/ASX All Ordinaries Gold index is down by 5.2% in afternoon trade.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 18% to 98.5 cents. This has been driven by the non-bank lender's shares going ex-dividend this morning for its interim and special dividends. Last month, Resimac released its half-year results and declared a fully franked interim dividend of 4 cents per share and a 9 cents per share fully franked special dividend. Based on its last close price, this equates to a total dividend yield of over 11%. Eligible shareholders can look forward to receiving this dividend later this month on 24 March.

Tivan Ltd (ASX: TVN)

The Tivan share price is down 6% to 37 cents. This morning, this mineral exploration company announced the establishment of a community development initiative committing up to $1 million of funding over four years to support Indigenous communities in remote regions in Central Australia. While this is noble and undoubtedly a great thing for the community, last month, the company reported a net loss of $4.9 million and cash reserves of $11.9 million. Some investors may be concerned that it could quicken the path to a capital raising.

The post Why BHP, Northern Star, Resimac, and Tivan shares are falling today appeared first on The Motley Fool Australia.

Resimac Group Ltd (ASX: RMC) has beaten that benchmark so far this year, rising 12.24%. 

Resimac Group is a non-bank lending company. It is a residential mortgage lender and multi-channel distribution business specialising in Prime and Specialist lending. 

The group operates in targeted market segments and asset classes in Australia and New Zealand.

Bell Potter recently upgraded its guidance and price target on this ASX financials stock. 

Let's see what was behind the upgrade. 

Important developments in 2025 

Resimac underwent a CEO change in April, a revised strategy, as well as the acquisition of the $1.5bn Westpac Auto portfolio. 

According to Bell Potter, RMC has a small but strong position in the mortgage market and a position in Asset finance, with both segments having scope to grow profitably. 

The company has a renewed team and strategy and a revised growth agenda. Its priorities are focused on investing in the broker and customer experience, leveraging automation, enhancing the core product suite, and reinforcing its security and governance foundations.

The company also released the following FY 25 results in August: 

• AUM increased 14% to $15.9 billion
• Operating profit before impairment expense and tax of $78.6 million, up 13%
• Statutory NPAT of $34.6 million, down 1%

Speaking on the results, Bell Potter said: 

The results were better than expected from a larger book generating more net interest income and impairments below expectations (although rising vs pcp). Normalised NPAT was down 8% to $39.7m but ahead of our expectation of $29.7m.

Price target upside 

Following the FY25 results, broker Bell Potter upgraded its guidance on this ASX financials stock. 

The broker increased its forecast by 52.5% for FY26 and 46.0% for FY27, off a relatively low base. 

Our NPV gives a value for the business of $604m or $1.53/sh. This is a considerable increase on our previous $0.98/sh but driven by the turn around in profitability and the improved outlook. We round to $1.50 to set a target price and maintain our BUY recommendation.

Based on the price target of $1.50 and yesterday's closing price of $1.10, the broker anticipates 36.36% upside in this ASX financials stock. 

The stock also currently has a dividend yield above 6%.

The post This ASX financials stock could be set to rise 36%! appeared first on The Motley Fool Australia.

Following their dominant performance over the past 2 years, the consensus view is that they have become fully valued or overvalued. 

The most extreme example is Commonwealth Bank of Australia (ASX: CBA).

A 21 July Australian Financial Review article revealed that Hedge Fund Sage Capital had recently doubled down on its short position in CBA shares. This comes despite the ASX 200 bank's dramatic surge over the past few months hindering the fund's returns. 

In his latest note to investors, Sage Capital portfolio manager Sean Fenton told investors that he was sticking with his position on CBA, noting that the bank had become the most expensive banking stock in the world. 

While CBA shares have declined around 8% from their June peak of $192, many experts believe they have further to fall. 

Broker Macquarie has a price target of $105 on CBA shares. Its price targets for the other three big 4 banks are also below current share prices. 

So, investors appear to be left with no attractive options in the big 4 banking space.

An alternative: non-bank lenders

Those looking for exposure to the financial services sector may wish to consider non-bank lenders. 

According to a 15 July report, Australian Non-bank Lenders by Macquarie Group, rate cuts and funding costs continue to support the non-bank sector. 

Macquarie said data had revealed that non-banks (as a whole) have increased their market share of new mortgage flows. The broker also expects conditions to continue to improve for non-bank lenders.

With market pricing in further rate cuts, mortgage competition may ease from the banks as deposit profitability becomes impacted, giving non-bank lenders room to compete and grow volumes or expand margin.

However, the broker also acknowledged that the competition dynamics had changed:

As our Lendi Mortgage Pricing Index shows, bank mortgage spreads are largely unchanged in the past 18 months. However, competition has moved from banks to non-banks. Discussions with management and brokers suggest some non-bank lenders are taking advantage of the improved funding environment and competing aggressively on mortgages. In addition, there are newer entrants into the market as well who focus on prime mortgages given easier credit decisioning. We expect the growth-oriented strategies of non-banks to put some pressure on margins and/or volumes.

Therefore, while investment opportunities exist within the non-bank sector, investors must be selective. 

Investors should keep this in mind when considering alternatives to the big 4 banks.

Where does the broker see value?

In its research note, Macquarie also named two non-bank lenders it expected to outperform and two on which it held a neutral view. 

