View ValuationBanque Centrale Populaire 향후 성장Future 기준 점검 0/6Banque Centrale Populaire (는) 각각 연간 6.1% 및 8.9% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 3.9% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.7% 로 예상됩니다.핵심 정보6.1%이익 성장률3.93%EPS 성장률Banks 이익 성장7.4%매출 성장률8.9%향후 자기자본이익률11.67%애널리스트 커버리지Low마지막 업데이트26 May 2026최근 향후 성장 업데이트Price Target Changed • May 29Price target decreased by 12% to د.م260Down from د.م294, the current price target is provided by 1 analyst. New target price is 8.3% above last closing price of د.م240. Stock is down 10% over the past year. The company is forecast to post earnings per share of د.م21.50 for next year compared to د.م22.15 last year.Price Target Changed • Jun 05Price target increased by 9.3% to د.م317Up from د.م290, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م306. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of د.م23.30 for next year compared to د.م20.39 last year.Major Estimate Revision • May 31Consensus EPS estimates increase by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from د.م23.9b to د.م24.4b. EPS estimate increased from د.م18.90 to د.م21.20 per share. Net income forecast to grow 24% next year vs 16% growth forecast for Banks industry in Morocco. Consensus price target broadly unchanged at د.م299. Share price was steady at د.م294 over the past week.Price Target Changed • Jun 16Price target decreased to د.م286Down from د.م329, the current price target is an average from 2 analysts. New target price is 13% above last closing price of د.م253. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of د.م11.80 for next year compared to د.م8.68 last year.Price Target Changed • Oct 07Price target increased to د.م281Up from د.م240, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of د.م271. Stock is up 15% over the past year.모든 업데이트 보기Recent updatesDeclared Dividend • Jul 03Dividend increased to د.م11.00Dividend of د.م11.00 is 4.8% higher than last year. Ex-date: 9th July 2026 Payment date: 20th July 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by earnings (48% payout ratio) and is expected to be covered in 3 years' time (52% forecast payout ratio). The dividend has increased by an average of 6.4% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 3.9% over the next year, which should provide support to the dividend and adequate earnings cover.공고 • Jul 02Banque Centrale Populaire announces Annual dividend, payable on July 20, 2026Banque Centrale Populaire announced Annual dividend of MAD 11.0000 per share payable on July 20, 2026, ex-date on July 09, 2026 and record date on July 08, 2026.Price Target Changed • May 29Price target decreased by 12% to د.م260Down from د.م294, the current price target is provided by 1 analyst. New target price is 8.3% above last closing price of د.م240. Stock is down 10% over the past year. The company is forecast to post earnings per share of د.م21.50 for next year compared to د.م22.15 last year.공고 • May 26Banque Centrale Populaire, Annual General Meeting, Jun 24, 2026Banque Centrale Populaire, Annual General Meeting, Jun 24, 2026. Location: casablanca MoroccoReported Earnings • Apr 05Full year 2025 earnings released: EPS: د.م22.15 (vs د.م20.39 in FY 2024)Full year 2025 results: EPS: د.م22.15 (up from د.م20.39 in FY 2024). Revenue: د.م21.6b (up 11% from FY 2024). Net income: د.م4.50b (up 8.6% from FY 2024). Profit margin: 21% (in line with FY 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Board Change • Feb 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Jean Beyrard was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Dec 25Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Jean Beyrard was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Declared Dividend • Jul 10Dividend increased to د.م10.50Dividend of د.م10.50 is 5.0% higher than last year. Ex-date: 15th July 2025 Payment date: 24th July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 3.0%. Sustainability & Growth The dividend has increased by an average of 6.6% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 8.2% over the next year, which should provide support to the dividend and adequate earnings cover.New Risk • Jun 13New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Price Target Changed • Jun 05Price target increased by 9.3% to د.م317Up from د.م290, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م306. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of د.م23.30 for next year compared to د.م20.39 last year.공고 • Jun 02Banque Centrale Populaire, Annual General Meeting, Jun 30, 2025Banque Centrale Populaire, Annual General Meeting, Jun 30, 2025.Reported Earnings • May 23First quarter 2025 earnings released: EPS: د.م6.36 (vs د.م5.34 in 1Q 2024)First quarter 2025 results: EPS: د.م6.36 (up from د.م5.34 in 1Q 2024). Revenue: د.م5.40b (up 14% from 1Q 2024). Net income: د.م1.29b (up 19% from 1Q 2024). Profit margin: 24% (up from 23% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Board Change • Feb 24Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Nathalie Gabala was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • Dec 25Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Nathalie Gabala was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Upcoming Dividend • Jul 12Upcoming dividend of د.