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Unione di Banche Italiane

LSE:0LBN
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0LBN
LSE
€3B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Unione di Banche Italiane S.p.A., together with subsidiaries, provides banking products and services for retail, private banking, corporate, and institutional customers in Italy and internationally. The last earnings update was 34 days ago. More info.


Add to Portfolio Compare Print
  • Unione di Banche Italiane has significant price volatility in the past 3 months.
0LBN Share Price and Events
7 Day Returns
12.4%
LSE:0LBN
2.4%
GB Banks
1.1%
GB Market
1 Year Returns
-28.9%
LSE:0LBN
-7.1%
GB Banks
2.7%
GB Market
0LBN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Unione di Banche Italiane (0LBN) 12.4% 12% 18.3% -28.9% -22.2% -58.4%
GB Banks 2.4% 3.8% 6.1% -7.1% 18.8% -12.3%
GB Market 1.1% 3.1% 8.5% 2.7% 14.1% 5.7%
1 Year Return vs Industry and Market
  • 0LBN underperformed the Banks industry which returned -7.1% over the past year.
  • 0LBN underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.7% over the past year.
Price Volatility
0LBN
Industry
5yr Volatility vs Market

Value

 Is Unione di Banche Italiane undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Unione di Banche Italiane to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Unione di Banche Italiane.

LSE:0LBN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 9 analysts.
= Stable Book Value * Return on Equity
= €8.40 * 4.7%
€0.40
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. €8.40
Discount Rate (Cost of Equity) See below 19.3%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0LBN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 9%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.591 (1 + (1- 24%) (1275.29%))
4.564
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 9.02%)
19.27%

Discounted Cash Flow Calculation for LSE:0LBN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Unione di Banche Italiane is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0LBN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.7% – 19.27%) * €8.40)
€-1.22
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-1.22 / (19.27% - 1.23%)
€-6.77
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €8.40 + €-6.77
€1.63
LSE:0LBN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0LBN represents 0.99755x of BIT:UBI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99755x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 1.63 x 0.99755
€1.63
Value per share (EUR) From above. €1.63
Current discount Discount to share price of €2.85
= -1 x (€2.85 - €1.63) / €1.63
-74.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Unione di Banche Italiane is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Unione di Banche Italiane's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Unione di Banche Italiane's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0LBN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.34
BIT:UBI Share Price ** BIT (2019-04-17) in EUR €2.85
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.25x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.25x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Unione di Banche Italiane.

LSE:0LBN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:UBI Share Price ÷ EPS (both in EUR)

= 2.85 ÷ 0.34

8.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unione di Banche Italiane is good value based on earnings compared to the GB Banks industry average.
  • Unione di Banche Italiane is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Unione di Banche Italiane's expected growth come at a high price?
Raw Data
LSE:0LBN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
11.1%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:0LBN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.27x ÷ 11.1%

0.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unione di Banche Italiane is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Unione di Banche Italiane's assets?
Raw Data
LSE:0LBN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €8.06
BIT:UBI Share Price * BIT (2019-04-17) in EUR €2.85
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.52x
LSE:0LBN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:UBI Share Price ÷ Book Value per Share (both in EUR)

= 2.85 ÷ 8.06

0.35x

* Primary Listing of Unione di Banche Italiane.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unione di Banche Italiane is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Unione di Banche Italiane's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Unione di Banche Italiane has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Unione di Banche Italiane expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Unione di Banche Italiane expected to grow at an attractive rate?
  • Unione di Banche Italiane's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Unione di Banche Italiane's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Unione di Banche Italiane's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0LBN Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0LBN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 11.1%
LSE:0LBN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 8.8%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0LBN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0LBN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,683 550 7
2020-12-31 3,624 487 9
2019-12-31 3,581 431 9
LSE:0LBN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,796 418 393
2018-09-30 2,830 -207 199
2018-06-30 2,858 -762 207
2018-03-31 2,788 -130 741
2017-12-31 2,579 -1,344 691
2017-09-30 2,479 -577 627
2017-06-30 2,344 141 643
2017-03-31 1,351 511 -805
2016-12-31 1,349 -726 -830
2016-09-30 1,531 -4,276 -804
2016-06-30 1,565 79 -797
2016-03-31 2,379 -5,489 79

