Having already been hit by the fallout of the Royal Commission, the general December market dip, and now the effect of Covid-19 on market sentiment, it looks like Westpac shares *might* be a reasonable long-term buy:
"Westpac is down 1.9 per cent to $22.51, the lowest it has been since July 2012. However, this takes Westpac's price to earnings ratio down to 11.49 times earnings and a gross dividend yield of 11 per cent if it can maintain dividends, according to Bloomberg data. Overall the financial index is at a one-year low."
I have a tiny amount of NAB shares currently sitting in my Leveraged Equities Margin Loan account (left over due to a dividend reinvestment that got applied just after I'd sold my NAB holding), so buying some Westpac shares using some left over cash balance in my Comsec Margin Loan account might be a reasonable step at current prices.
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