BME:BKT

Stock Analysis Report

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Executive Summary

Bankinter, S.A. provides various banking products and services to individuals and corporate customers, and small- and medium-sized enterprises in Spain. More Details


Snowflake Analysis

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has Bankinter's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BKT is more volatile than 75% of Spanish stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: BKT's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of Spanish stocks.


Market Performance


7 Day Return

7.3%

BKT

7.5%

ES Banks

0.6%

ES Market


1 Year Return

-31.5%

BKT

-20.6%

ES Banks

-8.8%

ES Market

Return vs Industry: BKT underperformed the Spanish Banks industry which returned -20.6% over the past year.

Return vs Market: BKT underperformed the Spanish Market which returned -8.8% over the past year.


Shareholder returns

BKTIndustryMarket
7 Day7.3%7.5%0.6%
30 Day36.5%47.6%18.7%
90 Day-0.8%36.8%16.2%
1 Year-29.3%-31.5%-19.2%-20.6%-6.2%-8.8%
3 Year-38.3%-43.9%-43.8%-48.8%-7.7%-16.0%
5 Year-20.8%-31.7%-34.1%-45.3%3.2%-12.5%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Bankinter undervalued compared to its fair value and its price relative to the market?

12.81x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BKT (€4.48) is trading above our estimate of fair value (€2.38)

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


Price To Earnings Ratio

PE vs Industry: BKT is good value based on its PE Ratio (12.8x) compared to the ES Banks industry average (12.9x).

PE vs Market: BKT is good value based on its PE Ratio (12.8x) compared to the Spanish market (22.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BKT is overvalued based on its PB Ratio (0.9x) compared to the ES Banks industry average (0.4x).


Next Steps

Future Growth

How is Bankinter forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

17.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BKT's forecast earnings growth (17.3% per year) is above the savings rate (1.3%).

Earnings vs Market: BKT's earnings (17.3% per year) are forecast to grow slower than the Spanish market (35.8% per year).

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

Revenue vs Market: BKT's revenue (0.2% per year) is forecast to grow slower than the Spanish market (6.5% per year).

High Growth Revenue: BKT's revenue (0.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BKT's Return on Equity is forecast to be low in 3 years time (8%).


Next Steps

Past Performance

How has Bankinter performed over the past 5 years?

1.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BKT has a large one-off loss of €258.5M impacting its September 30 2020 financial results.

Growing Profit Margin: BKT's current net profit margins (16.7%) are lower than last year (29.7%).


Past Earnings Growth Analysis

Earnings Trend: BKT's earnings have grown by 1.6% per year over the past 5 years.

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

Earnings vs Industry: BKT had negative earnings growth (-37.3%) over the past year, making it difficult to compare to the Banks industry average (-44%).


Return on Equity

High ROE: BKT's Return on Equity (6.9%) is considered low.


Next Steps

Financial Health

How is Bankinter'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: BKT's Assets to Equity ratio (19.7x) is moderate.

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

Low Risk Liabilities: 82% of BKT's liabilities are made up of primarily low risk sources of funding.

Loan Level: BKT has an appropriate level of Loans to Assets ratio (70%).

Low Risk Deposits: BKT's Loans to Deposits ratio (90%) is appropriate.

Level of Bad Loans: BKT has a high level of bad loans (2.7%).


Next Steps

Dividend

What is Bankinter current dividend yield, its reliability and sustainability?

3.02%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate BKT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BKT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BKT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BKT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: BKT is not paying a notable dividend for the Spanish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BKT's dividend in 3 years as they are not forecast to pay a notable one for the Spanish market.


Next Steps

Management

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

10.2yrs

Average management tenure


CEO

María Dolores Dancausa Treviño

10.17yrs

Tenure

€1,106,299

Compensation

Ms. María Dolores Dancausa Treviño serves as General Manager at Linea Directa Aseguradora, S.A. Ms. Dancausa Treviño has been the Chief Executive Officer and Executive Director of Bankinter, S.A. since Oct...