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unione di Banche Italiane's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • Unione di Banche Italiane's revenue is expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0LBN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Unione di Banche Italiane Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0LBN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.48 0.53 0.38 5.00
2020-12-31 0.43 0.58 0.34 11.00
2019-12-31 0.38 0.53 0.30 10.00
LSE:0LBN Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.34
2018-09-30 0.17
2018-06-30 0.20
2018-03-31 0.65
2017-12-31 0.61
2017-09-30 0.55
2017-06-30 0.63
2017-03-31
2016-12-31 -0.91
2016-09-30
2016-06-30 -0.89
2016-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unione di Banche Italiane is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Unione di Banche Italiane's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Unione di Banche Italiane has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Unione di Banche Italiane performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Unione di Banche Italiane's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Unione di Banche Italiane has delivered over 20% year on year earnings growth in the past 5 years.
  • Unione di Banche Italiane's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Unione di Banche Italiane's 1-year earnings growth is negative, it can't be compared to the GB Banks industry average.
Earnings and Revenue History
Unione di Banche Italiane's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Unione di Banche Italiane Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0LBN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,795.73 392.77 2,346.72
2018-09-30 2,830.08 198.61 2,192.53
2018-06-30 2,858.41 207.37 2,425.26
2018-03-31 2,788.24 741.18 2,484.01
2017-12-31 2,578.90 690.56 2,450.48
2017-09-30 2,478.66 626.78 2,355.49
2017-06-30 2,343.90 643.03 2,228.41
2017-03-31 1,351.08 -805.17 2,413.89
2016-12-31 1,349.46 -830.15 2,412.36
2016-09-30 1,531.37 -803.84 2,832.33
2016-06-30 1,564.84 -796.99 2,641.11
2016-03-31 2,378.89 78.80 2,249.77
2015-12-31 2,429.19 112.67 2,176.63
2015-09-30 2,246.33 -714.27 2,004.93
2015-06-30 2,244.55 -724.33 1,978.38
2015-03-31 2,355.28 -708.64 2,115.14
2014-12-31 2,334.46 -726.43 2,111.45
2014-09-30 2,341.03 289.91 2,023.48
2014-06-30 2,344.25 315.08 2,050.93
2014-03-31 2,349.37 277.34 2,085.85
2013-12-31 2,274.41 242.03 2,067.56
2013-09-30 2,185.10 -36.47 2,189.15
2013-06-30 2,271.79 -25.89 2,214.45
2013-03-31 2,262.75 1.80 2,231.96
2012-12-31 2,465.36 84.34 2,273.04
2012-09-30 2,707.33 -1,791.23 2,149.34
2012-06-30 2,583.69 -1,932.41 2,169.56

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Unione di Banche Italiane has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Unione di Banche Italiane used its assets less efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Unione di Banche Italiane improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Unione di Banche Italiane's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Unione di Banche Italiane has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Unione di Banche Italiane's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Unione di Banche Italiane's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Unione di Banche Italiane Company Filings, last reported 3 months ago.

LSE:0LBN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 9,214.07 41,333.04 1,293.36
2018-09-30 8,954.13 41,518.41 1,117.89
2018-06-30 9,032.23 42,253.05 1,176.63
2018-03-31 9,360.57 42,946.54 1,125.43
2017-12-31 10,004.87 42,687.33 1,896.89
2017-09-30 10,029.77 44,856.67 3,678.03
2017-06-30 10,023.72 47,385.28 4,160.12
2017-03-31 9,024.38 47,440.31 3,955.88
2016-12-31 9,061.61 46,232.45 1,877.00
2016-09-30 9,372.43 47,708.75 2,051.73
2016-06-30 9,317.98 51,362.38 2,293.05
2016-03-31 10,434.17 52,061.88 2,283.77
2015-12-31 10,517.76 53,915.33 2,982.13
2015-09-30 10,604.89 55,020.47 1,862.66
2015-06-30 10,435.48 57,652.93 2,619.82
2015-03-31 10,634.03 58,914.89 2,954.20
2014-12-31 10,359.07 61,588.61 3,297.40
2014-09-30 11,631.92 59,518.18 2,253.58
2014-06-30 11,532.11 61,258.54 4,159.43
2014-03-31 11,483.21 61,682.60 5,906.97
2013-12-31 11,181.37 63,096.65 4,943.19
2013-09-30 10,846.78 63,042.98 5,174.61
2013-06-30 10,693.94 65,037.32 6,910.61
2013-03-31 10,548.75 65,104.79 7,502.35
2012-12-31 10,577.17 66,097.51 8,721.71
2012-09-30 10,509.02 64,868.14 8,173.29
2012-06-30 10,105.06 68,921.52 9,017.84
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Unione di Banche Italiane has an acceptable proportion of non-loan assets held.
  • Unione di Banche Italiane's liabilities are made up of primarily low risk sources of funding.
  • Unione di Banche Italiane has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Unione di Banche Italiane's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Unione di Banche Italiane has a sufficient allowance for bad loans without relevant financial data.
  • Unione di Banche Italiane has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Unione di Banche Italiane's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Unione di Banche Italiane has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Unione di Banche Italiane's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.21%
Current annual income from Unione di Banche Italiane dividends. Estimated to be 5.5% next year.
If you bought €2,000 of Unione di Banche Italiane shares you are expected to receive €84 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unione di Banche Italiane's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Unione di Banche Italiane's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.07%).
Upcoming dividend payment

