ATSE:ALPHA

Stock Analysis Report

Executive Summary

Alpha Bank A.E., together with its subsidiaries, provides various banking and financial products and services to individuals, professionals, and companies in Greece and internationally.

Rewards

Earnings are forecast to grow 32.28% per year

Became profitable this year

Risk Analysis

No risks detected for ALPHA from our risk checks.


Snowflake Analysis

Adequate balance sheet with acceptable track record.


Similar Companies

Share Price & News

How has Alpha Bank A.E's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ALPHA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.9%

ALPHA

-2.0%

GR Banks

-0.7%

GR Market


1 Year Return

50.1%

ALPHA

93.5%

GR Banks

32.5%

GR Market

Return vs Industry: ALPHA underperformed the Greek Banks industry which returned 93.5% over the past year.

Return vs Market: ALPHA exceeded the Greek Market which returned 32.5% over the past year.


Shareholder returns

ALPHAIndustryMarket
7 Day1.9%-2.0%-0.7%
30 Day4.7%4.2%2.3%
90 Day12.7%9.3%5.2%
1 Year50.1%50.1%93.5%93.5%37.0%32.5%
3 Year8.7%8.7%7.5%7.5%51.6%38.3%
5 Year-92.7%-92.7%-3.5%-26.6%-72.1%-73.0%

Price Volatility Vs. Market

How volatile is Alpha Bank A.E's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Alpha Bank A.E undervalued compared to its fair value and its price relative to the market?

31.8x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ALPHA (€1.87) is trading above our estimate of fair value (€0.23)

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


Price To Earnings Ratio

PE vs Industry: ALPHA is poor value based on its PE Ratio (31.8x) compared to the Banks industry average (13.1x).

PE vs Market: ALPHA is poor value based on its PE Ratio (31.8x) compared to the Greek market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: ALPHA is good value based on its PEG Ratio (1x)


Price to Book Ratio

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


Next Steps

Future Growth

How is Alpha Bank A.E forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

32.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALPHA's forecast earnings growth (32.3% per year) is above the savings rate (1.9%).

Earnings vs Market: ALPHA's earnings (32.3% per year) are forecast to grow faster than the Greek market (19.5% per year).

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

Revenue vs Market: ALPHA's revenue (0.05% per year) is forecast to grow slower than the Greek market (4.5% per year).

High Growth Revenue: ALPHA's revenue (0.05% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ALPHA's Return on Equity is forecast to be low in 3 years time (3.6%).


Next Steps

Past Performance

How has Alpha Bank A.E performed over the past 5 years?

59.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALPHA has high quality earnings.

Growing Profit Margin: ALPHA became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ALPHA has become profitable over the past 5 years, growing earnings by 59.7% per year.

Accelerating Growth: ALPHA has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ALPHA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Banks industry (6.9%).


Return on Equity

High ROE: ALPHA's Return on Equity (1.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Alpha Bank A.E'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

Inventory Level: ALPHA has a low level of unsold assets or inventory.

Debt Coverage by Assets: ALPHA's debt is not covered by short term assets (assets are 0.7x debt).


Financial Institutions Analysis

Asset Level: ALPHA's level of assets compared to its equity is low.

Allowance for Bad Loans: ALPHA has a low allowance for bad loans.

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

Loan Level: ALPHA has an acceptable proportion of non-loan assets held.

Low Risk Deposits: ALPHA's loans are broadly funded by customer deposits.

Level of Bad Loans: ALPHA has a high level of bad loans (47.33%)


Next Steps

Dividend

What is Alpha Bank A.E's current dividend yield, its reliability and sustainability?

0.14%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.9%markettop25%3.7%industryaverage6.0%forecastin3Years0.1%

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: ALPHA is not paying a notable dividend for the Greek market.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Alpha Bank A.E's salary, the management and board of directors tenure and is there insider trading?

