CPSE:FOBANKBanks
Føroya Banki (CPSE:FOBANK) Stock Looks Cheap Despite Softer Profit Trend
Føroya Banki walked into this earnings print wearing a value label, trading on a trailing P/E of 10.2x against a richer European banks peer group. The stock closed yesterday at DKK277.5 and had quietly built a double digit 90 day gain, which indicates expectations were warming up again.
The headline from Q2 is clear for a regional lender. Earnings per share of 7.26 DKK and net income of DKK69.5m sat on top of a cost base that already looked lean in earlier quarters. The key question now is...