Purchase Unione di Banche Italiane before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0LBN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0LBN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.17 12.00
2020-12-31 0.17 15.00
2019-12-31 0.14 15.00
LSE:0LBN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-14 0.120 4.825
2019-02-08 0.120 5.020
2018-03-12 0.110 3.506
2017-03-02 0.110 2.866
2016-03-11 0.110 4.046
2015-03-17 0.080 1.312
2014-03-24 0.060 0.954
2014-03-12 0.060 0.925
2013-03-13 0.050 1.293
2012-04-11 0.050 1.768
2012-03-28 0.050 1.659
2011-08-10 0.150 4.992
2011-06-03 0.150 4.157
2011-05-05 0.150 2.720
2011-04-11 0.150 2.516
2011-03-28 0.150 2.435
2010-03-22 0.300 3.969
2010-03-19 0.300 2.998
2009-04-20 0.450 4.553

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Unione di Banche Italiane's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Unione di Banche Italiane's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Unione di Banche Italiane afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Unione di Banche Italiane has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Unione di Banche Italiane's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Victor Massiah
COMPENSATION €1,486,740
AGE 59
TENURE AS CEO 10.3 years
CEO Bio

Mr. Victor Massiah has been the Chief Executive Officer of Unione di Banche Italiane S.p.A. since December 01, 2008 and General Manager since June 01, 2015. Mr. Massiah serves as the Member of Management Board at Unione di Banche Italiane S.p.A. He served as General Manager of Banca Lombarda E Piemontese since February 1, 2003. He commenced his career when he joined Andersen Consulting in 1982. He became a consultant in the Italian office of McKinsey & Co in 1989. He joined Banco Ambrosiano Veneto in January 1997 and was appointed chief of the entire commercial department in 1998 and then Deputy General Manager. Following the merger of Banco Ambrosiano Veneto and Cariplo, an operation on which he worked and from which BancaIntesa was formed in 1999, he was appointed Chief of the Market Area and Deputy General Manager in January 2001. In August 2001 he was appointed Managing Director of IntesaBci e.Lab. He joined the Banca Lombarda e Piemontese Group in October 2002. From April 1, 2007 to November 30, 2008, he served as General Manager of UBI Banca which was formed from the merger of Banche Popolare Unite and Banca Lombarda e Piemontese. He is member of ABI (Italian Banking Association) Executive Committee and a member of the Board of Directors of Interbank Deposit Protection Fund. He served as a Director at Capitalgest and Istituto Centrale delle Banche Popolari Italiane Spa. Mr. Massiah was awarded a degree in economics and commerce from the “La Sapienza” University of Rome with a thesis on international economics.

CEO Compensation
  • Victor's compensation has been consistent with company performance over the past year.
  • Victor's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Unione di Banche Italiane management team in years:

6
Average Tenure
59
Average Age
  • The average tenure for the Unione di Banche Italiane management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Victor Massiah

TITLE
CEO, GM & Member of Management Board
COMPENSATION
€1M
AGE
59
TENURE
10.3 yrs

Letizia Moratti

TITLE
Chairwoman of Management Board
COMPENSATION
€495K
AGE
69

Flavio Pizzini

TITLE
Deputy Chairman of Management Board
COMPENSATION
€400K
AGE
63
TENURE
3 yrs

Elisabetta Stegher

TITLE
Group CFO & Member of Management Board
COMPENSATION
€532K

Elvio Sonnino

TITLE
Senior Deputy GM
COMPENSATION
€842K
AGE
58
TENURE
6 yrs

Silvia Fidanza

TITLE
Member of Management Board
COMPENSATION
€120K
AGE
44
TENURE
6 yrs

Osvaldo Ranica

TITLE
Member of Management Board
COMPENSATION
€358K
TENURE
3 yrs

Rossella Leidi

TITLE
Deputy GM and Chief Wealth & Welfare Officer
COMPENSATION
€457K
AGE
54
TENURE
12.3 yrs