The broker said non-banks had performed very strongly in 2025, rallying ~10-45%. 

At the beginning of 2025, Macquarie preferred Liberty Financial Group Ltd (ASX: LFG) and Pepper Money Ltd (ASX: PPM) due to tailwinds and on valuation grounds. 

However, after rallying 34% for the year to date, Macquarie has downgraded Pepper Money from outperform to neutral with a price target of $1.77. 

The broker has retained an outperform rating on Liberty Financial Group and price target of $4.30.

The broker also has an outperform rating on Australian Finance Group Ltd (ASX: AFG) and a price target of $2.20. Meanwhile, Resmiac Group Ltd (ASX: RMC) has been assigned a neutral rating and a price target of $0.95.

The post Are non-bank lenders a lucrative alternative to the big 4 banks? appeared first on The Motley Fool Australia.

That's because the ASX shares in this article have been recommended as buys and tipped to rise at least 20% from current levels. Here's what brokers are bullish on right now:

Adairs Ltd (ASX: ADH)

The team at Morgans is sticking with this furniture and homewares retailer after the release of a disappointing trading update which revealed that its earnings will be comfortably short of expectations. It explains:

ADH has provided a trading update for FY25, with group EBIT (pre-AASB 16) expected to be between $53.5-57.0m, which was roughly 10% lower than consensus expectations and up 1.2% on the pcp. Sales are expected to be broadly in line with expectations and up 6.2% yoy (Adairs up 9.2%, Mocka up 14.1% and Focus down 7.0%).

However, performance has been impacted by elevated levels of promotional activity and weaker AUD compared to the pcp which has impacted gross margins. We have lowered our EBIT forecast by 15%/14% in FY25 and FY26. We continue to see this business significantly leveraged into a recovery in consumer sentiment.

Morgans has put a buy rating and $2.60 price target on its shares. Based on its current share price of $2.00, this implies potential upside of 30% for investors over the next 12 months.

Aurelia Metals Ltd (ASX: AMI)

Analysts at Macquarie think this gold and copper miner's shares are undervalued following recent weakness. The broker said:

While AMI can be applauded for providing a detailed level of disclosure, perhaps the market has penalised it for its transparency. Although positive FCF generation has been deferred to FY28 due to organic investments, its strong balance sheet (A$107m cash) differentiates it to peers.

Macquarie has an outperform rating and 25 cents price target on its shares. Based on its current share price of 20 cents, this suggests that upside of 25% is possible between now and this time next year.

Resimac Group Ltd (ASX: RMC)

Bell Potter is bullish on this non-bank lender and believes it could be an ASX share to buy now.

Following a change of CEO and the announcement of a special dividend, the broker feels that Resimac is going places. It said:

The buy case remains. RMC has a small but strong position in the mortgage market and a developing position in novated leases, both of which give it scope to grow profitably. After a period of stiff competition and change of leadership, the company has renewed team and strategy with a revised agenda to grow. We review our assumptions and include the $1.5bn auto book.

Bell Potter has a buy rating and $1.00 price target on its shares. Based on its current share price of 83 cents, this implies potential upside of 20.5% for investors over the next 12 months.

The post These ASX shares could rise 20% to 30% appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is down 3% to $10.41. This may have been driven by the release of the details of the Virgin Australia IPO yesterday. According to the term sheet, the airline will be offering its shares at $2.90 per share. This values the company at $2.32 billion. It is possible that some investors are taking profit on Qantas shares and looking to invest in this IPO now. The Qantas share price is up almost 70% since this time last year.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 12% to 89 cents. This has been driven by the non-bank lender's shares going ex-dividend this morning for its special divided. Earlier this week, Resimac announced plans to pay shareholders a fully franked special dividend of 12 cents per share. This decision follows a comprehensive strategic review of its operating assets and capital requirements, which found that surplus capital was not essential for supporting its strategic objectives. Resimac will be paying this dividend later this month on 23 June.

Tyro Payments Ltd (ASX: TYR)

The Tyro Payments share price is down 10% to 82.5 cents. Investors have been selling this payments company's shares following news that its CEO is leaving. According to the release, Tyro's CEO and Managing Director, Jon Davey, is stepping down after accepting the CEO role at a private equity backed business. He said: "It's been a privilege to lead Tyro. I'm proud of what we've achieved and confident in the company's future. I remain fully committed to supporting the business and ensuring a seamless handover to the next CEO."

Washington H Soul Pattinson and Company Ltd (ASX: SOL)

The Soul Patts is down 3% to $40.14. This appears to have been driven by profit taking from investors after some very strong gains this week. Investors were buying the investment company's shares following news that it is merging with building products company Brickworks Ltd (ASX: BKW). Commenting on the deal, Soul Patts CEO, Todd Barlow, said: "Merging Soul Patts with Brickworks makes a lot of strategic and financial sense. It simplifies the structure, adds scale, and creates a more investable company. In many ways Soul Patts and Brickworks have evolved together and shared in the capital stability provided by our cross-shareholding over the past 56 years."

The post Why Qantas, Resimac, Tyro, and Soul Patts shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

BlueScope Steel Ltd (ASX: BSL)

The BlueScope Steel share price is up 6% to $24.14. This follows news that US President Donald Trump plans to increase tariffs on foreign steel imports from 25% to 50%. While you might think that this would be a negative for the steel producer, its diverse operations make it a positive. BlueScope generates around half of its earnings from its US-based North Star business. If tariffs reduce imports, then it could lead to increased demand for North Star's offering and boost earnings further.

