21st Century Business Herald reporter Ye Maisui reported from Guangzhou Postal Savings Bank announced its plan to stabilize the stock price this afternoon. From May 27, 2022 to June 24, 2022, the closing price of the bank’s A shares has been lower than the bank’s latest audited share price for 20 consecutive trading days. The net asset is 6.89 yuan, which triggers the start condition of the bank’s stock price stabilization measures. The controlling shareholder, China Post Group, plans to increase its A shares in Postal Savings Bank of China with a cumulative amount of not less than 50 million yuan. So far this month, 4 banks have disclosed the “insurance” plan. If the time is extended, 12 banks will join the “insurance” army this year.
A number of banks have launched plans to increase their holdings
In addition, the Postal Savings Bank also stated that there is no price range for the increase in shareholding. The implementation period of the share increase plan is six months from the date of the announcement of the stock price stabilization plan. There is a risk that the subsequent increase in holdings cannot be implemented because the required funds are not in place.
Not long ago, on June 14, Bank of Suzhou issued an announcement saying that from April 30, 2022 to June 1, 2022, the closing price of Bank of Suzhou A shares has been lower than 8.65 yuan for 20 consecutive trading days ( The most recent audited net assets per share) meet the triggering conditions for triggering share price stabilization measures. The bank plans to take measures to stabilize the stock price by increasing the shares held by current directors (excluding independent directors) and senior management.
The announcement shows that the main body of the increase includes directors and senior management personnel including the chairman of the bank Wang Lanfeng and the president Zhao Kun, a total of 11 personnel, and the monetary funds that they intend to use to increase their holdings of the bank’s shares are not less than these directors, The senior executives received 15% of the total remuneration (after tax) from the bank in the previous year, that is, the total amount of increased shares held is not less than 2.0591 million yuan.
On the evening of June 9, Qilu Bank issued an announcement on the plan to stabilize the stock price. Shareholders holding more than 5% of the shares and some directors, supervisors and senior executives planned to increase their holdings of not less than 54.2064 million shares.
Earlier this month, Ruifeng Bank also issued the “Announcement on the Stock Price Stabilization Plan”, stating that from April 26, 2022 to May 26, 2022, the bank’s stock has closed below the share price for 20 consecutive trading days. net assets, meeting the conditions for triggering the price stabilization measures. Ruifeng Bank pointed out that, on the premise of meeting the relevant regulations on stock trading, the total amount of shares purchased by the then-remunerated directors (except independent directors) and senior managers should not be less than the total amount of shares they acquired from the bank in the previous year. 15% of the total after-tax remuneration, but the shareholding ratio or number should comply with the regulations of the relevant regulatory authorities. The total amount of the aforementioned holding-increasing entities this time is not less than 1,029,800 yuan.
So far in June, 4 banks have announced the “insurance” program. If the time is extended, so far this year, 12 banks have proposed or implemented plans to increase their holdings.
From the point of view of the motive for the increase in holdings, most banks are due to the stock price falling below their net assets. However, there are also bank shareholders or executives who take the initiative to attack. On June 17, Bank of Beijing announced that 13 executives increased their holdings of 2.162 million shares of the company. The new president of China Merchants Bank, Wang Liang, spent nearly 770,000 yuan to increase his holdings as soon as he took office, which attracted a lot of market attention. On May 26, Wang Liang bought 20,000 A-shares of China Merchants Bank in the secondary market at 38.33 yuan per share, just one week before he became president of the bank. More than a month ago, affected by factors such as the incident of former president Tian Huiyu, the share price of China Merchants Bank once fell from more than 40 yuan to a low of 35.26 yuan, and the total market value fell below the trillion yuan mark many times.
On May 18, Bank of Nanjing announced that the company received a letter of notification from BNP Paribas, the bank’s largest shareholder, that BNP Paribas and BNP Paribas (QFII) increased their shareholding in the company by more than 1%. After the equity change, BNP Paribas and BNP Paribas (QFII) together increased the shareholding ratio of the company from 14.04% to 16.37%, increasing the shareholding ratio to 2.33%, exceeding 1%, and promised to increase the shareholding from the date of acquisition 5 No transfers will be made during the year.
Although bank stocks have been somewhat weak this year, dragged down by the broader market, their good performance reports still attract the attention of institutions.
17 banks with dividend yields over 5%
Wang Yifeng, an analyst at Everbright Securities, believes that with the support of shareholders and executives, with the implementation of measures to stabilize growth and the resumption of work and production, the previously suppressed financing needs are expected to be released, and the bank will maintain a strong balance sheet expansion throughout the year. Intensity; although there is downward pressure on asset-side pricing, policy dividends on the liability-side will help ease the squeeze on NIM from asset-side pricing. It is expected that in the second quarter or when the operating pressure is the greatest, the growth rate of revenue and profit in the second half of the year will bottom out and stabilize. Bank stock investment continues to grasp three main lines: 1) Ningbo Bank and China Merchants Bank with high-quality operating fundamentals and relatively cost-effective valuations; 2) Postal Savings Bank, which is the “head geese” in credit issuance and has obvious advantages on the liability side; 3) Deeply cultivated in high-quality areas and Banks with performance release demands, such as Hangzhou, Nanjing, Jiangsu, and Changshu Banks.
In the past month, various listed banks have been paying dividends intensively. A number of industry insiders said that although the stock price of banks is less elastic and undervalued than individual stocks in other industries, due to the characteristics of high dividends of bank stocks, the overall dividend rate exceeds the yield of wealth management products, and it still has high investment value.
The person in charge of a public fund in South China said that the current valuation of the banking sector is already very “sweet”, and the dividend yield of many banks has exceeded 5%, which is far better than that of general wealth management products. He is optimistic about the performance of banks in the second quarter.
As of the close on June 27, 17 banks had a dividend yield of more than 5%, 12 more than 6%, and Bank of Communications had the highest, reaching 7.17%.
Judging from the quarterly report of this year, the bank’s answer sheet is also remarkable. Flush data statistics show that among the 42 A-share listed banks, 40 of them have a positive growth rate of net profit attributable to the parent, 26 have achieved double-digit growth, and 16 of them have exceeded 20%.
Liu Zhiping, an analyst at Huaxi Securities, said that effective financing of entities is expected to be repaired in the future, and the credit structure of banks and structural industry risks will also gradually improve. It is expected that the performance will remain basically stable during the year. From an investment perspective, the ratio of fund holdings in banks rebounded in the first quarter, reflecting the defensive nature of the sector. At present, the corresponding static PB of the sector is only 0.61 times, which has fully reflected the expectations from the macro and micro levels. At the same time, the sector’s dividend yield is at a historically high level, and the investment is cost-effective. Maintain the “recommended” rating of the sector.
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