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CHINA MINSHENG

Founded in 1996, China Minsheng Banking Corp. is one of the first privately owned commercial banks in China, with headquarters in Beijing. Its shares listed on the Shanghai Exchange and the Hong Kong Exchange in 2000 and 2009, respectively. CMBC positions itself as a bank for non-state-owned enterprises, micro- and small enterprises, and high-end retail customers. The bank has a diversified shareholding structure, with over 23,000 banking outlets in 125 cities in China.

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CHINA MINSHNG BK UNSP/ADR by China Minsheng Banking Corp., Ltd.

China Minsheng Banking Corp Ltd

The U.S. banking industry faces the most formidable challenge since the global financial crisis in 2008. Therefore, it could be wise to buy fundamentally strong foreign bank stocks China Minsheng Banking (CMAKY), Commerzbank (CRZBY), and Banco Macro (BMA). Keep reading… The failures of the Silicon Valley Bank and Signature Bank in March, followed by the recent failure of the First Republic Bank, have caused an upheaval in the U.S. banking industry. The First Republic Bank became the second-largest bank failure in U.S. history.
Although Federal regulators have assured that the banking system is safe, investors remain jittery about the viability of the U.S. banking system. Amid this backdrop, it could be wise to look beyond borders and invest in fundamentally strong foreign bank stocks China Minsheng Banking Corp., Ltd. (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>), Commerzbank AG (<a href="https://stocknews.com/stock/CRZBY/">CRZBY</a>), and Banco Macro S.A. (<a href="https://stocknews.com/stock/BMA/">BMA</a>).
Before diving deeper into the fundamentals of these stocks, let's discuss what's happening in the U.S. banking industry and why it could be prudent to buy foreign bank stocks.
During the first quarter, more than two dozen U.S. banks faced <a href="https://www.spglobal.com/marketintelligence/en/news-insights/blog/insight-weekly-may-9-2023">more than 5%</a> deposit declines. The bank failures have seen an outflow of deposits from smaller banks to the ‘too-big-to-fail' banks. The U.S. Treasury Department has stated that the banking system has substantial liquidity and stable deposit flows.
Despite the statement, investors remain concerned about the banking system's stability as Los Angeles-based regional bank PacWest Bancorp (<a href="https://stocknews.com/stock/PACW/">PACW</a>) confirmed it was exploring strategic options, <a href="https://www.reuters.com/markets/deals/pacwest-is-weighing-strategic-options-including-possible-sale-bloomberg-news-2023-05-03/">including a sale</a>. Banks must now offer higher interest rates on savings accounts to retain customers. This, in turn, will raise their cost of funds.
Banks are also facing competition from money market funds as depositors put their deposits into these funds for higher yields. Money market funds are attractive for investors as they offer yields upwards of 4.6% compared to the sub-1% yield offered by banks. For the week ended May 3, 2023, <a href="https://www.ici.org/research/stats/mmf">total money market funds assets were $5.31 trillion</a>, increasing by $47.15 billion.
In the wake of the banking crisis, U.S. banks are also increasingly likely to face several regulatory challenges like increased capital requirements, heightened supervision, stricter risk management, increased disclosure, etc. Tighter credit standards are also expected to lead to an increase in their operational costs and reduce their lending volumes, piling further pressure on their profitability.
Moody's <a href="https://www.cnbc.com/2023/03/14/moodys-cuts-outlook-on-us-banking-system-to-negative-citing-rapidly-deteriorating-operating-environment.html">cut the outlook on the U.S. banking system to Negative from Stable</a>, citing a rapidly deteriorating operating environment. Considering these factors, buying the featured foreign bank stocks could be prudent as they will likely benefit from the higher interest rates and the growth in the economies they operate in.
Let's discuss their fundamentals in detail.
China Minsheng Banking Corp., Ltd. (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>)
Headquartered in Beijing, China, CMAKY provides various financial products and services to individuals, small and micro-enterprises, corporate customers, government agencies, and financial institutions. The company operates through Corporate Banking, Retail Banking, and Others segments.
In terms of trailing-12-month Price/Book, CMAKY's 0.30x is 67.8% lower than the 0.94x industry average. Its 1.34x forward Price/Sales is 29.4% lower than the 1.90x industry average. Likewise, its 5.70x trailing-12-month GAAP P/E is 33% lower than the 8.52x industry average.