Brickworks Ltd (ASX: BKW)

The Brickworks share price is up 22% to $33.60. Investors have been buying this building products company's shares after it announced plans to merge with Washington H. Soul Pattinson & Co Ltd (ASX: SOL). This deal will see Brickworks shareholders receive 0.82 shares in a newly formed entity, TopCo, for each share held. This arrangement initially valued Brickworks shares at $30.28, which was a 10.1% premium to their previous close. However, with the Soul Patts share price rising strongly today, it has boosted the value of the consideration.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is up 13.5% to 96.5 cents. This has been driven by news that the non-bank lender has decided to reward its shareholders with a special dividend. This decision follows a comprehensive strategic review of its operating assets and capital requirements, which found that surplus capital was not essential for supporting its strategic objectives. Resimac will be paying shareholders a fully franked special dividend of 12 cents per share on 23 June. Its shares will be going ex-dividend for it later this week on 5 June.

Soul Patts

The Soul Patts share price is up 14% to $41.99. Investors have responded positively to the investment company's plan to merge with Brickworks. Commenting on the benefits of the deal, Brickworks' lead independent director, Deborah Page, said: "We believe entering into this merger maximises value for Brickworks shareholders. The opportunity to unwind the cross-shareholding will offer Brickworks shareholders the potential to enhance the underlying value of Brickworks' own assets." Once the merger is complete, Soul Patts shareholders will own around 72% of the new company.

The post Why BlueScope, Brickworks, Resimac, and Soul Patts shares are racing higher today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

James Hardie Industries plc (ASX: JHX)

The James Hardie share price is down 7% to $35.79. This follows the release of the building materials company's quarterly update. James Hardie posted a 1% decline in net sales to US$3,877.5 million and a 17% drop in net profit to US$424 million. While this meant that it still achieved its full year guidance, its outlook commentary for FY 2026 may have disappointed. Management warned: "More recent, broader macroeconomic uncertainty could further impact the cost of home construction and weigh on consumer sentiment, influencing demand."

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is down 30% to $4.52. Investors have been selling this pharmaceutical company's shares amid concerns that its takeover deal could collapse. This follows the receipt of a notice from its suitor, Cosette Pharmaceuticals, over the weekend alleging that a "Material Adverse Change" had occurred. This potentially gives Cosette the right to walk away from the $672 million deal. Cosette cited a combination of issues — including Mayne's recent earnings update, ongoing litigation with TXMD, and an FDA letter — as the basis for its claim.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is down over 28% to $2.88. This has been driven by the release of the crop protection company's half year results this morning. Nufarm reported a 3% lift in revenue to $1,811 million but a 39% decline in statutory net profit after tax to $29.8 million. This was driven by its Seed Technologies business, which reported revenue of $249 million and underlying EBIT of $15.9 million. The latter was down 71% decline on the prior corresponding period due to lower licensing revenues, lower margins in omega-3, and lower canola revenues in Australia.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 4% to 81.7 cents. This follows news that ASIC has commenced civil penalty proceedings against the non-bank lender. Resimac revealed that the regulator is alleging contraventions in relation to hardship notices under the National Consumer Credit Protection Act. The company responded: "Resimac acknowledges that its previous practices regarding hardship notices provided by customers could have been better and apologises that this has occurred. Since becoming aware of the issue, Resimac has enhanced its processes to give greater support to customers facing financial difficulties."

The post Why James Hardie, Mayne Pharma, Nufarm, and Resimac shares are falling today appeared first on The Motley Fool Australia.

On 14 May, Macquarie reported its Top 10 grossed-up dividend stocks for the upcoming financial year. That is, the estimated grossed-up yield investors will receive for the next financial year if they buy the stock today (including franking credits).

Based on Macquarie's analysis, several stocks offer grossed-up yields above 10%. With a mix of small caps and large caps, there is something for everyone. 

So, what are they?

McMillan Shakespeare Ltd (ASX: MMS)

McMillan Shakespeare provides salary packaging, novated leasing, disability plan management, support coordination, asset management, and complementary financial services in Australia and New Zealand. With a market capitalisation of $1.13 billion, it is outside the S&P/ASX 200 Index (ASX: XJO) and may go under investors' radar. However, according to Macquarie, investors who buy it today will receive a forward dividend yield of 8.79%. This amounts to a grossed-up yield of 12.55%, which is compelling for those after passive income.

Coronado Global Resources Inc (ASX: CRN)

Coronado Global Resources produces, markets, and exports metallurgical coal internationally. It owns 100% interest in the Curragh mining property in the Bowen Basin of Queensland. With a market capitalisation of $347 million, it is a small-capitalisation company. According to Macquarie, those who buy Coronado Global Resources today will gain a forward yield of 8.20%, which amounts to a grossed-up yield of 11.71%.

