Hingham Institution for Savings Valuation

Q: What is the Fair Price of HS3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

HS3 (€262) is trading below our estimate of [[fair value]] (€326.15)

Is HS3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HS3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HS3 (€262) is trading below our estimate of fair value (€326.15)

Significantly Below Fair Value: HS3 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HS3?

Key metric: As HS3 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HS3. This is calculated by dividing HS3's market cap by their current earnings.
What is HS3's PE Ratio?
PE Ratio	26.6x
Earnings	US$23.13m
Market Cap	US$619.98m

HS3 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does HS3's PE Ratio compare to its peers?

The above table shows the PE ratio for HS3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	18.6x
PCZ ProCredit Holding	4.4x	10.7%	€461.8m
MBK Merkur PrivatBank KgaA	10x	8.6%	€108.9m
1916 Jiangxi Bank	41.3x	n/a	HK$4.3b
BSLI4 BRB - Banco de Brasília	18.7x	n/a	R$3.3b
HS3 Hingham Institution for Savings	26.6x	n/a	€620.0m

Price-To-Earnings vs Peers: HS3 is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the peer average (18.6x).

Price to Earnings Ratio vs Industry

How does HS3's PE Ratio compare vs other companies in the European Banks Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: HS3 is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is HS3's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HS3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	26.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HS3's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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