م10.00 per shareEligible shareholders must have bought the stock before 19 July 2024. Payment date: 31 July 2024. Trailing yield: 3.0%. Lower than top quartile of Moroccan dividend payers (4.3%). In line with average of industry peers (3.0%).공고 • Jun 01Banque Centrale Populaire, Annual General Meeting, Jun 28, 2024Banque Centrale Populaire, Annual General Meeting, Jun 28, 2024. Location: casablanca MoroccoMajor Estimate Revision • May 31Consensus EPS estimates increase by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from د.م23.9b to د.م24.4b. EPS estimate increased from د.م18.90 to د.م21.20 per share. Net income forecast to grow 24% next year vs 16% growth forecast for Banks industry in Morocco. Consensus price target broadly unchanged at د.م299. Share price was steady at د.م294 over the past week.Reported Earnings • Dec 21Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: د.م5.48b (up 17% from 2Q 2022). Net income: د.م1.74b (up 78% from 2Q 2022). Profit margin: 32% (up from 21% in 2Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Morocco.New Risk • Oct 06New major risk - Revenue and earnings growthEarnings have declined by 9.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Jan 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to د.م195, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Banks industry in Morocco. Total loss to shareholders of 22% over the past three years.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Nathalie Gabala was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Upcoming Dividend • Jul 06Upcoming dividend of د.م8.50 per shareEligible shareholders must have bought the stock before 13 July 2022. Payment date: 22 July 2022. Trailing yield: 3.5%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (3.9%).Price Target Changed • Jun 16Price target decreased to د.م286Down from د.م329, the current price target is an average from 2 analysts. New target price is 13% above last closing price of د.م253. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of د.م11.80 for next year compared to د.م8.68 last year.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). Chairman & CEO Mohamed Mounir was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Price Target Changed • Oct 07Price target increased to د.م281Up from د.م240, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of د.م271. Stock is up 15% over the past year.Reported Earnings • Mar 09Full year 2020 earnings released: EPS د.م6.08 (vs د.م14.83 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م13.2b (down 14% from FY 2019). Net income: د.م1.23b (down 59% from FY 2019). Profit margin: 9.3% (down from 20% in FY 2019). The decrease in margin was driven by lower revenue. Non-performing loans: 10.48% (up from 9.18% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Mar 09Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 0.9%. Earnings per share (EPS) missed analyst estimates by 47%. Over the next year, revenue is forecast to grow 51%, compared to a 37% growth forecast for the Banks industry in Morocco.Is New 90 Day High Low • Jan 26New 90-day high: د.م260The company is up 8.0% from its price of د.م240 on 28 October 2020. The Moroccan market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 13% over the same period.Is New 90 Day High Low • Dec 08New 90-day high: د.م247The company is up 5.0% from its price of د.م236 on 09 September 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.Is New 90 Day High Low • Nov 11New 90-day high: د.م244The company is up 5.0% from its price of د.م233 on 13 August 2020. The Moroccan market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.Is New 90 Day High Low • Oct 14New 90-day high: د.م236The company is up 7.0% from its price of د.م222 on 16 July 2020. The Moroccan market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.Reported Earnings • Sep 28First half earnings releasedOver the last 12 months the company has reported total profits of د.م2.37b, down 22% from the prior year. Total revenue was د.م14.9b over the last 12 months, up 4.0% from the prior year.이익 및 매출 성장 예측CBSE:BCP - 애널리스트 향후 추정치 및 과거 재무 데이터 (MAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202828,6535,117N/AN/A112/31/202727,2724,685N/AN/A112/31/202625,8424,361N/AN/A13/31/202621,8504,364N/AN/AN/A12/31/202521,6234,5038,71810,337N/A9/30/202520,9214,501N/AN/AN/A6/30/202520,4854,47713,36915,045N/A3/31/202520,0514,352N/AN/AN/A12/31/202419,4054,1456,3697,952N/A9/30/202418,3673,232N/AN/AN/A6/30/202418,1373,715-6,465-4,381N/A3/31/202418,2433,951N/AN/AN/A12/31/202317,4373,475-9,743-7,955N/A9/30/202318,7214,014N/AN/AN/A6/30/202317,0463,2891,1452,532N/A3/31/202316,2572,528N/AN/AN/A12/31/202216,3152,7499452,401N/A9/30/202214,7822,514N/AN/AN/A6/30/202215,2492,021-3,642-2,418N/A3/31/202214,9162,097N/AN/AN/A12/31/202114,5501,765-202923N/A9/30/202114,5082,001N/AN/AN/A6/30/202114,1161,7625,1156,547N/A3/31/202113,2961,483N/AN/AN/A12/31/202013,1581,2295,3716,586N/A9/30/202014,9372,207N/AN/AN/A6/30/202014,8832,374-2,268-1,300N/A3/31/202015,2672,564N/AN/AN/A12/31/201915,2492,999N/A-4,515N/A9/30/201914,4483,035N/AN/AN/A6/30/201914,3063,027N/A-4,665N/A3/31/201914,2552,955N/AN/AN/A12/31/201814,0542,943N/A-4,057N/A9/30/201814,1512,844N/AN/AN/A6/30/201813,8192,872N/A-4,920N/A3/31/201813,4942,884N/AN/AN/A1/1/201813,2602,843N/A-3,360N/A9/30/201712,3372,712N/AN/AN/A6/30/201712,5432,774N/A11,657N/A3/31/201712,1632,572N/AN/AN/A12/31/201612,3512,643N/A16,416N/A9/30/201612,3342,657N/A10,418N/A6/30/201612,3152,671N/A4,419N/A3/31/201612,2542,591N/A1,343N/A12/31/201512,1922,511N/A-1,733N/A9/30/201512,2542,914N/A1,946N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: BCP 의 연간 예상 수익 증가율(6.1%)이 saving rate(15.1%) 미만입니다.