Fortescue Metals Group (ASX: FMG)

Fortescue engages in the exploration, development, production, processing, and sale of iron ore internationally and in exploring for other minerals. It is an ASX 200 stock with a market capitalisation of $51.8 billion, so it is well known amongst ASX investors. However, sometimes the best opportunities are hidden in plain sight. Macquarie projects its forward yield to be 8.05%, amounting to a grossed-up yield of 11.5%. Those wanting to bank this dividend in the coming financial year might consider buying Fortescue today.

Resimac Group Ltd (ASX: RMC)

Resimac Group provides residential mortgage and asset finance lending products in Australia and New Zealand. With a market capitalisation of $344 million, it is another small-cap stock. Macquarie projects its forward dividend yield to be 7.91%, which is 11.3% grossed up. It could be another good option for passive income-focused investors who prefer small caps.

New Hope Corporation Ltd (ASX: NHC)

New Hope is an Australian thermal coal-mining company. Its operations include New Acland Mine, Bengalla Mine, and Queensland Bulk Handling. With a market capitalisation of $3.2 billion, it sits in the ASX 200. Macquarie is forecasting a forward dividend yield of 7.65% (10.93% grossed up) for those who buy it today. 

Pepper Money Ltd (ASX: PPM)

Pepper Money is a non-bank lender. It operates in the mortgage and asset finance markets in Australia and New Zealand. With a market capitalisation of $734 million, it is at the smaller end of the town on the ASX. It's also only been listed since 2021. However, for investors who buy it at today's price, Macquarie projects a dividend yield of 7.12% (10.17% grossed up).

Foolish Takeaway

Investors seeking passive income are in luck – Macquarie recently listed 6 ASX stocks that, if purchased today, they expect to deliver above 10% yields next financial year. However, their analysis does not consider total return, that is, the likelihood of capital growth. Passive income-oriented investors who also wish to preserve capital should use this list as a starting point before digging into further analysis.

The post Turbocharge passive income: Macquarie lists 6 ASX stocks with grossed-up dividend yields above 10% appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Challenger Ltd (ASX: CGF)

The Challenger share price is down 10% to $5.52. The catalyst for this was the release of the annuities company's half year results this morning. Challenger revealed a 12% increase in normalised net profit after tax to $225 million and a statutory net profit after tax of $72 million. Goldman Sachs wasn't impressed. It said: "The 1H25 normalised NPAT was slightly softer than expected at ~2%. Statutory profit was very weak driven by more adverse asset experience, particularly property and alternatives. The weaker normalised result was driven by a weaker COE margin (some timing differences that could support 2H but still weaker) – a key focus will be on how this will track into 2H25 and FY26+."

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance share price is down 5% to $5.11. This plumbing parts company's shares have come under pressure following the release of its half year results. Boosted by the acquisition of Holman, Reliance reported a 14.8% increase in net sales to US$676.5 million and a 12.3% lift in adjusted net profit after tax to US$76 million. However, its guidance for the remainder of the financial year disappointed. Goldman Sachs said: "Excluding Holman and Supply Smart – full year group external sales are expected to be flat (+/- LSD%), which compares with GSe growth of 3%."

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 12% to 91 cents. This has been driven by the release of the non-bank lender's first half results. Resimac posted a 12% decline in normalised net profit after tax to $15 million for the half. It also revealed that its asset finance portfolio experienced an increase in arrears and recorded net write-offs of $6.5 million, compared to $2.9 million for the previous period. In light of this, management warned: "Based on the recent experience with arrears, net write-offs, and the subsequent impact on collective provisioning, it is probable that the Group will not meet NPAT (excluding FV movements on derivatives) consensus for FY25."

SRG Global Ltd (ASX: SRG)

The SRG Global share price is down 5% to $1.35. Investors have been selling this diversified infrastructure services company's shares after its FY 2025 guidance disappointed. After delivering strong sales and earnings growth in the first half, management has upgraded its EBITDA guidance to a range of $125 million to $128 million. However, analysts at Bell Potter were looking for the company to upgrade its EBITDA guidance to $128.5 million for the full year.

The post Why Challenger, Reliance, Resimac, and SRG shares are sinking today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

EML Payments Ltd (ASX: EML)

The EML Payments share price is up 24% to 85 cents. This follows the release of a trading update from the payments company at its annual general meeting. During the first quarter of FY 2025, EML Payments achieved a 7% increase in gross debit volume (GDV) to $5,857 million, a 12% lift in revenue to $48.8 million, and a 64% jump in quarterly underlying EBITDA to $11.6 million. Management also reiterated its FY 2025 guidance and spoke positively about the future. The latter includes announcing an earnings per share target of 13 cents by FY 2028.

Gentrack Group Ltd (ASX: GTK)

The Gentrack share price is up almost 18% to $11.06. Investors have been buying this software company's shares following the release of its full year results. Thanks to grow across the business, Gentrack reported a 25.5% increase in revenue to NZ$213.2 million. Management also spoke positively about next year. It said: "We remain confident of our mid-term guidance of growing revenue more than 15% CAGR and an EBITDA margin of 15-20% after expensing all development costs."

Regis Healthcare Ltd (ASX: REG)

The Regis Healthcare share price is up 3% to $6.67. This morning, the aged care operator released its annual general meeting presentation. That presentation included an update on its performance in the first quarter. CEO Dr Linda Mellors said: "Our strong performance in FY24, as highlighted by Graham, has continued into the first quarter of FY25 and we are currently tracking modestly ahead of our internal profit target. Our average occupancy improved from 94.9% in Q4 FY24 to 95.5% in Q1 FY25, with spot occupancy on 31 October 2024 at 96.0% tracking ahead of budget."

