Swedbank AB (publ)
Buy by micke
The bank is making good profits. EPS2023=30SEK, up from EPS2022=19SEK. Net income was down in 2022Q4 compared to Q3. Operating income for 2023Q4 was up, but costs and tax where up more vs 2023Q3. Interest rates will probably be declining during 2024, which should lower NII but some growth and higher mortgage margins could give some relief. My high level guess is EPS2024=28SEK, slightly lower than EPS2023. Dividend for 2023 (~50% of EPS) to will be 15,5 SEK, which is 7% (share price 214SEK). If/When US investigations are ended there is a risk of high fines, but probably they will be reasonable, and dividend percentage can go back to 70%. I assume share price will increase when this is finalized, which together with dividend, are my main reasons for owning Swedbank shares.
- 245.00 +8.31% by 01/09/2024
30/01/2024|Analyses:6
1