CMAKY's total non-performing loans (NPLs) for the first quarter ended March 31, 2023, came in at RMB69.27 billion ($9.99 billion), compared to RMB69.39 billion ($10.01 billion) for the fiscal year ended December 31, 2022. Its total loans and advances to customers came in at RMB4.34 trillion ($626.30 billion), compared to RMB4.14 trillion ($597.44 billion) for the fiscal year ended December 31, 2022.
Its operating income increased 0.4% year-over-year to RMB36.77 billion ($5.31 billion). In addition, its net profit attributable to shareholders of the Bank, excluding extraordinary gain/loss items, increased 4.3% year-over-year to RMB14.27 billion ($2.06 billion). Also, its EPS came in at RMB0.33, representing an increase of 6.5% year-over-year.
Analysts expect CMAKY's revenue for fiscal 2024 to increase 11.5% year-over-year to $21.89 billion. Over the past nine months, the stock has gained 34.2% to close the last trading session at $4.12.
CMAKY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. CMAKY has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #6 out of 88 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry. It has an A grade for Stability and a B for Value and Momentum. <a href="https://stocknews.com/stock/CMAKY/">Click here</a> to see the other ratings of CMAKY for Growth, Sentiment, and Quality.
Commerzbank AG (<a href="https://stocknews.com/stock/CRZBY/">CRZBY</a>)
CRZBY provides banking and capital market products and services to private and small business customers, corporate groups, financial service providers, and institutional clients in Germany and internationally. It operates through two segments, Private and Small-Business Customers, and Corporate Clients. CRZBY is based in Frankfurt am Main, Germany.
In terms of trailing-12-month Price/Book, CRZBY's 0.42x is 55.3% lower than the 0.94x industry average. Its 1.32x forward Price/Sales is 30.6% lower than the 1.90x industry average. Likewise, its 0.03x trailing-12-month GAAP PEG is 92.3% lower than the 0.40x industry average.
For the fourth quarter ended December 31, 2022, CRZBY's net interest income increased 50.7% year-over-year to €1.96 billion ($2.15 billion). Its total revenues rose 12.7% over the prior-year quarter to €2.36 billion ($2.59 billion). The company's operating profit increased 274.5% year-over-year to €528 million ($579.30 million). Also, its consolidated profit increased 12.1% year-over-year to €472 million ($517.86 million).
For the quarter ended March 31, 2023, CRZBY's revenue increased 0.6% year-over-year to $2.92 billion. Over the past year, the stock has gained 68.2% to close the last trading session at $10.85.
CRZBY's POWR Ratings reflect solid prospects. It has an overall rating of B, which translates to Buy in our proprietary rating system.
Within the same industry, it is ranked #5. It has an A grade for Growth and a B for Momentum and Sentiment. To see the other ratings of Value, Stability, and Quality, <a href="https://stocknews.com/stock/CRZBY/">click here</a>.
Banco Macro S.A. (<a href="https://stocknews.com/stock/BMA/">BMA</a>)
Headquartered in Buenos Aires, Argentina, BMA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, utility payments, and money transfers.
In terms of forward Price/Book, BMA's 0.58x is 34.7% lower than the 0.88x industry average. Its 0.90x forward Price/Sales is 52.5% lower than the 1.90x industry average. Likewise, its 4.18x trailing-12-month non-GAAP P/E is 48.4% lower than the 8.09x industry average.
BMA's net income for the fourth quarter ended December 31, 2022, came in at ARS16.60 billion ($72.71 million). Its operating income rose 79% year-over-year to ARS78.20 billion ($342.55 million). The company's annualized return on average equity (ROAE) and annualized return on average assets (ROAA) came in at 16.9% and 3.3%, respectively. Also, its total deposits increased 13% year-over-year to ARS148.40 billion ($649.37 million).
Analysts expect BMA's EPS for the quarter ended June 30, 2023, to increase 36.2% year-over-year to $0.71. Its revenue for fiscal 2023 is expected to increase 34.7% year-over-year to $2.57 billion. Over the past nine months, the stock has gained 46.4% to close the last trading session at $18.31.
BMA's POWR Ratings reflect this positive outlook. It has an overall rating of B, which translates to Buy in our proprietary rating system.
It is ranked #4 in the Foreign Banks industry. It has an A grade for Value and a B for Growth, Momentum, and Quality. <a href="https://stocknews.com/stock/BMA/">Click here</a> to see the other ratings of BMA for Stability and Sentiment.
