(Tiper Stock Exchange) – Lots of positive reviews of analysts on General Bankafter the publication of the half-yearly report, which highlighted i best results in history of the private bank. The stock today won the stock market with a gain of 2.71% to 34.49 euros.
Intermonte underlines management’s confidence in the prospects for funding. The guidelines of the business plan have been reaffirmed while the NII 2023 guidelines have been revised upwards. Collection guidance confirmed net with some upside on the mix related to reinvesting short dated bonds and inversion insurance. Confirmed the generous dividend policyi supported by a solid capital ratio.
Estimates for 2023 are unchanged on a higher NII which compensates for lower performance fees and higher fee expenses. The recovery of the mix of net inflows – reinvesting bonds and improving insurance – could lead to a revaluation of equities from their current multiples.
Barclays confirmed the rating a equal weight raising the target price to 34.4 euros (from 33.7 euros). Stifel/Kbw underlines that management has confirmed good progress against all the key targets for 2024 and notes that the institute is considered a top player with a network of quality financial advisors.