수익 vs 시장: BCP 의 연간 수익(6.1%)이 MA 시장(11.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 수익: BCP 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: BCP 의 수익(연간 8.9%)이 MA 시장(연간 10.5%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: BCP 의 수익(연간 8.9%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: BCP의 자본 수익률은 3년 후 11.7%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YBanks 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/04 05:02종가2026/08/04 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Banque Centrale Populaire는 3명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Ranya GnabaAlphaMenaJaap MeijerArqaam Capital Research Offshore S.A.L.Mehdi ChakirCFG Marches
Price Target Changed • May 29Price target decreased by 12% to د.م260Down from د.م294, the current price target is provided by 1 analyst. New target price is 8.3% above last closing price of د.م240. Stock is down 10% over the past year. The company is forecast to post earnings per share of د.م21.50 for next year compared to د.م22.15 last year.
Price Target Changed • Jun 05Price target increased by 9.3% to د.م317Up from د.م290, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م306. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of د.م23.30 for next year compared to د.م20.39 last year.
Major Estimate Revision • May 31Consensus EPS estimates increase by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from د.م23.9b to د.م24.4b. EPS estimate increased from د.م18.90 to د.م21.20 per share. Net income forecast to grow 24% next year vs 16% growth forecast for Banks industry in Morocco. Consensus price target broadly unchanged at د.م299. Share price was steady at د.م294 over the past week.
Price Target Changed • Jun 16Price target decreased to د.م286Down from د.م329, the current price target is an average from 2 analysts. New target price is 13% above last closing price of د.م253. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of د.م11.80 for next year compared to د.م8.68 last year.
Price Target Changed • Oct 07Price target increased to د.م281Up from د.م240, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of د.م271. Stock is up 15% over the past year.
Declared Dividend • Jul 03Dividend increased to د.م11.00Dividend of د.م11.00 is 4.8% higher than last year. Ex-date: 9th July 2026 Payment date: 20th July 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by earnings (48% payout ratio) and is expected to be covered in 3 years' time (52% forecast payout ratio). The dividend has increased by an average of 6.4% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 3.9% over the next year, which should provide support to the dividend and adequate earnings cover.
공고 • Jul 02Banque Centrale Populaire announces Annual dividend, payable on July 20, 2026Banque Centrale Populaire announced Annual dividend of MAD 11.0000 per share payable on July 20, 2026, ex-date on July 09, 2026 and record date on July 08, 2026.
Price Target Changed • May 29Price target decreased by 12% to د.م260Down from د.م294, the current price target is provided by 1 analyst. New target price is 8.3% above last closing price of د.م240. Stock is down 10% over the past year. The company is forecast to post earnings per share of د.م21.50 for next year compared to د.م22.15 last year.
공고 • May 26Banque Centrale Populaire, Annual General Meeting, Jun 24, 2026Banque Centrale Populaire, Annual General Meeting, Jun 24, 2026. Location: casablanca Morocco
Reported Earnings • Apr 05Full year 2025 earnings released: EPS: د.م22.15 (vs د.م20.39 in FY 2024)Full year 2025 results: EPS: د.م22.15 (up from د.م20.39 in FY 2024). Revenue: د.م21.6b (up 11% from FY 2024). Net income: د.م4.50b (up 8.6% from FY 2024). Profit margin: 21% (in line with FY 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Board Change • Feb 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Jean Beyrard was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Dec 25Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Jean Beyrard was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Declared Dividend • Jul 10Dividend increased to د.م10.50Dividend of د.م10.50 is 5.0% higher than last year. Ex-date: 15th July 2025 Payment date: 24th July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 3.0%. Sustainability & Growth The dividend has increased by an average of 6.6% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 8.2% over the next year, which should provide support to the dividend and adequate earnings cover.