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CMAKY shares were unchanged in premarket trading Thursday. Year-to-date, CMAKY has gained 10.75%, versus a 8.43% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Dipanjan Banchur</h2> <img src='https:/wp-content/uploads/2021/11/Dipanjan-Banchur_headshots_3.jpg' style="float:left; padding:5px;width:125px;">Since he was in grade school, Dipanjan was interested in the stock market. This led to him obtaining a master's degree in Finance and Accounting. Currently, as an investment analyst and financial journalist, Dipanjan has a strong interest in reading and analyzing emerging trends in financial markets.<a href="https://stocknews.com/authors/?author=dipanjan-banchur">More...</a>The post <a href=https://stocknews.com/news/cmaky-crzby-bma-pacw-3-foreign-bank-stocks-to-consider-amid-u-s-banking-turmoil/>3 Foreign Bank Stocks to Consider Amid U.S. Banking Turmoil</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Foreign Bank Stocks to Consider Amid U.S. Banking Turmoil

Despite assurances by the Federal regulators, investors and depositors are still wary about the banking sector's health. Given the U.S. banking system's current headwinds, investors could look beyond boundaries. To that end, it could be wise to buy fundamentally strong foreign bank stocks China Minsheng Banking (CMAKY), KB Financial Group (KB), and Banco Macro (BMA). Keep reading... Following the collapse of three U.S. banks, investors' confidence in the banking sector has taken a hit. Concerns over the banking system remain despite assurances by the financial regulators.
Amid the sharp sell-off in U.S. banking names, investors could look beyond geographical borders by buying fundamentally strong foreign banking stocks China Minsheng Banking Corp., Ltd (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>), KB Financial Group Inc. (<a href="https://stocknews.com/stock/KB/">KB</a>), and Banco Macro S.A. (<a href="https://stocknews.com/stock/BMA/">BMA</a>).
Before diving deeper into the fundamentals of these stocks, let's discuss what's happening in the banking industry and why it could be wise to buy foreign bank stocks.
The collapse of the First Republic Bank came just weeks after the failures of Silicon Valley Bank and Signature Bank. Concerns over the safety of their deposits caused depositors to take their money out of these banks, leading to a bank run. The failures have caused an upheaval in the banking industry.
Although financial regulators and executives from top financial institutions have assured that the banking sector is safe, concerns over its stability remain, especially after regional bank PacWest Bancorp (<a href="https://stocknews.com/stock/PACW/">PACW</a>) confirmed it was exploring strategic options, <a href="https://www.reuters.com/markets/deals/pacwest-is-weighing-strategic-options-including-possible-sale-bloomberg-news-2023-05-03/">including a sale</a>. The bank reported that its deposits had declined by 9.5% for the week ended May 5, 2023.
Due to the bank failures, U.S. banks must contend further with tighter lending norms. This could put a strain on their profit margins in the upcoming quarters. Moody's has <a href="https://www.cnbc.com/2023/03/14/moodys-cuts-outlook-on-us-banking-system-to-negative-citing-rapidly-deteriorating-operating-environment.html">cut the outlook on the U.S. banking system to Negative from Stable</a>, citing a rapidly deteriorating operating environment.
Given these factors, investors could consider buying the featured foreign banking names.
Let's take a closer look at their fundamentals.
China Minsheng Banking Corp., Ltd (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>)
Headquartered in Beijing, the People's Republic of China, CMAKY provides various financial products and services to individuals, small and micro-enterprises, corporate customers, government agencies, and financial institutions. The company operates through Corporate Banking, Retail Banking, and Others segments.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/n/net_margin.asp">net income margin</a>, CMAKY's 37.77% is 46.4% higher than the 25.80% industry average. Likewise, its 12.60% trailing-12-month CAPEX/Sales is 561.4% higher than the industry average of 1.91%.
Its operating income for the first quarter ended March 31, 2023, increased 0.4% year-over-year to RMB36.77 billion ($5.27 billion). In addition, its net profit attributable to shareholders of the Bank, excluding extraordinary gain/loss items, increased 4.3% year-over-year to RMB14.27 billion ($2.05 billion). Also, its EPS came in at RMB0.33, representing a 6.5% increase over the prior-year quarter.
Its total non-performing loans (NPLs) came in at RMB69.27 billion ($9.94 billion), compared to RMB69.39 billion ($9.96 billion) for the fiscal year ended December 31, 2022.
CMAKY's revenue for fiscal 2024 is expected to increase 9.7% year-over-year to $21.66 million. Over the past six months, the stock has gained 34.1% to close the last trading session at $4.12.