Resimac Group Ltd (ASX: RMC)

The Resimac Group share price is up 4% to 87.5 cents. This follows the announcement of an on-market share buyback by the non-bank lender this morning. It said: "The Board considers that the Company's current share price does not accurately reflect the underlying value of the Company's assets and the Share Buy-Back represents an opportunity to add value to the remaining shares on issue."

The post Why EML Payments, Gentrack, Regis, and Resimac shares are racing higher appeared first on The Motley Fool Australia.

At the time of writing, the banking giant's shares are down 0.5% to $30.93.

Why are Westpac shares falling?

The big four bank's shares are falling today despite announcing that it is making another divestment.

According to the release, Westpac has entered into an agreement to sell its auto finance loans and lease receivables to Resimac Group Ltd (ASX: RMC).

The bank revealed that the deal is expected to complete in the first half of 2025, with an expected transaction value of $1.4 billion to $1.6 billion. However, management advised that it is not expected to have a material impact on Westpac's financial statements.

This sale represents the end of Westpac's divestment of its auto finance business, following the partial sale in 2021.

That transaction saw Westpac sell its motor vehicle dealer finance and novated leasing businesses to Angle Finance, a portfolio company of Cerberus Capital Management.

Commenting on the sale at the time, Westpac Group's chief executive of specialist businesses and group strategy, Jason Yetton, said:

This sale brings certainty for our customers, new opportunities for our people and continues the progress we are making on becoming a simpler bank. Angle Auto Finance is committed to the Auto Finance industry and will provide the capability and strategic focus to grow and improve the business.

Resimac shares are rising on Thursday morning on the back of the news. In a separate announcement, the non-bank lender and multi-channel distribution business commented:

The transaction supports the strategic growth objectives of Resimac's asset finance division and follows a number of business and portfolio acquisitions in recent years. The transaction is expected to complete in first half of 2025 and is not expected to have a material impact on Resimac's FY25 financial results.

Should you invest in Westpac?

Unfortunately, none of the major brokers are tipping Westpac's shares as a buy right now.

In fact, even after a recent pullback, almost all brokers are forecasting further material declines for the bank's share price.

For example, Goldman Sachs has a sell rating and $25.84 price target. It said:

We remain Sell-rated on WBC given: i) WBC's technology simplification plan (details here) comes with a significant degree of execution risk, given historically banks' large-scale transformation programs have struggled to stay on budget, and we note management today has flagged ongoing inflationary pressures, and ii) of the major banks, WBC's balance sheet is the most overweight domestic housing, which we expect will be more growth constrained than commercial lending over the medium term. Therefore, trading on a 12-mo forward PER of 15.3x, nearly two standard deviations above its 15-yr average, we stay Sell.

The post Westpac shares lower despite $1.5b asset sale appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Block Inc (ASX: SQ2)

The Block Inc share price is up 5.5% to $100.55. This follows the release of the payments company's quarterly update. For the quarter, Block reported an 11.2% increase in total revenue to US$6.16 billion. And with operating expenses falling 3.4% to US$1.93 billion, this helped Block almost double its net income to US$195 million. Also getting investors excited was news that its board has now authorised the repurchase of up to an additional US$3 billion of shares to return capital to shareholders.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price is up over 4% to $17.17. Investors have been buying this investment management company's shares following the release of its full year results. Pinnacle reported an 18.1% increase in profit to $90.35 million. This allowed the company's board to increase its dividend by 17% to 42 cents. Management notes that affiliate revenues (including performance fees) grew by 30% over FY 2023, which included revenues from Horizon 2 initiatives.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is up 3% to 90 cents. This morning, this non-bank lender released a trading update for FY 2024. Resimac revealed that total settlements for the year were $5.1 billion, which is up from $4.2 billion from a year earlier. This comprises home loan settlements of $4.3 billion (up from $3.7 billion) and asset finance settlements of $0.8 billion (up from $0.5 billion). Management also revealed that arrears and hardships remain relatively low across all product segments. This is reflective of the underlying credit quality of the book supported by a strong collections and recovery capability.

Westgold Resources Ltd (ASX: WGX)

The Westgold Resources share price is up 2% to $2.70. This morning, Westgold announced that its merger with Karora Resources is complete. It notes that this creates a leading mid-tier gold producer and international gold company, which is expected to be dual listed on the Australian Securities Exchange and Toronto Stock Exchange. CEO Wayne Bramwell said: "Today marks the next phase of Westgold's evolution into a larger, unhedged and well-funded Australian gold producer."

The post Why Block, Pinnacle, Resimac, and Westgold shares are pushing higher today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot share price is down almost 2% to $2.85. This follows news that the agricultural chemicals company has ended negotiations with PT Pupuk Kalimantan Timur for the sale of its fertilisers business. The deal for the Incitec Pivot Fertilisers business was estimated to be valued at over $1 billion. Management advised: "Throughout the sale negotiations with PKT, we were focused on completing a sale transaction in a timely manner to allow us to commence our on-market buyback of up to $900 million. We have determined we are unlikely to achieve this outcome with PKT in an acceptable timeframe, and as a result we made the decision to cease negotiations with them."