Frederik Geertman

TITLE
Deputy GM & Chief Commercial Officer
COMPENSATION
€666K
TENURE
2.7 yrs

Gian Toffetti

TITLE
Head of Administration and Depository Bank Macro Area
AGE
72
Board of Directors Tenure

Average tenure and age of the Unione di Banche Italiane board of directors in years:

6
Average Tenure
63.5
Average Age
  • The tenure for the Unione di Banche Italiane board of directors is about average.
Board of Directors

Andrea Moltrasio

TITLE
Supervisory Board Chairman
COMPENSATION
€490K
AGE
62
TENURE
6 yrs

Mario Cera

TITLE
Senior Deputy Chairman of Supervisory Board
COMPENSATION
€376K
AGE
65
TENURE
6 yrs

Pietro Gussalli Beretta

TITLE
Supervisory Board Deputy Chairman
COMPENSATION
€145K
AGE
56
TENURE
3 yrs

Armando Santus

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€167K
AGE
49
TENURE
6 yrs

Emilio Zanetti

TITLE
Honorary Chairman
COMPENSATION
€204K
AGE
87

Gino Trombi

TITLE
Honorary Chairman
COMPENSATION
€219K

Alessandra Del Boca

TITLE
Supervisory Board Member
COMPENSATION
€120K
AGE
71
TENURE
6 yrs

Giovanni Fiori

TITLE
Supervisory Board Member
COMPENSATION
€225K
AGE
57
TENURE
3 yrs

Giannotti Paola

TITLE
Member of Supervisory Board
COMPENSATION
€165K
TENURE
3 yrs

Sergio Pivato

TITLE
Member of Supervisory Board
COMPENSATION
€186K
AGE
73
TENURE
12 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Jul 18 Buy Elvio Sonnino Individual 02. Jul 18 02. Jul 18 14,196 €3.26 €46,309
03. Jul 18 Buy Victor Massiah Individual 02. Jul 18 02. Jul 18 12,267 €3.26 €40,016
X
Management checks
We assess Unione di Banche Italiane's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Unione di Banche Italiane has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Unione di Banche Italiane S.p.A., together with subsidiaries, provides banking products and services for retail, private banking, corporate, and institutional customers in Italy and internationally. The company operates through Banking, Non-Banking Financial, and Corporate Center segments. It offers various deposit and loan products; and asset management advisory, bancassurance, investment advice, leasing, factoring services, and online banking services, as well as credit card, ATMs, and mobile banking services. The company also provides financial instruments placement, payments and settlements, and custody and administration services; manages open-ended and closed-ended mutual investment funds; and engages in trustee activities. In addition, Unione di Banche Italiane S.p.A. sells and purchases real estate properties and trades in gold and jewelry; and offers insurance brokerage, and life and non-life insurance services. As of December 31, 2017, it operated approximately 1,843 branches. The company was formerly known as Banche Popolari Unite Scrl. Unione di Banche Italiane S.p.A. is headquartered in Bergamo, Italy.

Details
Name: Unione di Banche Italiane S.p.A.
0LBN
Exchange: LSE
Founded:
€3,241,081,122
1,136,423,956
Website: http://www.ubibanca.it
Address: Unione di Banche Italiane S.p.A.
Piazza Vittorio Veneto, 8,
Bergamo,
Bergamo, 24122,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT UBI Ordinary Shares Borsa Italiana IT EUR 01. Jul 2003
OTCPK BPPU.F Ordinary Shares Pink Sheets LLC US USD 01. Jul 2003
DB BPD Ordinary Shares Deutsche Boerse AG DE EUR 01. Jul 2003
LSE 0LBN Ordinary Shares London Stock Exchange GB EUR 01. Jul 2003
WBAG UBI Ordinary Shares Wiener Boerse AG AT EUR 01. Jul 2003
BATS-CHIXE UBIM Ordinary Shares BATS 'Chi-X Europe' GB EUR 01. Jul 2003
Number of employees
Current staff
Staff numbers
20,495
Unione di Banche Italiane employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 21:55
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.