CMAKY's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #12 out of 88 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry. In addition, it has an A grade for Stability and a B for Value. We have also given CMAKY grades for Growth, Momentum, Sentiment, and Quality. Get all the CMAKY ratings <a href="https://stocknews.com/stock/CMAKY/">here</a>.
KB Financial Group Inc. (<a href="https://stocknews.com/stock/KB/">KB</a>)
Headquartered in Seoul, South Korea, KB provides a range of banking and related financial services to consumers and corporations worldwide. The company operates through seven segments: Retail Banking, Corporate Banking, Other Banking, Credit Card, Securities, Life Insurance, and Non-Life Insurance.
In terms of the trailing-12-month net income margin, KB's 33.44% is 29.6% higher than the 25.80% industry average. Likewise, its 2.32% trailing-12-month CAPEX/Sales is 21.8% higher than the industry average of 1.91%.
KB's net interest income for the first quarter ended March 31, 2023, increased 5.1% year-over-year to KRW2.78 trillion ($2.07 billion). Its net operating profit increased 11.2% year-over-year to KRW2.13 trillion ($1.59 billion). The company's profit attributable to shareholders of the parent company increased 2.5% year-over-year to KRW1.50 trillion ($1.12 billion).
Analysts expect KB's EPS for the quarter ending September 30, 2023, to increase 20.3% year-over-year to $2.61. Its revenue for the quarter ending June 30, 2023, is expected to increase 2.7% year-over-year to $2.89 billion. Over the past month, the stock has declined 0.9% to close the last trading session at $36.73.
KB's POWR Ratings reflect solid prospects. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. It is ranked #6 in the same industry. The stock has a B grade for Value.
To see the additional POWR Ratings of KB for Growth, Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/KB/">click here</a>.
Banco Macro S.A. (<a href="https://stocknews.com/stock/BMA/">BMA</a>)
Headquartered in Buenos Aires, Argentina, BMA provides various banking products and services to retail and corporate customers. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.
In terms of the trailing-12-month Return on Total Assets, BMA's 1.95% is 73.8% higher than the 1.12% industry average. Likewise, its 4.92% trailing-12-month CAPEX/Sales is 158.1% higher than the industry average of 1.91%.
BMA's net income for the fourth quarter ended December 31, 2022, came in at $16.61 billion ($71.94 million). Its operating income rose 79% year-over-year to ARS78.20 billion ($338.71 million).
The company's annualized return on average equity (ROAE) and annualized return on average assets (ROAA) came in at 16.9% and 3.3%, respectively. Also, its total deposits increased 13% year-over-year to ARS148.40 billion ($642.78 million).
Street expects BMA's EPS and revenue for fiscal 2023 to increase 53.4% and 34.7% year-over-year to $5.83 and $2.57 billion, respectively. Over the past six months, the stock has gained 30.7% to close the last trading session at $17.12.
BMA's positive outlook is reflected in its POWR Ratings. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
It is ranked #13 in the Foreign Banks industry. It has an A grade for Value. <a href="https://stocknews.com/stock/BMA/">Click here</a> to see the other ratings of BMA for Growth, Momentum, Stability, Sentiment, and Quality.
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CMAKY shares were trading at $4.12 per share on Wednesday afternoon, up $0.18 (+4.57%). Year-to-date, CMAKY has gained 10.75%, versus a 8.28% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Malaika Alphonsus</h2> <img src='https:/wp-content/uploads/2022/11/Malaika-Alphonsus_Headshot-1.png' style="float:left; padding:5px;width:125px;">Malaika's passion for writing and interest in financial markets led her to pursue a career in investment research.

With a degree in Economics and Psychology, she intends to assist investors in making informed investment decisions.<a href="https://stocknews.com/authors/?author=malaika-alphonsus">More...</a>The post <a href=https://stocknews.com/news/cmaky-kb-bma-pacw-3-bank-stocks-to-take-advantage-of-today/>3 Bank Stocks to Take Advantage of Today</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Bank Stocks to Take Advantage of Today

The U.S. banking sector has been under immense pressure following the collapses of three major regional banks. With the bank turmoil far from over, it could be wise to add fundamentally sound foreign bank stocks China Minsheng (CMAKY) and Grupo Financiero (GGAL) to your watchlist this week, which are positioned to benefit from higher interest rates worldwide. Conversely, struggling Banco (BSAC) should be best avoided now. Read on… The collapses of the Silicon Valley Bank and Signature Bank in March, followed by the failure of the First Republic Bank in April, the second-biggest bank collapse in U.S. history, have caused a sudden loss of confidence in the U.S. banking system, prompting bank runs and forcing the government to offer extra support to the system.