Kogan.com Ltd (ASX: KGN)

The Kogan share price is down almost 3% to $4.02. This is despite there being no news out of the online retailer. However, it is worth noting that Kogan's shares have been under significant pressure in recent months. So much so, its shares have lost half their value since the middle of March and hit a 52-week low this morning. Investors may be concerned by rising competition from the likes of Amazon, Temu, and Shein.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is down over 6% to $2.34. This financial services company's shares rose almost 14% on Tuesday in response to speculation that it could be a takeover target of a private equity firm. The media report claimed that the company, which was formerly known as IOOF, had called in Citi to support it with takeover approaches. However, after the market close yesterday, the company responded to a speeding ticket from the ASX by advising that "Citi has not been engaged to field any offers and the company is not aware of any offer."

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down a further 2.5% to 79.5 cents. This non-bank lender's shares have been under pressure this week after it announced the sudden exit of its CEO without reason. According to the release, Scott McWilliam has resigned from his employment with Resimac after 21 years of service. This included six years as its CEO and three years as its joint CEO following the merger with Homeloans Limited. It also advised that Mr McWilliam will take a period of leave before his employment contract ends on 1 September 2024.

The post Why Incitec Pivot, Kogan, Insignia, and Resimac shares are dropping today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel Pharmaceuticals share price is down 6.5% to $14.50. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has downgraded the biopharmaceutical company's shares to a hold rating with a $16.00 price target. Morgans made the move partly on valuation grounds. It also highlights that there are risks around competition that investors should be considering.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is down 4.5% to $1.07. This is despite the release of a positive announcement this morning from the biotechnology company. Mesoblast revealed that it has now resubmitted its biologic license application (BLA) for the approval of Ryoncil in the treatment of children with steroid-refractory acute graft-versus-host disease (SR-aGVHD). Management expects an answer from the United States Food & Drug Administration (FDA) in two to six months. But with its shares up almost 300% over the past six months, it seems that some investors aren't sticking around to find out if it will finally be approved.

Red Hill Minerals Ltd (ASX: RHI)

The Red Hill Minerals share price is down 21% to $6.19. This has been driven by the iron ore, gold, and base metals explorer's shares going ex-dividend this morning for a big payout. Last week, the company announced a $1.50 per share fully franked dividend. This was in response to the receipt of $200 million milestone payment from Mineral Resources Ltd (ASX: MIN) relating to the Onslow Iron Project. Eligible shareholders can now look forward to receiving this dividend next week on 19 July. Based on yesterday's close price, this payout represents a sizeable 19.2% dividend yield.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 4% to 83 cents. Investors have been selling this non-bank lender's shares today after it announced the sudden exit of its CEO. According to the release, Scott McWilliam has resigned from his employment with Resimac after 21 years of service. This includes six years as its CEO and three years as its joint CEO following the merger with Homeloans Limited. Mr McWilliam will take a period of leave before his employment contract ends on 1 September 2024.

The post Why Clinuvel, Mesoblast, Red Hill, and Resimac shares are sinking today appeared first on The Motley Fool Australia.

The explanation is straightforward before you go racking your brain on why that might be. Today is the ex-dividend date for these major companies.

Simply put, this means anyone who buys shares today (or hereafter) will not be eligible for the upcoming dividend. As a consequence, the market naturally factors this into the share price.

Which ASX All Ords shares are trading ex-dividend today?

Resimac Group Ltd (ASX: RMC)

The non-bank lender is the smallest by market capitalistion on today's list. Resimac shares are down 7.8% to $1.01 around lunchtime as the company trades without its upcoming final dividend.

Those investors who acquired shares prior to the ex-dividend date will receive a payment of 4 cents per share fully franked. This amount is equal to the interim dividend, bringing total dividends for FY23 to 8 cents per share — equating to a yield of 7.3% based on yesterday's closing price.

Notably, the full-year payment is unchanged from FY22 despite a 35% decline in the company's net profits after tax (NPAT).

McMillan Shakespeare Ltd (ASX: MMS)

McMillan Shakespeare is another ASX All Ords share getting sold off today as it trades ex-dividend. Shares in the salary packaging and novated lease provider are 6.5% lower than where they finished yesterday.

For anyone holding McMillan shares prior to today, a 66 cent per share fully franked payment is set to come your way on 22 September.

The final dividend is 10.8% less than what was offered in the prior corresponding period. However, the full-year total is an improved $1.24 due to a higher interim payment — representing a 6.8% yield on yesterday's closing price.

Super Retail Group Ltd (ASX: SUL)

Finally, the sixth worst-performing company among ASX All Ords shares today is Super Retail Group. Investors are kicking it to the curb, with the retailer's shares 6.4% lower to $11.98 at lunchtime on Thursday.

Investors who held Super Retail shares before today will receive a final dividend per share of 44 cents and a special dividend of 25 cents. The boosted payment takes the company's total dividends in FY23 to a record $1.03 per share — working out to an 8% yield on the prior day's closing price.

Those eligible can expect this juicy dividend to land in their accounts on 18 October.

The post 3 ASX All Ords shares sinking over 5% after trading ex-dividend appeared first on The Motley Fool Australia.

