After sorting out the data of Dongfang fortune choice, the reporter of Securities Daily found that, calculated by the closing price on July 24, the arithmetic average price to book ratio (PB) of 36 A-share listed banks was only 0.82 times. The stock prices of 28 listed banks had been in the net breaking state recently, while the price to book ratio of three listed banks was less than 1.1 times, and they were faced with the risk of net breaking at any time.
Societe Generale Banks biggest increase in Holdings
Since the beginning of this year, the total expenditure of directors, supervisors and senior executives of Industrial Bank has reached 27.4189 million yuan. According to the information from Shanghai Stock Exchange, in March, 11 directors, supervisors and senior executives of Industrial Bank jointly increased their holdings through the secondary market, totaling 1783700 shares, with an average trading price range of 15.03 yuan to 15.78 yuan per share, with a total investment of 27.3572 million yuan. In addition, there were directors of Societe Generale in July to spend 61700 yuan to increase their holdings of 3800 shares.
According to the exchange information, since this year, 11 senior executives of China Merchants Bank have increased their holdings by 597600 shares in a total of 19 times, with a total increase of 18.7367 million yuan. Among them, the directors, supervisors and senior executives of China Merchants Bank increased their holdings 14 times in March alone. During the period from March 10 to March 26, Liu Yuan, Shi Shunhua, Tian Huiyu, Liu Hui, Liu Jianjun, Li Delin and other directors, supervisors and senior executives of the bank increased their holdings by more than one million yuan, which were 2.8602 million yuan, 2.422 million yuan, 1.6482 million yuan, 1.5555 million yuan and 1.2452 million yuan, respectively, with the increase cost per share ranging from 30.03 yuan to 34.34 yuan.
As a supervisor and senior manager of China Merchants Bank, Liu Yuan increased the companys shares twice, with an accumulated increase of 2.8602 million yuan, making him the banks top executive with the largest amount of increase so far this year. Among them, on March 24, Liu Yuan increased his holding of 40000 shares with an average transaction price of 31.18 yuan / share, at a cost of 1247200 yuan, and the number of shares held after the change was 22000 shares; on March 25, Liu Yuan increased his holding of 50000 shares at the transaction price of 32.26 yuan / share, costing 1613000 yuan, and the number of shares held after the change reached 270000 shares.
Shanghai Pudong Development Bank announced in July that senior management of the company purchased A-share shares from the secondary market with their own funds from July 10 to 16, with the transaction price range of 11.26 yuan to 11.81 yuan per share. Five senior executives participated in the increase, which increased 314900 shares and invested 3.612 million yuan.
Securities companies are optimistic about the performance of the second half of the year
For the investment opportunities in the second half of the year, securities companies generally believe that the positive factors such as the better economy and strong policy support in the second half of the year will provide strong support for the bank stock valuation repair.
Wang Yifeng, chief analyst of Everbright Securities banking industry, said in an interview with Securities Daily that there is still a stable foundation for the growth of banking revenue in the second half of the year, and the scale growth will maintain a high level. The monetary policy of targeted and accurate drip irrigation will drive down the interest rate of deposits and loans, and the overall quality of assets will be stable, and the disposal and write off of problematic assets will continue to increase.
Dong Chunxiao, an analyst at Pacific Securities, said that the overall industry valuation of banking stocks is still at a low level in recent years. In addition to valuation advantages, the fundamentals of listed banks also provide strong support for market performance. The continuous improvement of corporate profitability and the gradual return of macro-economy will improve the asset quality of banks and reduce the potential risk of non-performing assets. Dong Chunxiao believes that with the stabilization of the real economy, the pessimistic expectation of the banking industry will be restored, and the upward elasticity of the plate is sufficient, which is still worth the over matching.
Guo Qiwei, an analyst at Minsheng securities, said that the second half of the year could be more positive and optimistic about bank stocks, and the appreciation of bank stocks was just at the beginning. Good fundamentals, policies and funds will emerge one after another, which will promote the in-depth development of bank stock market. Compared with other sectors, bank stocks are undervalued, high dividend characteristics, both offensive and defensive dual attributes, optimistic about the investment return space of bank stocks in the second half of the year.
Source of this article: Yang Qian, editor in charge of Securities Daily_ NF4425