With the U.S. banking crisis far from over, investors could consider adding quality foreign bank stocks China Minsheng Banking Corp., Ltd. (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>) and Grupo Financiero Galicia S.A. (<a href="https://stocknews.com/stock/GGAL/">GGAL</a>) to their watchlist this week. However, it seems wise to steer clear of the fundamentally weak stock, Banco Santander-Chile (<a href="https://stocknews.com/stock/BSAC/">BSAC</a>), now.
Before delving deeper into the fundamentals of these stocks, let's discuss what's happening in the U.S. banking sector and why it could be wise to invest in foreign bank stocks instead.
The U.S. banking crisis commenced in March, mainly due to multiple interest rate hikes made by the Federal Reserve over the past year to control inflation and growing recession worries. A total of <a href="https://commercialobserver.com/2023/05/bank-branches-closing-regional/">three regional U.S. banks</a>, including Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank, faced closure between March and April this year.
These bank failures were the biggest to hit the nation since the 2008 financial crisis. Investors withdrew their deposits in a panic, causing a bank run. As a result, high-yielding money-market funds have attracted a significant influx of cash lately. For the week ended June 7, 2023, total money market fund assets increased by <a href="https://www.ici.org/research/stats/mmf">$36.63 billion to $5.46 trillion</a>, the Investment Company Institute reported.
Furthermore, according to JPMorgan Chase CEO Jamie Dimon, the stress on the banking sector caused by recent bank failures <a href="https://www.cbsnews.com/news/jamie-dimon-jpmorgan-chase-ceo-shareholder-letter-banking-crisis/">is still a threat</a> and could affect the financial system for "years to come." In his annual shareholder letter, Dimon wrote, "Most of the risks were hiding in plain sight," citing interest rate exposure and the potential losses from held-to-maturity bonds.
Dimon added, "The unknown risk was that SVB's over 35,000 corporate clients — and activity within them — were controlled by a small number of venture capital companies and moved their deposits in lockstep." He cautioned against a heavy-handed regulatory response to the bank collapses.
Against this backdrop, investors could consider adding quality foreign bank stocks CMACY and GGAL to their watchlist as they will likely benefit from the rising interest rate environment. On the contrary, avoiding fundamentally weak stock BSAC could be wise now.
Stocks To Watch:
China Minsheng Banking Corp., Ltd. (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>)
Headquartered in Beijing, China, CMAKY provides several financial products and services to individuals, small and micro-enterprises, corporate customers, government agencies, and financial institutions. The company operates through three segments: Corporate Banking; Retail Banking; and Others.
In terms of trailing-12-month P/E, CMAKY's 5.32x is 43.6% lower than the 9.43x industry average. The stock's 1.77x trailing-12-month Price/Sales is 23.8% lower than the 2.33x industry average. In addition, its 0.68x trailing-12-month Price/Cash Flow is 89.2% lower than the 6.28x industry average.
For the first quarter that ended March 31, 2023, CMAKY's <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> increased marginally year-over-year to RMB36.77 billion ($5.15 billion). Its net profit attributable to shareholders of the Bank, excluding extraordinary gain/loss items, grew 4.3% from the year-ago value to RMB14.27 billion ($2 billion). Also, the company's EPS was RMB0.33, up 6.5% year-over-year.
In addition, CMAKY's cash inflows from operating activities came in at RMB225.97 billion ($31.68 billion), an increase of 58.9% year-over-year. As of March 31, 2023, its total assets were RMB7.60 trillion ($1.07 trillion), compared to RMB7.26 trillion ($1.02 trillion) as of December 31, 2022.
Analysts expect CMAKY's revenue for the fiscal year 2024 to increase 5.6% year-over-year to $21.23 billion. Over the past six months, the stock has gained 22.8% to close the last trading session at $4.10.
CMAKY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
CMAKY has an A grade for Stability and a B for Value and Momentum. It is ranked #16 out of 88 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry.
<a href="https://stocknews.com/stock/CMAKY/">Click here</a> to see the other ratings of CMAKY for Growth, Sentiment, and Quality.
Grupo Financiero Galicia S.A. (<a href="https://stocknews.com/stock/GGAL/">GGAL</a>)
Based in Buenos Aires, Argentina, GGAL is a financial service holding company that offers various financial products and services to individuals and companies. The company operates through Banks, NaranjaX, insurance, and Other Businesses segments. It provides personal loans, express, and mortgage loans; credit and debit cards; and other online banking services.
