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The latest update is out from Mystate Limited ( (AU:MYS) ).
MyState Limited, the non-operating holding company of MyState Bank and wealth manager TPT Wealth, operates in Australia’s retail banking and financial services sector with a focus on regulated, low-risk lending and deposit-taking. Its bank is supervised by APRA, and both MyState Bank and TPT Wealth hold Australian Financial Services Licences.
The company announced that Fitch Ratings has affirmed the issuer credit ratings of MyState Limited and MyState Bank Limited at BBB+/F2 with a Stable Outlook, reflecting strong asset quality and modest earnings volatility. Management said the maintained investment-grade ratings support the group’s wholesale funding programs and underline its capacity to pursue its growth strategy without a downgrade-related disruption to funding or market confidence.
The most recent analyst rating on (AU:MYS) stock is a Buy with a A$5.29 price target. To see the full list of analyst forecasts on Mystate Limited stock, see the AU:MYS Stock Forecast page.
More about Mystate Limited
MyState Limited is an ASX-listed diversified financial services holding company based in Hobart, overseeing MyState Bank and TPT Wealth. The group focuses on retail banking, including low-risk residential mortgages and deposit products, as well as trustee and wealth management services for Australian customers.
Average Trading Volume: 200,861
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$751.5M
Learn more about MYS stock on TipRanks’ Stock Analysis page.