BOVESPA:BPAC3

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Executive Summary

Banco BTG Pactual S.A. provides financial products and services in Brazil and internationally. More Details


Snowflake Analysis

Excellent balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Banco BTG Pactual's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BPAC3 is not significantly more volatile than the rest of BR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: BPAC3's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-0.9%

BPAC3

-1.6%

BR Capital Markets

-2.6%

BR Market


1 Year Return

20.9%

BPAC3

19.9%

BR Capital Markets

-2.2%

BR Market

Return vs Industry: BPAC3 underperformed the BR Capital Markets industry which returned 22% over the past year.

Return vs Market: BPAC3 exceeded the BR Market which returned -1.4% over the past year.


Shareholder returns

BPAC3IndustryMarket
7 Day-0.9%-1.6%-2.6%
30 Day-3.2%-2.8%0.6%
90 Day7.2%6.8%14.3%
1 Year21.7%20.9%22.8%19.9%0.4%-2.2%
3 Year485.7%444.8%235.3%206.7%47.3%31.4%
5 Yearn/a514.3%434.6%195.4%144.8%

Long-Term Price Volatility Vs. Market

How volatile is Banco BTG Pactual's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Banco BTG Pactual undervalued compared to its fair value and its price relative to the market?

30.46x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BPAC3 (R$45) is trading above our estimate of fair value (R$23.33)

Significantly Below Fair Value: BPAC3 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BPAC3 is poor value based on its PE Ratio (30.5x) compared to the XS Capital Markets industry average (15.4x).

PE vs Market: BPAC3 is poor value based on its PE Ratio (30.5x) compared to the BR market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BPAC3's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BPAC3 is overvalued based on its PB Ratio (4.7x) compared to the BR Capital Markets industry average (1.8x).


Next Steps

Future Growth

How is Banco BTG Pactual forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

16.4%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BPAC3's forecast earnings growth is above the savings rate (9.9%).

Earnings vs Market: Insufficient data to determine if BPAC3's earnings are forecast to grow faster than the BR market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BPAC3's revenue (16.4% per year) is forecast to grow faster than the BR market (10.4% per year).

High Growth Revenue: BPAC3's revenue (16.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BPAC3's Return on Equity is forecast to be low in 3 years time (19%).


Next Steps

Past Performance

How has Banco BTG Pactual performed over the past 5 years?

-9.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BPAC3 has a high level of non-cash earnings.

Growing Profit Margin: BPAC3's current net profit margins (53.5%) are lower than last year (61.6%).


Past Earnings Growth Analysis

Earnings Trend: BPAC3's earnings have declined by 9.3% per year over the past 5 years.

Accelerating Growth: BPAC3's earnings growth over the past year (22.4%) exceeds its 5-year average (-9.3% per year).

Earnings vs Industry: BPAC3 earnings growth over the past year (22.4%) exceeded the Capital Markets industry -14.5%.


Return on Equity

High ROE: BPAC3's Return on Equity (14.2%) is considered low.


Next Steps

Financial Health

How is Banco BTG Pactual's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BPAC3's Assets to Equity ratio (9.6x) is low.

Allowance for Bad Loans: BPAC3 has a sufficient allowance for bad loans (561%).

Low Risk Liabilities: 77% of BPAC3's liabilities are made up of primarily higher risk sources of funding.

Loan Level: BPAC3 has an appropriate level of Loans to Assets ratio (18%).

Low Risk Deposits: BPAC3's Loans to Deposits ratio (87%) is appropriate.

Level of Bad Loans: BPAC3 has an appropriate level of bad loans (0.7%).


Next Steps

Dividend

What is Banco BTG Pactual current dividend yield, its reliability and sustainability?

1.00%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BPAC3's dividend (1%) is higher than the bottom 25% of dividend payers in the BR market (0.96%).

High Dividend: BPAC3's dividend (1%) is low compared to the top 25% of dividend payers in the BR market (5.13%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BPAC3 has been paying a dividend for less than 10 years.

Growing Dividend: BPAC3's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.8%), BPAC3's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BPAC3's dividends in 3 years are forecast to be well covered by earnings (47.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

11.3yrs

Average management tenure


CEO

Roberto Balls Sallouti (48 yo)

5.17yrs

Tenure

Mr. Roberto Balls Sallouti served as Chairman of Banco BTG Pactual S.A. Mr. Sallouti has been the Chief Executive Officer of Banco BTG Pactual S.A., since November 10, 2016 and served as its Co-Chief Execu...


Leadership Team

NamePositionTenureCompensationOwnership
Roberto Balls Sallouti
CEO, Member of Management Board & Director5.17yrsno datano data
Joao Marcello Leite
Executive Officer24yrsno datano data
Antonio Carlos Porto Filho
Senior VP20.75yrsno datano data
Guilherme da Costa Paes
Co-Head of the Investment Banking Unit11.33yrsno datano data
Renato dos Santos
Head of FICC12.17yrsno datano data
Iuri Rapoport
Secretary6.75yrsno datano data
André Fernandes Dias
Chief Risk Officer9.25yrsno datano data
Oswaldo de Assis Filho
Executive Officer & Member of Board of Executive Officers12.17yrsno datano data
Rogério Pessoa de Albuquerque
Co-Head of the Wealth Management Unit11.33yrsno datano data
Bruno Duque Nogueira
Managing Director Partner6.75yrsno datano data
Mariana Ramalho Cardoso
CCO & Member of Board of Executive Officers4.08yrsno datano data
Pedro da Rocha Lima
Executive Officer & IROno datano datano data

11.3yrs

Average Tenure

49yo

Average Age

Experienced Management: BPAC3's management team is seasoned and experienced (11.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Roberto Balls Sallouti
CEO, Member of Management Board & Director5.17yrsno datano data
Eduardo de Mello Motta Loyo
Chief Economist2.83yrsno datano data
John Huw Jenkins
Vice-Chairman5.17yrsno datano data
Guillermo Aponte Ortiz Martinez
Director4.08yrsno datano data
Cláudio Eugênio Galeazzi
Independent Directorno datano datano data
Mark Maletz
Independent Director5.75yrsno datano data
Nelson Azevedo Jobim
Chairman2.08yrsno datano data
Sofia de Fátima Esteves
Independent Director0.42yrno datano data

4.1yrs

Average Tenure

61.5yo

Average Age

Experienced Board: BPAC3's board of directors are considered experienced (4.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.1%.


Top Shareholders

Company Information

Banco BTG Pactual S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banco BTG Pactual S.A.
  • Ticker: BPAC3
  • Exchange: BOVESPA
  • Founded: 1983
  • Industry: Diversified Capital Markets
  • Sector: Diversified Financials
  • Market Cap: R$111.962b
  • Shares outstanding: 2.71b
  • Website: https://www.btgpactual.com

Location

  • Banco BTG Pactual S.A.
  • Av. Brigadeiro Faria Lima, 3.477
  • 14º Andar - Itaim Bibi
  • Sao Paulo
  • São Paulo
  • 04538-133
  • Brazil

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BPAC3BOVESPA (Bolsa de Valores de Sao Paulo)YesCommon StockBRBRLApr 2013
BPAC5BOVESPA (Bolsa de Valores de Sao Paulo)Preferred Class A SharesBRBRLApr 2013
BPAC11BOVESPA (Bolsa de Valores de Sao Paulo)UNITS (1 COM & 2 PRF CL'A')BRBRLFeb 2017

Biography

Banco BTG Pactual S.A. provides financial products and services in Brazil and internationally. Its investment banking services include underwriting of public and private debt and equity products; advisory ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 21:59
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.