SWX:BCGE

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Banque Cantonale de Genève

Executive Summary

Banque Cantonale de Genève SA provides a range of banking services to private, corporate, and institutional clients.


Snowflake Analysis

Excellent balance sheet with solid track record.


Similar Companies

Share Price & News

How has Banque Cantonale de Genève's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BCGE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.4%

BCGE

-1.4%

CH Banks

0.5%

CH Market


1 Year Return

-10.4%

BCGE

-2.0%

CH Banks

-0.5%

CH Market

Return vs Industry: BCGE underperformed the Swiss Banks industry which returned -2% over the past year.

Return vs Market: BCGE underperformed the Swiss Market which returned -0.5% over the past year.


Shareholder returns

BCGEIndustryMarket
7 Day-1.4%-1.4%0.5%
30 Day-1.6%-2.9%1.8%
90 Day0.8%6.1%8.9%
1 Year-8.6%-10.4%1.4%-2.0%2.8%-0.5%
3 Year20.5%14.2%16.3%5.2%20.0%7.6%
5 Yearn/a40.2%17.9%35.2%12.6%

Price Volatility Vs. Market

How volatile is Banque Cantonale de Genève's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Banque Cantonale de Genève undervalued compared to its fair value and its price relative to the market?

13.39x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BCGE (CHF180) is trading above our estimate of fair value (CHF109.12)

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


Price To Earnings Ratio

PE vs Industry: BCGE is good value based on its PE Ratio (13.4x) compared to the Banks industry average (15.7x).

PE vs Market: BCGE is good value based on its PE Ratio (13.4x) compared to the Swiss market (19.3x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BCGE is good value based on its PB Ratio (0.8x) compared to the CH Banks industry average (0.9x).


Next Steps

Future Growth

How is Banque Cantonale de Genève forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

25.4%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Banque Cantonale de Genève has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Banque Cantonale de Genève performed over the past 5 years?

5.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BCGE has high quality earnings.

Growing Profit Margin: BCGE's current net profit margins (23%) are higher than last year (22.3%).


Past Earnings Growth Analysis

Earnings Trend: BCGE's earnings have grown by 5.4% per year over the past 5 years.

Accelerating Growth: BCGE's earnings growth over the past year (6.2%) exceeds its 5-year average (5.4% per year).

Earnings vs Industry: BCGE earnings growth over the past year (6.2%) exceeded the Banks industry 1.6%.


Return on Equity

High ROE: BCGE's Return on Equity (5.8%) is considered low.


Next Steps

Financial Health

How is Banque Cantonale de Genève'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: BCGE's Assets to Equity ratio (15x) is moderate.

Allowance for Bad Loans: BCGE has a low allowance for bad loans (53%).

Low Risk Liabilities: 64% of BCGE's liabilities are made up of primarily low risk sources of funding.

Loan Level: BCGE has an appropriate level of Loans to Assets ratio (68%).

Low Risk Deposits: BCGE's Loans to Deposits ratio (114%) is appropriate.

Level of Bad Loans: BCGE has an appropriate level of bad loans (1%).


Next Steps

Dividend

What is Banque Cantonale de Genève current dividend yield, its reliability and sustainability?

2.08%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BCGE's dividend (2.08%) is higher than the bottom 25% of dividend payers in the Swiss market (1.88%).

High Dividend: BCGE's dividend (2.08%) is low compared to the top 25% of dividend payers in the Swiss market (3.84%).


Stability and Growth of Payments

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

Growing Dividend: BCGE's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.6%), BCGE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.9yrs

Average management tenure


CEO

Blaise Goetschin (63yo)

19.75yrs

Tenure

CHF2,099,044

Compensation

Mr. Blaise Goetschin has been the Chairman of the Executive Board and Chief Executive Officer at Banque Cantonale de Genève SA since October 1, 2000. Mr. Goetschin began his professional career in 1982 as  ...


CEO Compensation Analysis

Compensation vs Market: Blaise's total compensation ($USD2.22M) is above average for companies of similar size in the Swiss market ($USD1.17M).