In the first quarter that ended March 31, 2023, GGAL's net operating income increased 30.5% year-over-year to Ps.186.32 billion ($760.65 million), primarily due to a higher net interest income. The company reported a net income of Ps.15.03 billion ($61.36 million), an increase of 55% from the same quarter of 2022, and represented an annualized ROE of 10,14% and a ROA of 1.80%.
Furthermore, the company's average earning assets reached Ps.2.23 trillion ($9.10 billion), up 5.4% compared to the first quarter of 2022. The increase was mainly due to a rise in the volume of government securities for Ps.283.27 billion ($1.16 billion) or 38% year-over-year.
In terms of forward non-GAAP P/E, GGAL is trading at 4.07x, 55.2% lower than the industry average of 9.08x. And the stock's forward Price/Sales multiple of 1.14 is 49.4% lower than the industry average of 2.25. Likewise, its forward Price/Cash Flow of 1.07x is 83% lower than the 6.28x industry average.
The consensus EPS estimate of $3.64 for the fiscal year (ending December 2023) reflects a 15.4% year-over-year improvement. In addition, GGAL's revenue for the ongoing year is expected to grow 183.6% year-over-year to $3.82 billion.
Over the past six months, shares of GGAL have gained 99.1% and 87.2% over the past year to close the last trading day at $14.81.
GGAL's strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, equating to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Value, and Momentum. In the same industry, GGAL is ranked #14 of 88 stocks.
Beyond what I have stated above, we have also given GGAL grades for Quality, Stability, and Sentiment. Get all GGAL ratings <a href="https://stocknews.com/stock/GGAL/">here</a>.
Stock to Sell:
Banco Santander-Chile (<a href="https://stocknews.com/stock/BSAC/">BSAC</a>)
Headquartered in Santiago, Chile, BSAC provides commercial and retail banking products and services. It operates through segments, including Retail Banking; Middle-Market; Corporate Investment Banking; and Corporate Activities. It offers debit and credit cards and savings products; consumer, commercial, and government-guaranteed loans; and mortgage financial services.
In terms of forward non-GAAP P/E, BSAC is trading at 10.68x, 17.6% higher than the industry average of 9.08x. Likewise, the stock's forward Price/Sales and Price/Book multiples of 3.03 and 1.90 compare unfavorably with the industry averages of 2.25 and 0.99, respectively.
During the first quarter that ended March 31, 2023, BSAC's operating income decreased 16% year-over-year to Ch$ 489.20 billion ($620.03 million). Its consolidated profit for the period was Ch$139.79 billion ($177.17 million), down 41.7% year-over-year. Also, EPS attributable to equity holders of the Bank declined by 42.4% from the year-ago value to Ch$0.72.
Furthermore, cash inflows from operating activities were Ch$664.42 billion ($842.11 million), a decline of 39.3% from the prior quarter in 2022. Also, cash outflows from investment activities came in at Ch$13 billion ($16.48 million), up 76.6% year-over-year.
Analysts expect BSAC's revenue for the second quarter (ending June 2023) to decline 3.6% year-over-year to $713.86 million. The company's EPS for the same period is expected to decrease 47.7% year-over-year to $0.38. In addition, it has failed to surpass the consensus revenue and EPS estimates in three of the trailing four quarters, which is disappointing.
Over the past month, BSAC has plunged 3.3% to close the last trading session at $18.94.
BSAC's POWR Ratings are consistent with this bleak outlook. The stock has an overall rating of D, translating to a Sell in our proprietary rating system.
BSAC has a D grade for Value and Sentiment. It is ranked #85 of 88 stocks in the Foreign Banks industry.
To see BSAC's POWR Ratings for Growth, Stability, Quality, and Momentum, <a href="https://stocknews.com/stock/BSAC/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>
<hr />
CMAKY shares were unchanged in premarket trading Monday. Year-to-date, CMAKY has gained 10.22%, versus a 12.84% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/cmaky-bsac-ggal-2-bank-stocks-to-watch-this-week-1-to-sell/>2 Bank Stocks to Watch This Week, 1 to Sell</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

2 Bank Stocks to Watch This Week, 1 to Sell

The U.S. banking sector has been under immense pressure following the collapses of three major regional banks. With the bank turmoil far from over, it could be wise to add fundamentally sound foreign bank stocks China Minsheng (CMAKY) and Grupo Financiero (GGAL) to your watchlist this week, which are positioned to benefit from higher interest rates worldwide. Conversely, struggling Banco (BSAC) should be best avoided now. Read on… The collapses of the Silicon Valley Bank and Signature Bank in March, followed by the failure of the First Republic Bank in April, the second-biggest bank collapse in U.S. history, have caused a sudden loss of confidence in the U.S. banking system, prompting bank runs and forcing the government to offer extra support to the system.
