SWX:BEKNBanks
Berner Kantonalbank (SWX:BEKN) Stock Faces Premium Valuation Questions After Softer Profit
Berner Kantonalbank shares closed at CHF373 after a soft few weeks, with the stock down over the past month even as the latest half year numbers land. The market looks more cautious than euphoric. That caution meets a bank still reporting high profitability, with a trailing net margin of 32.3% and earnings from continuing operations of CHF181.7 million over the past twelve months.
The key issue now is valuation. Berner Kantonalbank trades on a 19x P/E, above the wider European banks sector,...