Compensation vs Earnings: Blaise's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Blaise Goetschin
CEO & Chairman of Executive Board19.75yrsCHF2.10m0.24% CHF3.1m
Michel Pasteur
Independent Non-Executive Director & Company Secretary2.17yrsCHF119.76k0.00011% CHF1.4k
Éric Bourgeaux
Head of the Finance19.58yrsno data0.20% CHF2.6m
Jean-Marc Joris
Head of the Operations Division & Member of Executive Board17yrsno data0.034% CHF441.0k
Constantino Cancela
Head of the Asset Management Division & Member of Management Board0.50yrno datano data
Pierrette Klopfenstein
Head of the Geneva Division & Member of Executive Board2.25yrsno data0.012% CHF157.8k
Yves Spörri
Member of Executive Board & Head of the International Clients Division3.5yrsno data0.025% CHF322.8k
Virginie Fauveau
Head of the Corporate Division & Member of Management Board0.50yrno datano data
Yvan Nicolet
Head of General Accountingno datano datano data
Hélène De Vuadens
Head of Communications & Investor Relationsno datano datano data

2.9yrs

Average Tenure

57.5yo

Average Age

Experienced Management: BCGE's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michel Pasteur
Independent Non-Executive Director & Company Secretary2.17yrsCHF119.76k0.00011% CHF1.4k
Gilbert J. Probst
Independent Non-Executive Chairman of the Board3.25yrsCHF313.26k0.00056% CHF7.3k
John Tracey
Independent Non-Executive Director10.17yrsCHF88.17k0.00095% CHF12.4k
Angela de Wolff
Independent Non-Executive Director10.17yrsCHF88.17k0.00095% CHF12.4k
Jean-Marc Mermoud
Independent Non-Executive Director10.17yrsCHF80.80k0.00095% CHF12.4k
Jean Kerr
Independent Non-Executive Vice Chairman of the Board2.17yrsCHF92.46k0.0015% CHF19.5k
Michèle Costafrolaz
Independent Non-Executive Director3.25yrsCHF143.37k0.00022% CHF2.9k
Gina Empson
Independent Non-Executive Director6.17yrsCHF80.50k0.00073% CHF9.5k
Serge Fasel
Independent Non-Executive Director2.17yrsCHF79.91k0.00011% CHF1.4k
Bernard Girod
Independent Non-Executive Director2.17yrsCHF79.91k0.00067% CHF8.8k

3.3yrs

Average Tenure

64.5yo

Average Age

Experienced Board: BCGE's board of directors are considered experienced (3.3 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Banque Cantonale de Genève SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banque Cantonale de Genève SA
  • Ticker: BCGE
  • Exchange: SWX
  • Founded: 1816
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: CHF1.308b
  • Shares outstanding: 7.13m
  • Website: https://www.bcge.ch

Number of Employees


Location

  • Banque Cantonale de Genève SA
  • Quai de l’Ile 17
  • CP 2251
  • Geneva
  • 1211
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BCGESWX (SIX Swiss Exchange)YesRegistered SharesCHCHFFeb 2017
0RMPLSE (London Stock Exchange)YesRegistered SharesGBCHFFeb 2017
1J8NBST (Boerse-Stuttgart)YesRegistered SharesDEEURFeb 2017

Biography

Banque Cantonale de Genève SA provides a range of banking services to private, corporate, and institutional clients. The company offers current and individual accounts, savings accounts, safe deposit boxes, currencies, and bank cards; short, medium, and long term savings products; and pension planning, investment, private banking, housing finance, and consumer financing services. It also provides corporate finance, cash management, export, real estate and construction finance, international commodity trade finance, corporate advisory, and equity finance services. In addition, the company offers finance and cash management, asset management, and advisory services; financial services and market products for banks and insurance companies; and services to independent wealth managers. Further, it is involved in the real estate brokerage, assets transfer, online banking, and companies valuation and selling activities. Additionally, the company provides mortgage lending, and commercial and personal loans, as well as loans for international trade; manages public offerings and placements in the financial markets. It operates through a network of 21 branches and 125 ATMs, as well as operates offices in Lausanne, Zurich, Basel, Lyon, Annecy, Paris, Dubai, and Hong Kong. The company was founded in 1816 and is headquartered in Geneva, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/02 20:58
End of Day Share Price2020/07/02 00:00
Earnings2019/12/31
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.