0322 GMT - National Australia Bank is likely to cut its dividend two years from now, Macquarie analysts warn. They still see NAB as "the better horse in a slow race" between bank stocks, but tell clients in a note that limited inorganic capital generation and only 30 basis points of surplus capital lead them to predict a cut in the first half of the 2027 fiscal year. They think that NAB's margins will hold up better than those of its rivals amid lower interest rates, and see early signs of progress as NAB focuses on deposit growth and stability in proprietary mortgages. Macquarie keeps a neutral rating and A$35.00 target price on the stock, which is up 1.6% at A$36.45. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 07, 2025 23:22 ET (03:22 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.