BME:BKT

Stock Analysis Report

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Executive Summary

Bankinter, S.A. provides various banking products and services in Spain.


Snowflake Analysis

Adequate balance sheet average dividend payer.


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's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.1%

BKT

4.7%

ES Banks

2.9%

ES Market


1 Year Return

-33.4%

BKT

-41.7%

ES Banks

-18.4%

ES Market

Return vs Industry: BKT exceeded the Spanish Banks industry which returned -44.6% over the past year.

Return vs Market: BKT underperformed the Spanish Market which returned -21.1% over the past year.


Shareholder returns

BKTIndustryMarket
7 Day0.1%4.7%2.9%
30 Day6.1%7.0%0.7%
90 Day37.7%13.0%13.2%
1 Year-30.7%-33.4%-39.8%-41.7%-16.0%-18.4%
3 Year-42.5%-48.1%-56.8%-61.3%-18.6%-25.9%
5 Year-26.0%-36.6%-56.2%-64.0%-10.9%-25.3%

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?

7.38x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BKT (€4.25) is trading above our estimate of fair value (€2.93)

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 (7.4x) compared to the Banks industry average (7.5x).

PE vs Market: BKT is good value based on its PE Ratio (7.4x) compared to the Spanish market (14.9x).


Price to Earnings Growth Ratio

PEG Ratio: BKT is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: BKT is overvalued based on its PB Ratio (0.8x) compared to the ES Banks industry average (0.3x).


Next Steps

Future Growth

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

17.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BKT's forecast earnings growth (17.8% per year) is above the savings rate (1.3%).

Earnings vs Market: BKT's earnings (17.8% per year) are forecast to grow slower than the Spanish market (21.3% per year).

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

Revenue vs Market: BKT's revenue (2.4% per year) is forecast to grow slower than the Spanish market (5.6% per year).

High Growth Revenue: BKT's revenue (2.4% 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 (7.8%).


Next Steps

Past Performance

How has Bankinter performed over the past 5 years?

8.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BKT has high quality earnings.

Growing Profit Margin: BKT's current net profit margins (27.3%) are lower than last year (28.6%).


Past Earnings Growth Analysis

Earnings Trend: BKT's earnings have grown by 8.7% per year over the past 5 years.

Accelerating Growth: BKT's earnings growth over the past year (4.8%) is below its 5-year average (8.7% per year).

Earnings vs Industry: BKT earnings growth over the past year (4.8%) exceeded the Banks industry -21.2%.


Return on Equity

High ROE: BKT's Return on Equity (11.3%) 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 (18.6x) is moderate.

Allowance for Bad Loans: BKT has a low allowance for bad loans (44%).

Low Risk Liabilities: 81% 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 (72%).

Low Risk Deposits: BKT's Loans to Deposits ratio (94%) is appropriate.

Level of Bad Loans: BKT has a high level of bad loans (2.8%).


Next Steps

Dividend

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

6.89%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BKT's dividend (6.89%) is higher than the bottom 25% of dividend payers in the Spanish market (2.54%).

High Dividend: BKT's dividend (6.89%) is low compared to the top 25% of dividend payers in the Spanish market (7.34%).


Stability and Growth of Payments

Stable Dividend: BKT's dividend payments have been volatile in the past 10 years.

Growing Dividend: BKT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (39.3%), BKT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BKT's dividends in 3 years are forecast to be well covered by earnings (49.4% payout ratio).


Next Steps

Management

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

10.6yrs

Average board tenure


CEO

María Dolores Dancausa Treviño

9.75yrs

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 ($USD1.24M) is below average for companies of similar size in the Spanish market ($USD2.00M).

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


Board Members

NamePositionTenureCompensationOwnership
Pedro Guerrero Guerrero
Chairman13.25yrs€234.86k0.34% 13.1m
María Dolores Dancausa Treviño
CEO & Executive Director9.75yrs€1.11m0.13% 5.0m
Alfonso Botín-Sanz de Sautuola y Naveda
Executive Vice President of Board13.25yrs€204.93kno data
Marcelino Botín-Sanz de Sautuola y Naveda
Director15.25yrs€113.02k0.028% 1.1m
Rafael Mateu de Ros Cerezo
Independent Director11.5yrs€170.90k0.10% 3.9m
Fernando María Masaveu Herrero
Director14.83yrs€120.72k0.086% 3.3m
María Teresa Pulido Mendoza
Independent External Director6yrs€111.91k0.0013% 51.2k
Teresa Retortillo
External Independent Director2.67yrs€124.02kno data
Álvaro Álvarez-Alonso Plaza
External Independent Director1.33yrs€92.74kno data
María Luisa Jordá Castro
External Independent Director1.33yrs€96.05k0.0011% 42.4k

10.6yrs

Average Tenure

58yo

Average Age

Experienced Board: BKT's board of directors are seasoned and experienced ( 10.6 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: €3.819b
  • 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 in Spain. The company operates through Commercial Banking, Private Banking, Personal Banking, Individual Banking, Foreigners, Corporate Banking, Consumer Finance, Línea Directa Aseguradora, Bankinter Portugal, and Other Businesses segments. It offers salary, professional, private bank, and personal finance accounts, as well as deposit products, such as fixed term, customized, increment, and structured deposits. The company also provides investment products and services that include investment funds, pension plans, unit linked products, and securities portfolios, as well as asset management services; and cards and loan products. In addition, it offers various services, such as property management services; telephone assistance services; consulting services; insurance intermediary services; vehicle check and travel assistance services; venture capital and fund management services; vehicle repair services, as well as services for motorcycle users; private banking services; and brokerage services, as well as operates as a credit institution. Further, the company issues preference shares and bonds. As of December 31, 2018, it operated through a network of 444 branches and 363 agents. The company was formerly known as Banco Intercontinental Español, S.A. and changed its name to Bankinter, S.A. in July 1990. Bankinter, S.A. was founded in 1965 and is headquartered in Madrid, Spain. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/02 20:53
End of Day Share Price2020/07/02 00:00
Earnings2020/03/31
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.