2.4yrs

Average management tenure


CEO

Vassilios Psaltis (51yo)

0.9yrs

Tenure

0

Mr. Vassilios E. Psaltis has been Chief Executive Officer of Alpha Bank AE since January 2, 2019. Mr. Psaltis was General Manager and Chief Financial Officer of Alpha Bank AE since 2012 until January 2, 20 ...


Management Age and Tenure

2.4yrs

Average Tenure

60yo

Average Age

Experienced Management: ALPHA's management team is considered experienced (2.4 years average tenure).


Board Age and Tenure

5.6yrs

Average Tenure

64.5yo

Average Age

Experienced Board: ALPHA's board of directors are considered experienced (5.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Management Team

  • Artemios Theodoridis (60yo)

    Deputy C.E.O of Non-Performing Loans & Treasury Mgmt

    • Tenure: 14.9yrs
  • Efstathios Kakogiannis (70yo)

    Chief Information Officer & Executive GM

    • Tenure: 16.9yrs
  • Spyros Filaretos (61yo)

    Deputy CEO

    • Tenure: 14.9yrs
  • Lazaros Papagaryfallou (48yo)

    GM & CFO

    • Tenure: 0.8yrs
  • Vassilios Psaltis (51yo)

    CEO & Executive Director

    • Tenure: 0.9yrs
  • Penelope Konidari (61yo)

    Executive General Manager of Human Resources

    • Tenure: 6.4yrs
  • Marianna Antoniou (52yo)

    Manager of Accounting & Tax

    • Tenure: 0yrs
  • Dimitrios Kostopoulos

    Manager of Investor Relations Division

    • Tenure: 0yrs
  • Kyriaki Inempolidi

    Manager of Marketing and Public Relations Division

    • Tenure: 1.9yrs
  • Nikolaos Salakas

    GM and Chief Legal & Governance Officer

    • Tenure: 0.8yrs

Board Members

  • Artemios Theodoridis (60yo)

    Deputy C.E.O of Non-Performing Loans & Treasury Mgmt

    • Tenure: 14.9yrs
  • Vasileios Rapanos (72yo)

    Non-Executive Chairman of the Board

    • Tenure: 5.6yrs
  • Yannis Costopoulos (81yo)

    Honorary Chairman

    • Tenure: 5.5yrs
  • Demetrios Mantzounis (72yo)

    • Tenure: 24.9yrs
  • Jan Oscar A. Vanhevel (71yo)

    Non-Executive Independent Director

    • Tenure: 3.7yrs
  • Spyros Filaretos (61yo)

    Deputy CEO

    • Tenure: 14.9yrs
  • Shahzad Shahbaz (59yo)

    Non-Executive Independent Director

    • Tenure: 5.6yrs
  • Vassilios Psaltis (51yo)

    CEO & Executive Director

    • Tenure: 0.9yrs
  • Richard Paul Gildea (67yo)

    Non-Executive Independent Director

    • Tenure: 3.4yrs
  • George Aronis (62yo)

    Executive Director & Senior Advisor to the CEO

    • Tenure: 8.8yrs

Company Information

Alpha Bank A.E.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Alpha Bank A.E.
  • Ticker: ALPHA
  • Exchange: ATSE
  • Founded: 1879
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €2.887b
  • Shares outstanding: 1.54b
  • Website: https://www.alpha.gr

Number of Employees


Location

  • Alpha Bank A.E.
  • 40 Stadiou Street
  • Athens
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALPHAATSE (The Athens Stock Exchange)YesOrdinary SharesGREURJan 1992
ACBBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0RCSLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ALBK.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ALBK.YOTCPK (Pink Sheets LLC)SPN ADR EACH REP 0.25 ORD(POST REV SPLITUSUSDJul 1996
ALPHAATSE (The Athens Stock Exchange)EUR0.3(REV SPLIT)GREURDec 2015
ACBBDB (Deutsche Boerse AG)EUR0.3(REV SPLIT)DEEURDec 2015

Biography

Alpha Bank A.E., together with its subsidiaries, provides various banking and financial products and services to individuals, professionals, and companies in Greece and internationally. The company operate ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/12 20:38
End of Day Share Price2019/12/12 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.