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<Research>HSBC Research Adds BANK OF E ASIA (00023.HK) TP to $13.9, Rating Buy
Recommend 7 Positive 11 Negative 3 |
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BANK OF E ASIA (00023.HK)'s 1Q25 CET1 ratio rose by 6.5 ppts QoQ to 24.1%, beating HSBC Global Research's expectation, mainly due to a reduction in RWA under the Basel 3.1 reform, according to a research report issued by HSBC Global Research. The broker estimated that, if BANK OF E ASIA targets a CET1 ratio of 16% in its medium- to long-term reform, theoretically, it could return $15.1 billion to shareholders this year, equivalent to 46% of its market capitalization, in addition to a regular dividend yield of 6%. HSBC Global Research lowered its 2025/ 2026 earnings forecasts for BANK OF E ASIA by 12.8%/ 4.7% each, but raised its 2027 forecast by 7.4%, reflecting the negative impact of lower HIBOR on net interest margin, partially offset by increased fee income. Therefore, the broker added its target price for BANK OF E ASIA from $12.8 to $13.9, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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