Executive Summary
ProCredit Holding AG & Co. KGaA, through its subsidiaries, provides commercial banking services for small and medium enterprises and private customers in Europe, South America, and Germany. More Details
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with excellent balance sheet and pays a dividend.
Similar Companies
Share Price & News
How has ProCredit Holding KGaA's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PCZ is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: PCZ's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
-4.3%
PCZ
3.6%
DE Banks
0.5%
DE Market
1 Year Return
16.3%
PCZ
8.1%
DE Banks
21.4%
DE Market
Return vs Industry: PCZ exceeded the German Banks industry which returned 8% over the past year.
Return vs Market: PCZ underperformed the German Market which returned 21.5% over the past year.
Shareholder returns
| PCZ | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.3% | 3.6% | 0.5% |
| 30 Day | 10.6% | 9.5% | -1.4% |
| 90 Day | 17.2% | 9.8% | 6.8% |
| 1 Year | 16.3%16.3% | 9.6%8.1% | 25.2%21.4% |
| 3 Year | -27.7%-31.7% | -19.6%-27.7% | 14.6%4.7% |
| 5 Year | n/a | 1.8%-20.0% | 45.1%24.5% |
Long-Term Price Volatility Vs. Market
How volatile is ProCredit Holding KGaA's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Is ProCredit Holding AG & Co. KGaA (ETR:PCZ) A Smart Pick For Income Investors?1 month ago | Simply Wall St
What Type Of Shareholders Make Up ProCredit Holding AG & Co. KGaA's (ETR:PCZ) Share Registry?2 months ago | Simply Wall St
ProCredit Holding KGaA (ETR:PCZ) Share Prices Have Dropped 44% In The Last Three YearsValuation
Is ProCredit Holding KGaA undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PCZ (€7.85) is trading below our estimate of fair value (€17.02)
Significantly Below Fair Value: PCZ is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PCZ is good value based on its PE Ratio (9.4x) compared to the XE Banks industry average (12.5x).
PE vs Market: PCZ is good value based on its PE Ratio (9.4x) compared to the German market (25.3x).
Price to Earnings Growth Ratio
PEG Ratio: PCZ is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: PCZ's PB Ratio (0.6x) is in line with the XE Banks industry average.
Next Steps
Future Growth
How is ProCredit Holding KGaA forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
23.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PCZ's forecast earnings growth (23.1% per year) is above the savings rate (0.07%).
Earnings vs Market: PCZ's earnings (23.1% per year) are forecast to grow faster than the German market (22.1% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: PCZ's revenue (8.7% per year) is forecast to grow faster than the German market (6.1% per year).
High Growth Revenue: PCZ's revenue (8.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PCZ's Return on Equity is forecast to be low in 3 years time (9.6%).
Next Steps
Past Performance
How has ProCredit Holding KGaA performed over the past 5 years?
8.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PCZ has high quality earnings.
Growing Profit Margin: PCZ's current net profit margins (20.6%) are lower than last year (24.1%).
Past Earnings Growth Analysis
Earnings Trend: PCZ's earnings have grown by 8.4% per year over the past 5 years.
Accelerating Growth: PCZ's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PCZ had negative earnings growth (-18.9%) over the past year, making it difficult to compare to the Banks industry average (-19.1%).
Return on Equity
High ROE: PCZ's Return on Equity (6.2%) is considered low.
Next Steps
Financial Health
How is ProCredit Holding KGaA'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: PCZ's Assets to Equity ratio (9.1x) is low.
Allowance for Bad Loans: PCZ has a sufficient allowance for bad loans (102%).
Low Risk Liabilities: 74% of PCZ's liabilities are made up of primarily low risk sources of funding.
Loan Level: PCZ has an appropriate level of Loans to Assets ratio (74%).
Low Risk Deposits: PCZ's Loans to Deposits ratio (113%) is appropriate.
Level of Bad Loans: PCZ has a high level of bad loans (2.2%).
Next Steps
Dividend
What is ProCredit Holding KGaA current dividend yield, its reliability and sustainability?
3.82%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PCZ's dividend (3.82%) is higher than the bottom 25% of dividend payers in the German market (0.9%).
High Dividend: PCZ's dividend (3.82%) is in the top 25% of dividend payers in the German market (3.37%)
Stability and Growth of Payments
Stable Dividend: PCZ has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: PCZ has only been paying a dividend for 4 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (35.9%), PCZ's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PCZ's dividends in 3 years are forecast to be well covered by earnings (44.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.5yrs
Average board tenure
CEO
ProCredit Holding KGaA has no CEO, or we have no data on them.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Supervisory Board Vice Chairman | 1.17yrs | no data | no data | |
| Supervisory Board Chairman | 17.17yrs | no data | no data | |
| Supervisory Board Member | 7.17yrs | no data | no data | |
| Supervisory Board Member | 7.17yrs | no data | no data | |
| Supervisory Board Member | 3.83yrs | no data | no data | |
| Member of Supervisory Board | 0.83yr | no data | no data |
5.5yrs
Average Tenure
63yo
Average Age
Experienced Board: PCZ's board of directors are considered experienced (5.5 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
ProCredit Holding AG & Co. KGaA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: ProCredit Holding AG & Co. KGaA
- Ticker: PCZ
- Exchange: XTRA
- Founded: 1998
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: €462.353m
- Shares outstanding: 58.90m
- Website: https://www.procredit-holding.com
Number of Employees
Location
- ProCredit Holding AG & Co. KGaA
- Rohmerplatz 33-37
- Frankfurt am Main
- Hessen
- 60486
- Germany
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PCZ | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 2016 |
| 0RL9 | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Dec 2016 |
| PCZ | XTRA (XETRA Trading Platform) | Yes | Ordinary Shares | DE | EUR | Dec 2016 |
| PRRC.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Dec 2016 |
Biography
ProCredit Holding AG & Co. KGaA, through its subsidiaries, provides commercial banking services for small and medium enterprises and private customers in Europe, South America, and Germany. The company's f...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/07 19:27 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.