CEO Compensation Analysis

Compensation vs Market: María Dolores's total compensation ($USD1.34M) is about average for companies of similar size in the Spanish market ($USD1.20M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Pedro Guerrero Guerrero
Chairman13.67yrs€234.86k0.34%
€ 13.4m
María Dolores Dancausa Treviño
CEO & Executive Director10.17yrs€1.11m0.13%
€ 5.1m
Alfonso Botín-Sanz de Sautuola y Naveda
Executive Vice President of Board13.67yrs€204.93kno data
Jacobo Díaz Garcia
CFO and Area Director for Corporate Developmentno datano datano data
Iñigo Guerra Azcona
Director General of Investment Banking Areano datano datano data
David López Finistrosa
Director of Investor Relationsno datano datano data
María Paramés
Head of Employeesno datano datano data
Alfonso Ma Saez
Head of Consumer Financeno datano datano data
Julio Gabriel Zapatero Gaviria
Director General & Chief Risk Officerno datano datano data
Ruben Muñoz
Head of Treasury & Capital Marketsno datano datano data
Gloria Díaz
Company Secretary5.58yrsno datano data

10.2yrs

Average Tenure

Experienced Management: BKT's management team is seasoned and experienced (10.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Pedro Guerrero Guerrero
Chairman13.67yrs€234.86k0.34%
€ 13.4m
María Dolores Dancausa Treviño
CEO & Executive Director10.17yrs€1.11m0.13%
€ 5.1m
Alfonso Botín-Sanz de Sautuola y Naveda
Executive Vice President of Board13.67yrs€204.93kno data
Marcelino Botín-Sanz de Sautuola y Naveda
Director15.67yrs€113.02k0.028%
€ 1.1m
Rafael Mateu de Ros Cerezo
Independent Director11.92yrs€170.90k0.10%
€ 4.0m
Fernando María Masaveu Herrero
Director15.25yrs€120.72k0.086%
€ 3.4m
María Teresa Pulido Mendoza
Independent External Director6.42yrs€111.91k0.0013%
€ 52.1k
Teresa Retortillo
External Independent Director3.08yrs€124.02kno data
Álvaro Álvarez-Alonso Plaza
External Independent Director1.75yrs€92.74kno data
María Luisa Jordá Castro
External Independent Director1.75yrs€96.05k0.0011%
€ 43.2k
Fernando Francés Pons
Independent External Director0.75yrno datano data

10.2yrs

Average Tenure

58yo

Average Age

Experienced Board: BKT's board of directors are seasoned and experienced ( 10.2 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bankinter, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bankinter, S.A.
  • Ticker: BKT
  • Exchange: BME
  • Founded: 1965
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €3.890b
  • Shares outstanding: 898.72m
  • Website: https://www.bankinter.com

Number of Employees


Location

  • Bankinter, S.A.
  • Paseo de la Castellana 29
  • Madrid
  • Madrid
  • 28046
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BKTBME (Bolsas y Mercados Espanoles)YesNominative SharesESEURApr 1985
0H7OLSE (London Stock Exchange)YesNominative SharesGBEURApr 1985
BKIM.FOTCPK (Pink Sheets LLC)YesNominative SharesUSUSDApr 1985
BAKADB (Deutsche Boerse AG)YesNominative SharesDEEURApr 1985
BKTEBATS-CHIXE (BATS 'Chi-X Europe')YesNominative SharesGBEURApr 1985
BKTWBAG (Wiener Boerse AG)YesNominative SharesATEURApr 1985
BKT NBMV (Bolsa Mexicana de Valores)YesNominative SharesMXMXNApr 1985
BKNI.YOTCPK (Pink Sheets LLC)SPONS ADR 07USUSDSep 1995

Biography

Bankinter, S.A. provides various banking products and services to individuals and corporate customers, and small- and medium-sized enterprises in Spain. The company operates through Commercial Banking, Pri...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/04 19:43
End of Day Share Price2020/12/04 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.