With the U.S. banking crisis far from over, investors could consider adding quality foreign bank stocks China Minsheng Banking Corp., Ltd. (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>) and Grupo Financiero Galicia S.A. (<a href="https://stocknews.com/stock/GGAL/">GGAL</a>) to their watchlist this week. However, it seems wise to steer clear of the fundamentally weak stock, Banco Santander-Chile (<a href="https://stocknews.com/stock/BSAC/">BSAC</a>), now.
Before delving deeper into the fundamentals of these stocks, let's discuss what's happening in the U.S. banking sector and why it could be wise to invest in foreign bank stocks instead.
The U.S. banking crisis commenced in March, mainly due to multiple interest rate hikes made by the Federal Reserve over the past year to control inflation and growing recession worries. A total of <a href="https://commercialobserver.com/2023/05/bank-branches-closing-regional/">three regional U.S. banks</a>, including Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank, faced closure between March and April this year.
These bank failures were the biggest to hit the nation since the 2008 financial crisis. Investors withdrew their deposits in a panic, causing a bank run. As a result, high-yielding money-market funds have attracted a significant influx of cash lately. For the week ended June 7, 2023, total money market fund assets increased by <a href="https://www.ici.org/research/stats/mmf">$36.63 billion to $5.46 trillion</a>, the Investment Company Institute reported.
Furthermore, according to JPMorgan Chase CEO Jamie Dimon, the stress on the banking sector caused by recent bank failures <a href="https://www.cbsnews.com/news/jamie-dimon-jpmorgan-chase-ceo-shareholder-letter-banking-crisis/">is still a threat</a> and could affect the financial system for "years to come." In his annual shareholder letter, Dimon wrote, "Most of the risks were hiding in plain sight," citing interest rate exposure and the potential losses from held-to-maturity bonds.
Dimon added, "The unknown risk was that SVB's over 35,000 corporate clients — and activity within them — were controlled by a small number of venture capital companies and moved their deposits in lockstep." He cautioned against a heavy-handed regulatory response to the bank collapses.
Against this backdrop, investors could consider adding quality foreign bank stocks CMACY and GGAL to their watchlist as they will likely benefit from the rising interest rate environment. On the contrary, avoiding fundamentally weak stock BSAC could be wise now.
Stocks to Watch:
China Minsheng Banking Corp., Ltd. (<a href="https://stocknews.com/stock/CMAKY/">CMAKY</a>)
Headquartered in Beijing, China, CMAKY provides several financial products and services to individuals, small and micro-enterprises, corporate customers, government agencies, and financial institutions. The company operates through three segments: Corporate Banking; Retail Banking; and Others.
In terms of trailing-12-month P/E, CMAKY's 5.32x is 43.6% lower than the 9.43x industry average. The stock's 1.77x trailing-12-month Price/Sales is 23.8% lower than the 2.33x industry average. In addition, its 0.68x trailing-12-month Price/Cash Flow is 89.2% lower than the 6.28x industry average.
For the first quarter that ended March 31, 2023, CMAKY's <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> increased marginally year-over-year to RMB36.77 billion ($5.15 billion). Its net profit attributable to shareholders of the Bank, excluding extraordinary gain/loss items, grew 4.3% from the year-ago value to RMB14.27 billion ($2 billion). Also, the company's EPS was RMB0.33, up 6.5% year-over-year.
In addition, CMAKY's cash inflows from operating activities came in at RMB225.97 billion ($31.68 billion), an increase of 58.9% year-over-year. As of March 31, 2023, its total assets were RMB7.60 trillion ($1.07 trillion), compared to RMB7.26 trillion ($1.02 trillion) as of December 31, 2022.
Analysts expect CMAKY's revenue for the fiscal year 2024 to increase 5.6% year-over-year to $21.23 billion. Over the past six months, the stock has gained 22.8% to close the last trading session at $4.10.
CMAKY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
CMAKY has an A grade for Stability and a B for Value and Momentum. It is ranked #16 out of 88 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry.
<a href="https://stocknews.com/stock/CMAKY/">Click here</a> to see the other ratings of CMAKY for Growth, Sentiment, and Quality.
