BME:LBK

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Executive Summary

Liberbank, S.A. provides various banking products and services for households, SMEs, and self-employed customers in Spain and internationally. More Details


Snowflake Analysis

Good value with adequate balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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

Volatility Over Time: LBK'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

-2.7%

LBK

7.5%

ES Banks

0.6%

ES Market


1 Year Return

-17.3%

LBK

-20.6%

ES Banks

-8.8%

ES Market

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

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


Shareholder returns

LBKIndustryMarket
7 Day-2.7%7.5%0.6%
30 Day17.7%47.6%18.7%
90 Day12.8%36.8%16.2%
1 Year-17.3%-17.3%-19.2%-20.6%-6.2%-8.8%
3 Year-37.7%-38.6%-43.8%-48.8%-7.7%-16.0%
5 Year-72.2%-84.7%-34.1%-45.3%3.2%-12.5%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

10.23x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: LBK (€0.27) is trading above our estimate of fair value (€0.06)

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


Price To Earnings Ratio

PE vs Industry: LBK is good value based on its PE Ratio (10.2x) compared to the ES Banks industry average (12.9x).

PE vs Market: LBK is good value based on its PE Ratio (10.2x) compared to the Spanish market (22.1x).


Price to Earnings Growth Ratio

PEG Ratio: LBK is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: LBK is good value based on its PB Ratio (0.3x) compared to the ES Banks industry average (0.4x).


Next Steps

Future Growth

How is Liberbank forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

21.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LBK's forecast earnings growth (21.5% per year) is above the savings rate (1.3%).

Earnings vs Market: LBK's earnings (21.5% per year) are forecast to grow slower than the Spanish market (35.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: LBK's revenue is expected to decline over the next 3 years (-0.9% per year).

High Growth Revenue: LBK's revenue is forecast to decline over the next 3 years (-0.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LBK's Return on Equity is forecast to be low in 3 years time (3.2%).


Next Steps

Past Performance

How has Liberbank performed over the past 5 years?

-1.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LBK has high quality earnings.

Growing Profit Margin: LBK's current net profit margins (13.2%) are lower than last year (18%).


Past Earnings Growth Analysis

Earnings Trend: LBK's earnings have declined by 1.8% per year over the past 5 years.

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

Earnings vs Industry: LBK had negative earnings growth (-22%) over the past year, making it difficult to compare to the Banks industry average (-44%).


Return on Equity

High ROE: LBK's Return on Equity (2.3%) is considered low.


Next Steps

Financial Health

How is Liberbank'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: LBK's Assets to Equity ratio (14.5x) is moderate.

Allowance for Bad Loans: LBK has a low allowance for bad loans (50%).

Low Risk Liabilities: 92% of LBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: LBK has an appropriate level of Loans to Assets ratio (59%).

Low Risk Deposits: LBK's Loans to Deposits ratio (69%) is appropriate.

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


Next Steps

Dividend

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

2.60%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: LBK's dividend (2.6%) is higher than the bottom 25% of dividend payers in the Spanish market (2.19%).

High Dividend: LBK's dividend (2.6%) is low compared to the top 25% of dividend payers in the Spanish market (6.54%).


Stability and Growth of Payments

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

Growing Dividend: LBK has only been paying a dividend for 2 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.6%), LBK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LBK's dividends in 3 years are forecast to be well covered by earnings (28% payout ratio).


Next Steps

Management

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

6.2yrs

Average board tenure


CEO

Manuel Menendez Menendez (61 yo)

no data

Tenure

€441,000

Compensation

Mr. Manuel Menéndez Menéndez serves as Chief Executive Officer of Liberbank, SA since 2014 and also serves as its Director since May 5, 2011. He serves as the President of the Board of Directors at CAJA DE...


CEO Compensation Analysis

Compensation vs Market: Manuel's total compensation ($USD535.19K) is below average for companies of similar size in the Spanish market ($USD2.04M).

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


Board Members

NamePositionTenureCompensationOwnership
Manuel Menendez Menendez
CEO & Directorno data€441.00k0.059%
€ 477.1k
Jorge Delclaux Bravo
Independent Director9yrs€140.00kno data
Felipe Fernandez Fernandez
Director9.58yrs€110.00k0.011%
€ 90.5k
Maria Luisa Garana Corces
Independent Director5.67yrs€140.00k0.0061%
€ 49.3k
Víctor Manuel Bravo Canadas
Director9.58yrs€83.00kno data
Maria Encarnacion Paredes Rodriguez
Director7.92yrs€110.00k0.0082%
€ 65.8k
Pedro Manuel Rivero Torre
Independent President of the Board6.17yrs€190.00k0.0082%
€ 65.8k
David Vaamonde Juanatey
Director2.75yrsno data0.018%
€ 148.0k
Ernesto Luis Tinajero Flores
Director5.67yrs€110.00kno data
Luis Masaveu Herrero
Director5.67yrs€110.00k0.13%
€ 1.1m
María Grecna
Independent External Director0.83yrno datano data

6.2yrs

Average Tenure

61yo

Average Age

Experienced Board: LBK's board of directors are considered experienced (6.2 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

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


Key Information

  • Name: Liberbank, S.A.
  • Ticker: LBK
  • Exchange: BME
  • Founded: 2011
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €805.851m
  • Shares outstanding: 2.98b
  • Website: https://www.liberbank.es

Number of Employees


Location

  • Liberbank, S.A.
  • Camino Fuente de la Mora, 5
  • Madrid
  • Madrid
  • 28050
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LBKBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURMay 2013
L6BADB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 2013
0RE4LSE (London Stock Exchange)YesOrdinary SharesGBEURMay 2013
LBKEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMay 2013
LBBR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 2013

Biography

Liberbank, S.A. provides various banking products and services for households, SMEs, and self-employed customers in Spain and internationally. The company offers deposits and accounts; cards; mortgages and...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/04 18:47
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.