DB:2A41

Stock Analysis Report

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Aktia Pankki Oyj

Executive Summary

Aktia Pankki Oyj provides banking and financing to individuals, corporates, and institutions in Finland.


Snowflake Analysis

Adequate balance sheet average dividend payer.

Share Price & News

How has Aktia Pankki Oyj's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2A41 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.4%

2A41

6.0%

DE Banks

2.6%

DE Market


1 Year Return

1.6%

2A41

-1.3%

DE Banks

8.1%

DE Market

Return vs Industry: 2A41 exceeded the German Banks industry which returned -1.3% over the past year.

Return vs Market: 2A41 underperformed the German Market which returned 8.1% over the past year.


Shareholder returns

2A41IndustryMarket
7 Day2.4%6.0%2.6%
30 Day-0.5%2.8%0.6%
90 Day7.8%40.0%11.5%
1 Year1.6%1.6%-1.3%-1.3%10.5%8.1%
3 Yearn/a-46.2%-48.2%6.3%-2.1%
5 Yearn/a-34.7%-50.1%15.2%-0.3%

Price Volatility Vs. Market

How volatile is Aktia Pankki Oyj's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Aktia Pankki Oyj undervalued compared to its fair value and its price relative to the market?

12.17x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2A41 (€8.71) is trading above our estimate of fair value (€7.99)

Significantly Below Fair Value: 2A41 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2A41 is good value based on its PE Ratio (12.2x) compared to the DE Banks industry average (20.5x).

PE vs Market: 2A41 is good value based on its PE Ratio (12.2x) compared to the German market (21.5x).


Price to Earnings Growth Ratio

PEG Ratio: 2A41 is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: 2A41 is overvalued based on its PB Ratio (1x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is Aktia Pankki Oyj forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

17.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2A41's forecast earnings growth (17.7% per year) is above the savings rate (0.2%).

Earnings vs Market: 2A41's earnings (17.7% per year) are forecast to grow slower than the German market (23.6% per year).

High Growth Earnings: 2A41's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2A41's revenue (11.7% per year) is forecast to grow faster than the German market (5.8% per year).

High Growth Revenue: 2A41's revenue (11.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2A41's Return on Equity is forecast to be low in 3 years time (10.5%).


Next Steps

Past Performance

How has Aktia Pankki Oyj performed over the past 5 years?

0.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2A41 has a large one-off gain of €66.5M impacting its June 30 2020 financial results.

Growing Profit Margin: 2A41's current net profit margins (33.5%) are lower than last year (34.2%).


Past Earnings Growth Analysis

Earnings Trend: 2A41's earnings have grown by 0.9% per year over the past 5 years.

Accelerating Growth: 2A41's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2A41 had negative earnings growth (-31%) over the past year, making it difficult to compare to the Banks industry average (1.4%).


Return on Equity

High ROE: 2A41's Return on Equity (6.7%) is considered low.


Next Steps

Financial Health

How is Aktia Pankki Oyj'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: 2A41's Assets to Equity ratio (16.4x) is moderate.

Allowance for Bad Loans: 2A41 has a low allowance for bad loans (72%).

Low Risk Liabilities: 53% of 2A41's liabilities are made up of primarily low risk sources of funding.

Loan Level: 2A41 has an appropriate level of Loans to Assets ratio (64%).

Low Risk Deposits: 2A41's Loans to Deposits ratio (128%) is high.

Level of Bad Loans: 2A41 has an appropriate level of bad loans (0.7%).


Next Steps

Dividend

What is Aktia Pankki Oyj current dividend yield, its reliability and sustainability?

7.18%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2A41's dividend (7.18%) is higher than the bottom 25% of dividend payers in the German market (1.23%).

High Dividend: 2A41's dividend (7.18%) is in the top 25% of dividend payers in the German market (3.78%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 2A41 has been paying a dividend for less than 10 years.