Three results that are in the latter category are summarised below. Here's why investors are selling these ASX All Ords shares:

CogState Limited (ASX: CGS)

The CogState share price is down 20% to $1.30. This morning, this ASX All Ords neuroscience technology company revealed that it expects to report a 12% decline in first-half clinical trials revenue to $17.1 million and breakeven profit before tax.

Management advised that its revenue and profit were impacted by a slower than expected enrolment of patients by pharmaceutical companies in a small number of their large Alzheimer's trials. More of the same is expected in the second-half, with management guiding to a full-year revenue decline of 6% to 9%.

Fineos Corporation Holdings PLC (ASX: FCL)

The Fineos share price has crashed 16% to $1.65. Investors have been selling the shares of this leading provider of core systems for employee benefits and life, accident and health insurance after its first-half loss widened.

Fineos posted an 18.4% increase in subscription revenue to 29.9 million euros and a 14.7% lift in annual recurring revenue (ARR). However, overall revenue was down 6% on the prior corresponding period.

On the bottom line, the ASX All Ords company posted a loss after tax of 14.6 million euros, up from a loss of 4.6 million euros a year earlier.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 9% to $1.06. This morning, this residential mortgage lender released its half-year results and reported a 30% decline in normalised net profit after tax to $37.5 million.

This was driven by a sharp reduction in home loan settlements compared to the prior corresponding period due to the impact of inflation and rising interest rates on household cost-of-living.

Management warned that there are no signs of relief in rising interest rates and inflationary pressures this year, which is likely to mean a tough second half. However, it remains positive on the medium term outlook.

The post 3 ASX All Ord shares being hammered on earnings today appeared first on The Motley Fool Australia.

When a company's shares turn ex-dividend, they no longer trade with the recent dividend payment attached to it.

The highest-profile ASX All Ords share turning ex-dividend tomorrow is Woodside Energy Group Ltd (ASX: WDS). You'll find everything you need to know about the latest Woodside dividend in our recent coverage here.

But there are some other ASX All Ords shares with notable dividend yields that are also going ex-dividend tomorrow. Let's check them out.

Perpetual Limited (ASX: PPT)

ASX financials share Perpetual recently announced a fully franked final dividend of 97 cents, which will be paid on 30 September. A dividend reinvestment plan (DRP) is also available.

Perpetual delivered 20% revenue growth in FY22, benefitting from both organic and acquisitive growth. Underlying net profit after tax (NPAT) grew by a similar amount, helping Perpetual to lift its full-year dividends by 16% over the prior year.

This puts Perpetual shares on a sizeable trailing dividend yield of 7.9%, which grosses up to 11.3%, including franking credits.

In other news, after months of negotiations, the company looks set to acquire rival fund manager Pendal Group Ltd (ASX: PDL). Pendal's board is unanimously supporting Perpetual's $2.5 billion takeover bid.

Smartgroup Corporation Ltd (ASX: SIQ)

Today will be the final day for investors to bag Smartgroup's fully franked interim dividend of 17 cents. The company has pencilled in the payment date for 23 September.

This interim dividend is 3% lower than the interim dividend declared in 2021.

In the first half of FY22, Smartgroup's revenue climbed by 4%, while adjusted NPAT swung the other way, dropping by 4%.

Smartgroup shares are currently flashing a trailing 12-month dividend yield of 11.1%. However, the company's final dividend earlier in the year included a special dividend of 30 cents.

But even excluding this special dividend, Smartgroup shares are still sporting a notable trailing dividend yield of 6.1%. With the benefit of franking credits, this grosses up to 8.7%.

Peter Warren Automotive Holdings Ltd (ASX: PWR)

Peter Warren shares will be trading tomorrow without a fully franked final dividend of 13 cents, which will be paid on 7 October.

The ASX car dealership group delivered 6% revenue growth and 37% underlying NPAT growth in FY22. This growth was primarily driven by the acquisition of Penfold Motor Group, which was completed in December 2021.

After listing last year, Peter Warren declared maiden dividends in FY22, with the total coming in at 22 cents. This represents a dividend payout ratio of 67% of NPAT.

Peter Warren shares are currently trading on a trailing dividend yield of 8.1% or 11.6% grossed up. 

Resimac Group Ltd (ASX: RMC)

Shares in mortgage business Resimac will be trading tomorrow without a fully franked final dividend of 4 cents. The company has set the payment date for 23 September.

The mortgage lending business posted double-digit growth in home loan assets under management in FY22. But NPAT growth couldn't follow suit, dropping 5% on the prior year.

Nonetheless, the ASX All Ords share lifted its full-year dividends by 25% after bumping up its dividend payout ratio from 24% of NPAT in FY21 to 32% in FY22. 

Resimac shares are printing a trailing dividend yield of 6.7%. Throwing in franking credits, this yield cranks up to 9.6%. 

Monash IVF Group Ltd (ASX: MVF)

Finally, Monash IVF is another ASX All Ords share turning ex-dividend tomorrow. Shares will be trading without a fully franked final dividend of 2.2 cents, which will be paid on 7 October.

Monash IVF delivered 5% revenue growth in FY22, driven by price increases in the domestic assisted reproductive services (ARS) segment. 

Despite underlying NPAT slightly retreating in FY22, the company still raised its total dividends by 5% to 4.4 cents.

