Today’s session ended with the plus sign for Intesa Sanpaolo which posted the best performance in the banking sector and showed more relative strength than the Ftse Mib.
Intesa Sanpaolo in pole position in the banking sector
The stock, after having closed yesterday’s session with a stalemate, reporting a fractional drop of 0.09%, today immediately positioned itself along the earnings path.
At the end of the day, Intesa Sanpaolo was at € 2.251, with an increase of 0.92% and almost 47 million shares traded on the market, against the average of the last 30 days of approximately 91 million.
Intesa Sanpaolo takes advantage of the calm on the Spread and BTP front
The stock gained ground taking advantage of the substantial stability shown by the bond market, with the BTP-Bund Spread fixed on parity at 133.2 basis points, while some purchases involved BTPs, with the ten-year yield falling by 0.38% 1.05%.
Intesa Sanpaolo: green light for the Mooney operation with Enel
Intesa Sanpaolo stands out among bankers with some rumors that attract attention.
As reported by the Sun, Enel and Intesa Sanpaolo have given the green light to the acquisition of Mooney, in the wake of rumors that have already emerged in recent days. The acquisition provides for 50% co-control and implies a valuation of approximately 1.5 billion euros.
Intesa Sanpaolo promoted by Banca Akros
To give Intesa Sanpaolo an edge is the promotion that arrived from Banca Akros which has decided to review its strategy, with a rating change from “neutral” to “accumulated” and a target price of 2.5 euros.
Banca Akros analysts have decided to reserve an upgrade to Intesa Sanpaolo after the recent correction.
Also betting on the stock is Citi, which last week reiterated the “buy” recommendation and a target price of € 3, a value that implies an upside potential of over 33% compared to the current prices on Piazza Affari.
The US bank recalls that Intesa Sanpaolo will present a new business plan in February and analysts expect an increase in profitability, thanks to the focus on the savings business, efficiency and credit quality.
A higher return on capital is also expected, thanks to the solid and robust capital position of the bank led by Carlo Messina.
Intesa Sanpaolo: expectations on upcoming dividends
Intesa Sanpaolo made it known that the future return on capital will be the result of a minimum capital objective, adding that in addition to the dividend, other forms of remuneration to shareholders could be considered.
Citigroup has revised up the estimates of eps in the order of about 5%, explaining that it expects a net profit of 4.264 billion euros for 2021, tripled compared to the 1.462 billion euros of 2020.
The dividend for the year that is about to end is estimated at € 0.16, a value which, compared to the current share prices, translates into a yield of 7.12%.
In 2022 the Intesa Sanpaolo coupon according to Citi forecasts should rise to 0.22 euros, with a yield of 9.7%, while in 2023 the estimate is even higher and speaks of a dividend of 0.25 euros, with a yield of 11.1%, against a net profit of over € 5.7 billion.
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Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.
