Ann: Appendix 3B, page-5

A bit of both gut feel and simple PE ratio.

MyState is currently trading on PE ratio of nearly 14*. That's over the odds historically for the sector and 12* would still be a solid price IMO, 10* about the bottom of the range.

EPS is 34 cents. 12* that puts it at $4.08.

Also need to bear in mind that while MYS has a diversification and growth plan, at the end of the day it's still regionally concentrated in Tassie and when things go bad there they go deeply bad and for a long time too. I'm not writing off Tassie but one needs to factor the risk.

Gut feel tho also plays a part. The stock is widely held amongst retail investors as a result of the float a few years ago and mentality wise I'd expect them to sell if the price goes down. Also, I'd expect a bit more selling as the year ends.

IMO only, NAB looks a better bet than MYS at the moment and it's worth keeping an eye on CBA in case for price drops, both accumulation possibilities.