This puts Monash IVF shares on a trailing dividend yield of 4.4%, which grosses up to 6.3%.

The post 5 ASX All Ords shares trading ex-dividend on Thursday appeared first on The Motley Fool Australia.

There is no shortage of guesses — but no one really knows how the war in Ukraine will turn out, nor how the economy and the share market will cope with multiple interest rate rises.

In such volatile times, it's not such a bad idea to invest in ASX shares that provide the essentials of life.

If companies provide products and services people can't live without, then at least you don't have to worry about waning demand.

Here are a couple of such stocks Wilsons investment advisor Peter Moran currently rates as buys:

'Outlook is improving'

Fruit and vegetable supplier Costa Group Holdings Ltd (ASX: CGC) has seen its shares rise more than 13.7% over the past month.

Moran isn't surprised, with his team recently upgrading the stock to "overweight".

"The outlook is improving for Australia's biggest grower and marketer of fresh fruit and vegetables," he told The Bull.

"Positive catalysts include increasing table grape exports and higher domestic pricing in the key categories of mushrooms, blueberries and tomatoes."

There are some handy foreign tailwinds too.

"The international business is benefiting from increasing demand from China and from supply issues for competitors based in Chile."

Costa Group shares also give out a tidy 2.65% dividend yield.

It seems Moran is not the only one bullish on Costa. According to CMC Markets, 10 out of 13 analysts rate the stock as either "strong buy" or "moderate buy".

'Well-positioned to compete'

As well as eating vegetables and fruit, Australians also need somewhere to live.

That's where Moran's recommendation of Resimac Group Ltd (ASX: RMC) shares comes in.

"Resimac is one of Australia's largest non-bank financial lenders," he said.

"The company's [flexible] and attractively-priced loans have resulted in solid loan origination growth in recent years."

Believe it or not, Moran rates Resimac as a buy despite expecting a financial downgrade in the short term.

"The lending environment is competitive and we expect a slight decrease in profitability for the current financial year," he said.

"However, Resimac is well-positioned to compete in this environment and we expect profit growth to resume next financial year. We hold an overweight recommendation."

Analyst coverage on the $680 million company is sparse. CMC Markets shows just one other fund manager other than Wilsons also rating it as a buy.

The share price has dipped 11.6% for the year so far.

The post Everyone needs to eat: Expert flags 2 ASX shares to buy now appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are sinking:

Austal Limited (ASX: ASB)

The Austal share price is down over 8% to $1.83. Investors have been selling the shipbuilder's shares after the Philippines Navy decided to sole-source foreign-built Offshore Patrol Vessels rather than proceed to purchase Austal-built vessels facilitated through a Government Memorandum of Understanding with the Commonwealth of Australia. Austal will now focus on securing orders for commercial ferries for its Philippines shipyard.

Cettire Ltd (ASX: CTT)

The Cettire share price is down 14% to $1.33. This has been driven by news that its founder and CEO, Dean Mintz, sold a large number of shares. According to the release, the luxury online retailer's CEO has sold 35 million shares in the company at a discount of $1.35 per share via a block trade. This represents 9.18% of the company's issued capital.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is down 7% to $23.95. This follows the release of a trading update out of the medical device company. Fisher & Paykel Healthcare advised that it expects FY 2022 operating revenue in the range of NZ$1.675 billion to NZ$1.70 billion. This represents a 13.7% to 15% year on year decline from NZ$1.97 billion in FY 2021. It also warned that higher freight costs would impact margins.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down over 3% to $1.60. Investors have been selling the residential mortgage lender's shares after it announced the settlement of Premier Series 2022-1 prime $1 billion residential mortgage backed securities (RMBS) transaction.

The post Why Austal, Cettire, Fisher & Paykel Healthcare, and Resimac shares are sinking appeared first on The Motley Fool Australia.

But that price doesn't appear to please the Board of the non-bank lending company.

Below, we take a look at the details of the Board's share buyback plans.

What are the Board's share buyback intentions?

The Resimac share price is off to the races after the company reported it will undertake an on-market share buyback.

Why?

According to the release, "The Board considers that the company's current share price does not accurately reflect the underlying value of the company's assets and the share buy-back represents an opportunity to add value to the remaining shares on issue."

Resimac said it plans to start its share buybacks on 29 December and continue for up to 12 months. It will instruct Bell Potter Securities, its broker, to buy shares "only where the position maximises the benefits of the share buy-back to the company".

Of the 408.79 million ordinary shares outstanding, Resimac intends to buy back a maximum of 40.8 million, or 10%.

The shares will be bought back for a cash consideration in Aussie dollars. But the price to be paid remains to be determined.

The buyback does not require shareholder approval to move forward.

Resimac instructed its shareholders that it cannot guarantee it will acquire all, or indeed any, of the shares under its announced buyback program.

Resimac share price and company snapshot

Despite a strong showing in intraday trade today, the Resimac share price remains down 14% in 2021. That compares to a year-to-date gain of 13% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, shares in Resimac have edged up 3%.

The company was distinguished as Non-Bank of the Year by the Australian Mortgage Awards 2020. It originates, services and funds "prime, non-conforming residential mortgages and asset finance products" in Australia and New Zealand.

The post Resimac (ASX:RMC) share price leaps 13% on share buyback. Here's what you need to know appeared first on The Motley Fool Australia.