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Swedbank AB: 1 director

A director at Swedbank AB bought 2,593 shares at 214.179SEK and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...

ABGSC Financials Research ... (+5)
  • ABGSC Financials Research
  • Albert Broock
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
Nicolas McBeath
  • Nicolas McBeath

Swedbank (Buy, TP: SEK257.00) - NII normalisation delayed

Q3 showed surprising NII resilience given the lower market rates, although this was partly due to timing effects (loans being repriced more slowly than deposits). We have raised our 2025–2026e EPS by c5%, and our target price to SEK257 (245). We expect NII to fall meaningfully and ROE to fall below the 15% target by 2025. Still, trading at 2025e EPS below 9x and with an appealing yield potential after the AML settlement, we see a good return outlook, and reiterate our BUY.

ABGSC Financials Research ... (+5)
  • ABGSC Financials Research
  • Albert Broock
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
ABGSC Financials Research ... (+5)
  • ABGSC Financials Research
  • Albert Broock
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
ABGSC Financials Research ... (+5)
  • ABGSC Financials Research
  • Albert Broock
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

All eyes on net interest income

Near-term NII and cost pressure, but value support and upside in capital repatriation. Focus on NII and cost outlook in the Q3 report.

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