New Risk • Jun 13New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Price Target Changed • Jun 05Price target increased by 9.3% to د.م317Up from د.م290, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م306. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of د.م23.30 for next year compared to د.م20.39 last year.
공고 • Jun 02Banque Centrale Populaire, Annual General Meeting, Jun 30, 2025Banque Centrale Populaire, Annual General Meeting, Jun 30, 2025.
Reported Earnings • May 23First quarter 2025 earnings released: EPS: د.م6.36 (vs د.م5.34 in 1Q 2024)First quarter 2025 results: EPS: د.م6.36 (up from د.م5.34 in 1Q 2024). Revenue: د.م5.40b (up 14% from 1Q 2024). Net income: د.م1.29b (up 19% from 1Q 2024). Profit margin: 24% (up from 23% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Board Change • Feb 24Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Nathalie Gabala was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • Dec 25Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Nathalie Gabala was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Upcoming Dividend • Jul 12Upcoming dividend of د.م10.00 per shareEligible shareholders must have bought the stock before 19 July 2024. Payment date: 31 July 2024. Trailing yield: 3.0%. Lower than top quartile of Moroccan dividend payers (4.3%). In line with average of industry peers (3.0%).
공고 • Jun 01Banque Centrale Populaire, Annual General Meeting, Jun 28, 2024Banque Centrale Populaire, Annual General Meeting, Jun 28, 2024. Location: casablanca Morocco
Major Estimate Revision • May 31Consensus EPS estimates increase by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from د.م23.9b to د.م24.4b. EPS estimate increased from د.م18.90 to د.م21.20 per share. Net income forecast to grow 24% next year vs 16% growth forecast for Banks industry in Morocco. Consensus price target broadly unchanged at د.م299. Share price was steady at د.م294 over the past week.
Reported Earnings • Dec 21Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: د.م5.48b (up 17% from 2Q 2022). Net income: د.م1.74b (up 78% from 2Q 2022). Profit margin: 32% (up from 21% in 2Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Morocco.
New Risk • Oct 06New major risk - Revenue and earnings growthEarnings have declined by 9.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Jan 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to د.م195, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Banks industry in Morocco. Total loss to shareholders of 22% over the past three years.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Nathalie Gabala was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • Jul 06Upcoming dividend of د.م8.50 per shareEligible shareholders must have bought the stock before 13 July 2022. Payment date: 22 July 2022. Trailing yield: 3.5%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (3.9%).
Price Target Changed • Jun 16Price target decreased to د.م286Down from د.م329, the current price target is an average from 2 analysts. New target price is 13% above last closing price of د.م253. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of د.م11.80 for next year compared to د.م8.68 last year.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). Chairman & CEO Mohamed Mounir was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Price Target Changed • Oct 07Price target increased to د.م281Up from د.م240, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of د.م271. Stock is up 15% over the past year.
Reported Earnings • Mar 09Full year 2020 earnings released: EPS د.م6.08 (vs د.م14.83 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م13.2b (down 14% from FY 2019). Net income: د.م1.23b (down 59% from FY 2019). Profit margin: 9.3% (down from 20% in FY 2019). The decrease in margin was driven by lower revenue. Non-performing loans: 10.48% (up from 9.18% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Mar 09Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 0.9%. Earnings per share (EPS) missed analyst estimates by 47%. Over the next year, revenue is forecast to grow 51%, compared to a 37% growth forecast for the Banks industry in Morocco.
Is New 90 Day High Low • Jan 26New 90-day high: د.م260The company is up 8.0% from its price of د.م240 on 28 October 2020. The Moroccan market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 13% over the same period.
Is New 90 Day High Low • Dec 08New 90-day high: د.م247The company is up 5.0% from its price of د.م236 on 09 September 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.
Is New 90 Day High Low • Nov 11New 90-day high: د.م244The company is up 5.0% from its price of د.م233 on 13 August 2020. The Moroccan market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.
Is New 90 Day High Low • Oct 14New 90-day high: د.م236The company is up 7.0% from its price of د.م222 on 16 July 2020. The Moroccan market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.
Reported Earnings • Sep 28First half earnings releasedOver the last 12 months the company has reported total profits of د.م2.37b, down 22% from the prior year. Total revenue was د.م14.9b over the last 12 months, up 4.0% from the prior year.