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<Research>BofAS Cuts BANKCOMM's TP to HKD6.75 w/ Rating Kept Neutral
Recommend 2 Positive 5 Negative 1 |
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According to a report from BofA Securities, BANKCOMM (03328.HK) recorded a growth of 2.2% YoY in net profit to RMB95.6 billion last year, 0.6% lower than the broker's expectations. The bank's profit before provisions increased by 1.6% YoY, 0.4% higher than expected. Return on equity fell by 0.7 ppts YoY to 8.4%. Affected by capital dilution, the payout ratio decreased to 32.3% YoY, and the full-year dividend per share was RMB0.325, down 14.3% YoY. The dividend yield, however, remained stable at 5.3%. BofA Securities has kept a Neutral rating on BANKCOMM and cut its target price from HKD7.09 to HKD6.75. AAStocks Financial News |
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