Grupo Financiero Galicia S.A. (<a href="https://stocknews.com/stock/GGAL/">GGAL</a>)
Based in Buenos Aires, Argentina, GGAL is a financial service holding company that offers various financial products and services to individuals and companies. The company operates through Banks, NaranjaX, insurance, and Other Businesses segments. It provides personal loans, express, and mortgage loans; credit and debit cards; and other online banking services.
In the first quarter that ended March 31, 2023, GGAL's net operating income increased 30.5% year-over-year to Ps.186.32 billion ($760.65 million), primarily due to a higher net interest income. The company reported a net income of Ps.15.03 billion ($61.36 million), an increase of 55% from the same quarter of 2022, and represented an annualized ROE of 10,14% and a ROA of 1.80%.
Furthermore, the company's average earning assets reached Ps.2.23 trillion ($9.10 billion), up 5.4% compared to the first quarter of 2022. The increase was mainly due to a rise in the volume of government securities for Ps.283.27 billion ($1.16 billion) or 38% year-over-year.
In terms of forward non-GAAP P/E, GGAL is trading at 4.07x, 55.2% lower than the industry average of 9.08x. And the stock's forward Price/Sales multiple of 1.14 is 49.4% lower than the industry average of 2.25. Likewise, its forward Price/Cash Flow of 1.07x is 83% lower than the 6.28x industry average.
The consensus EPS estimate of $3.64 for the fiscal year (ending December 2023) reflects a 15.4% year-over-year improvement. In addition, GGAL's revenue for the ongoing year is expected to grow 183.6% year-over-year to $3.82 billion.
Over the past six months, shares of GGAL have gained 99.1% and 87.2% over the past year to close the last trading day at $14.81.
GGAL's strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, equating to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Value, and Momentum. In the same industry, GGAL is ranked #14 of 88 stocks.
Beyond what I have stated above, we have also given GGAL grades for Quality, Stability, and Sentiment. Get all GGAL ratings <a href="https://stocknews.com/stock/GGAL/">here</a>.
Stock to Sell:
Banco Santander-Chile (<a href="https://stocknews.com/stock/BSAC/">BSAC</a>)
Headquartered in Santiago, Chile, BSAC provides commercial and retail banking products and services. It operates through segments, including Retail Banking; Middle-Market; Corporate Investment Banking; and Corporate Activities. It offers debit and credit cards and savings products; consumer, commercial, and government-guaranteed loans; and mortgage financial services.
In terms of forward non-GAAP P/E, BSAC is trading at 10.68x, 17.6% higher than the industry average of 9.08x. Likewise, the stock's forward Price/Sales and Price/Book multiples of 3.03 and 1.90 compare unfavorably with the industry averages of 2.25 and 0.99, respectively.
During the first quarter that ended March 31, 2023, BSAC's operating income decreased 16% year-over-year to Ch$ 489.20 billion ($620.03 million). Its consolidated profit for the period was Ch$139.79 billion ($177.17 million), down 41.7% year-over-year. Also, EPS attributable to equity holders of the Bank declined by 42.4% from the year-ago value to Ch$0.72.
Furthermore, cash inflows from operating activities were Ch$664.42 billion ($842.11 million), a decline of 39.3% from the prior quarter in 2022. Also, cash outflows from investment activities came in at Ch$13 billion ($16.48 million), up 76.6% year-over-year.
Analysts expect BSAC's revenue for the second quarter (ending June 2023) to decline 3.6% year-over-year to $713.86 million. The company's EPS for the same period is expected to decrease 47.7% year-over-year to $0.38. In addition, it has failed to surpass the consensus revenue and EPS estimates in three of the trailing four quarters, which is disappointing.
Over the past month, BSAC has plunged 3.3% to close the last trading session at $18.94.
BSAC's POWR Ratings are consistent with this bleak outlook. The stock has an overall rating of D, translating to a Sell in our proprietary rating system.
BSAC has a D grade for Value and Sentiment. It is ranked #85 of 88 stocks in the Foreign Banks industry.
To see BSAC's POWR Ratings for Growth, Stability, Quality, and Momentum, <a href="https://stocknews.com/stock/BSAC/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>
<hr />
CMAKY shares were unchanged in premarket trading Monday. Year-to-date, CMAKY has gained 10.22%, versus a 12.84% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/cmaky-bsac-ggal-2-bank-stocks-to-watch-this-week-1-to-sell/>The Top 2 Bank Stocks to Watch This Week and 1 to Avoid</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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Latest News for CMBC Stock (OTC:CMAKY)

Monday, August 05, 2019

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