Growing Dividend: 2A41's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (87.5%), 2A41's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2A41's dividends in 3 years are forecast to be covered by earnings (73.4% payout ratio).


Next Steps

Management

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

1.2yrs

Average management tenure


CEO

Mikko Ayub (51 yo)

1.83yrs

Tenure

€427,000

Compensation

Mr. Mikko Ayub, M.Sc., MBA, serves as Chief Executive Officer at Aktia Pankki Oyj since October 1, 2018 and serves as its Managing Director. Mr. Ayub serves as President of Aktia Pankki Oyj since 2019. Mr. ...


CEO Compensation Analysis

Compensation vs Market: Mikko's total compensation ($USD503.30K) is below average for companies of similar size in the German market ($USD1.33M).

Compensation vs Earnings: Mikko's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Mikko Ayub
CEO, President & MD1.83yrs€427.00k0.000050%
€ 307.4
Juha Hammarén
Executive VP & Deputy CEO0.75yr€540.00k0.023%
€ 142.0k
Outi Henriksson
Executive VP & CFO3yrsno data0.0068%
€ 42.0k
Anu Tuomolin
Executive VP & COO0.75yrno data0.0037%
€ 22.9k
Juha Volotinen
Chief Information Officer & Executive VP3.08yrsno data0.010%
€ 63.2k
Lotta Borgström
Director of Investor Relations & Communicationsno datano datano data
Mia Bengts
General Counselno datano datano data
Carola Nilsson
Executive VP of Private Customers & Acting Director of Corporate Customersno datano data0.0052%
€ 31.7k
Max Sundström
Executive Vice President of Concept & strategy1.58yrsno datano data
Niina Bergring
Executive Vice President of Asset Management0.58yrno datano data
Petteri Arinen
Head of Sales for Institutional Clients in Asset Management0.58yrno datano data
Timo Ruotsalainen
Head of Treasuryno datano datano data

1.2yrs

Average Tenure

50yo

Average Age

Experienced Management: 2A41's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Arja Talma
Independent Vice Chairman of the Board2.33yrs€63.00k0.0083%
€ 51.0k
Johan Hammarén
Independent Director1.33yrs€39.00kno data
Johannes Schulman
Independent Director2.33yrs€49.00k0.0020%
€ 12.5k
Harri Lauslahti
Independent Director0.33yrno datano data
Christina Dahlblom
Director4.58yrs€50.00k0.0052%
€ 32.1k
Maria Engström
Independent Director2.33yrs€52.00k0.0019%
€ 11.6k
Kari A. Järvinen
Director0.33yrno datano data
Lasse Svens
Independent Chairman of the Board2.33yrs€101.00k0.0086%
€ 52.7k
Olli-Petteri Lehtinen
Independent Director0.33yrno datano data

2.3yrs

Average Tenure

58yo

Average Age

Experienced Board: 2A41's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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

Aktia Pankki Oyj's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aktia Pankki Oyj
  • Ticker: 2A41
  • Exchange: DB
  • Founded: 1825
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: €614.848m
  • Shares outstanding: 70.11m
  • Website: https://www.aktia.fi

Number of Employees


Location

  • Aktia Pankki Oyj
  • Mannerheimintie 14
  • PO Box 207
  • Helsinki
  • Uusimaa
  • 101
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AKTIAHLSE (OMX Nordic Exchange Helsinki)YesSeries A SharesFIEURFeb 2012
AKTAVHBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A SharesGBEURFeb 2012
0QF8LSE (London Stock Exchange)YesSeries A SharesGBEURFeb 2012
AKTIAHBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A SharesGBEURFeb 2012
2A41DB (Deutsche Boerse AG)YesSeries A SharesDEEURFeb 2012

Biography

Aktia Pankki Oyj provides banking and financing to individuals, corporates, and institutions in Finland. It operates through three segments: Banking Business, Asset Management, and Group Functions. The com ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/08 21:52
End of Day Share Price2020/08/07 00:00
Earnings2020/06/30
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.