ASX 200 financial shares are outperforming the market on Wednesday as earnings season rolls on.
The S&P/ASX 200 Financials Index (ASX: XFJ) is up 0.51%, while the ASX 200 is down 0.55%.
These two ASX 200 financial shares hit new 52-week highs after the companies released their results.
Hub24 Ltd (ASX: HUB)
The Hub24 share price lifted 7.94% to a new 52-week high of $40.51 on Wednesday morning after the financial services provider reported its 1H FY24 results. Hub24 reported group underlying EBITDA of $55 million, up 10% on 1H FY23, and group underlying net profit after tax (NPAT) of $30.4 million, up 14%. The company declared an interim fully franked dividend of 18.5 cents per share to be paid on 16 April.
The ASX 200 financial share is currently trading for $39.51 per share, up 5.28%.
Netwealth Group Ltd (ASX: NWL)
Netwealth’s 1H FY24 results have also got ASX investors hitting the buy button today. The Netwealth share price also hit a new 52-week peak at $18.27, up 3.74%. This follows the financial services and technology company reporting a 27.2% bump to EBITDA at $58.8 million, with an EBITDA margin of 47.6%. Netwealth also reported NPAT of $39.3 million, an increase of 28.3% with a margin of 31.9%. The company will pay a 100% franked interim dividend of 14 cents per share on 28 March.
The ASX 200 financial share is currently trading for $18.15 per share, up 3.07%.
The post 2 ASX 200 financial shares hitting 52-week highs on earnings results appeared first on The Motley Fool Australia.
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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