SHINSEI BANK (JP), a company active in the Money Center Banks industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 4 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date March 22, 2022, the closing price was JPY 2,318.00 and its expected value was estimated at...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We are reducing our fair value estimate for Shinsei Bank to JPY 1,700 per share from JPY 1,900 after reviewing the revised business rehabilitation plan for the bank operating company (nonconsolidated) submitted to the Financial Service Agency. Our revised assumption is slightly more pessimistic than the revised management assumption until the fiscal year ending March 2021. The new business rehabilitation plan lays out more pessimistic business prospects with few earning catalysts as management...
We maintain our fair value estimate for Shinsei Bank at JPY 1900 after reviewing the nine-month results, which contain many offsetting items. We do not think the shares offer value at current levels, because the market price is close to our fair value estimate and due to a lack of visibility into the strategic direction of the bank over the next few months. Overall, the results simply reflect the group’s more volatile earning fundamentals as a challenger bank. For the nine months ended Dec. 31...
We reduce our uncertainty rating to medium from high for Japanese banks under our coverage, following the Basel committee’s decision to finalize the regulatory capital requirements, or Basel IV. The lower uncertainty rating will increase our star rating for Mitsubishi UFJ Financial Group to 4 stars, with no other changes in our recommendations. The regulatory change will largely affect banks through an increase in risk-weighted assets through the output floor, with which banks’ risk weight...
We maintain our fair value estimate for Shinsei Bank at JPY 1900 after reviewing the first-half results, which were in line with our neutral expectation. For the six months ended Sept. 30, 2017, Shinsei reported little change in key metrics, as still-strong consumer loan growth managed to offset structural headwinds from lower-than-expected net interest margin and fee income expansion from retail banking. The results do not affect our no-moat rating with stable trend. The key focus will be aroun...
We maintain our fair value estimate for Shinsei Bank at JPY 1900 after reviewing the first-half results, which were in line with our neutral expectation. For the six months ended Sept. 30, 2017, Shinsei reported little change in key metrics, as still-strong consumer loan growth managed to offset structural headwinds from lower-than-expected net interest margin and fee income expansion from retail banking. The results do not affect our no-moat rating with stable trend. The key focus will be aroun...
We are increasing our fair value estimate for Shinsei Bank to JPY 190 per share from JPY 180 per share previously, representing a reasonable price/forward book value of 0.6 times and a price/forward earnings of 9.6 Â times. The assumption change mostly reflects reduced tax expenses with our estimated average cash tax rate decreasing to 3.5% during our five-year forecast horizon as its latest disclosure revealed that the scope of the net operating losses carryforward was larger than our prior est...
We reduce our fair value estimate for Shinsei Bank to JPY 180 per share from JPY 190 previously after incorporating revised management guidance on lower earnings and higher credit costs, which will lead to lower probability for future share buybacks than we previously assumed. Our fair value estimate represents a price/forward book value multiple of 0.6 times and price/forward earnings of 9.3 times, which still track about 10% above the average for Japanese banks, owing to Shinsei's slightly bet...
We revise our moat trend rating for Shinsei Bank to stable from negative, reflecting the bank’s lower earnings volatility and reduced government pressure to achieve given earnings targets. We also reduce our uncertainty rating to high from very high, as we have an increased level of confidence in the company’s earnings forecasts. We reaffirm our fair value estimate of JPY 190 per share, with our 3-star recommendation for the no-moat-rated bank. We previously raised our uncertainty rating to ...
We are raising our fair value estimate to JPY 190 per share from JPY 150 per share as above-industry consumer loan business growth is driving steady margin expansion at the bank. Our fair value estimate represents next fiscal year price/forward book value multiple of 0.6 times, which now tracks 0.1 times above the average for Japanese regional banks. We think the current price incorporates reasonable upside from the bank’s ability to maintain higher pricing power than its larger peers in a few...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
No-moat-rated Shinsei Bank reported its semiannual results below street estimates for the period ended Sept. 30. In line with our estimates, the results remain weak although the group saw some one-off trading profits from reducing its Japanese Government Bond, or JGB, Â holdings in its treasury division. The results do not impact our long-term views the bank remains under earning pressures to repay the government from an earlier capital injection. We maintain our fair value estimate of JPY 150 p...
No-moat-rated Shinsei Bank reported its semiannual results below street estimates for the period ended Sept. 30. In line with our estimates, the results remain weak although the group saw some one-off trading profits from reducing its Japanese Government Bond, or JGB, Â holdings in its treasury division. The results do not impact our long-term views the bank remains under earning pressures to repay the government from an earlier capital injection. We maintain our fair value estimate of JPY 150 p...
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