Major Estimate Revision • 17h
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from €330.0m to €366.0m. EPS estimate increased from €0.88 to €0.915 per share. Net income forecast to grow 22% next year vs 13% growth forecast for Banks industry in Greece. Consensus price target up from €10.06 to €11.35. Share price rose 7.3% to €10.39 over the past week. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: €0.21 (vs €0.18 in 1Q 2025) First quarter 2026 results: EPS: €0.21 (up from €0.18 in 1Q 2025). Revenue: €77.0m (up 21% from 1Q 2025). Net income: €47.5m (up 22% from 1Q 2025). Profit margin: 62% (in line with 1Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Banks industry in Greece. Declared Dividend • May 07
Dividend of €0.23 announced Shareholders will receive a dividend of €0.23. Ex-date: 24th June 2026 Payment date: 30th June 2026 Dividend yield will be 2.5%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (27% payout ratio) and is expected to be well covered in 3 years' time (27% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 07
Optima bank S.A. announces Annual dividend, payable on June 30, 2026 Optima bank S.A. announced Annual dividend of EUR 0.2300 per share payable on June 30, 2026, ex-date on June 24, 2026 and record date on June 25, 2026. Announcement • Mar 18
Optima bank S.A. (ATSE:OPTIMA) submitted a non-binding offer to acquire 80.84% stake in Euroxx Securities S.A. (ATSE:EX). Optima bank S.A. (ATSE:OPTIMA) submitted a non-binding offer to acquire 80.84% stake in Euroxx Securities S.A. (ATSE:EX) on March 17, 2026. The non-binding offer concerns the acquisition of a stake of up to 80.84%, and in any case no less than 67%, of the paid-in share capital of Euroxx Securities from certain of its shareholders.
The offer is non-binding, and the completion of any transaction is subject to customary conditions, including in particular: the completion of legal, financial and tax due diligence, the continuation of negotiations between the parties, the negotiation and execution of definitive agreements and obtaining of the required corporate approvals of Optima bank and regulatory approvals. The receipt of all necessary approvals from the competent authorities in accordance with applicable laws and regulations. The offer has been approved by Optima bank S.A. board. Buy Or Sell Opportunity • Mar 10
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €8.96. The fair value is estimated to be €6.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Mar 04
Full year 2025 earnings released: EPS: €0.77 (vs €0.63 in FY 2024) Full year 2025 results: EPS: €0.77 (up from €0.63 in FY 2024). Revenue: €273.1m (up 17% from FY 2024). Net income: €170.0m (up 21% from FY 2024). Profit margin: 62% (up from 60% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Banks industry in Greece. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Greek stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Jan 27
Optima bank S.A., Annual General Meeting, May 05, 2026 Optima bank S.A., Annual General Meeting, May 05, 2026. Price Target Changed • Dec 03
Price target increased by 19% to €8.88 Up from €7.48, the current price target is an average from 3 analysts. New target price is 16% above last closing price of €7.68. Stock is up 82% over the past year. The company is forecast to post earnings per share of €0.73 for next year compared to €0.63 last year. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: €0.19 (vs €0.18 in 3Q 2024) Third quarter 2025 results: EPS: €0.19 (up from €0.18 in 3Q 2024). Revenue: €68.0m (up 8.0% from 3Q 2024). Net income: €42.3m (up 7.9% from 3Q 2024). Profit margin: 62% (in line with 3Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Banks industry in Greece. Reported Earnings • Aug 03
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €66.2m (up 10% from 2Q 2024). Net income: €42.1m (up 16% from 2Q 2024). Profit margin: 64% (up from 60% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in Greece. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €7.92, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Banks industry in Greece. Total returns to shareholders of 102% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €5.25 per share. Buy Or Sell Opportunity • Jul 08
Now 53% undervalued after recent price drop Over the last 90 days, the stock has fallen 47% to €7.43. The fair value is estimated to be €15.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last year. Earnings per share has grown by 5.1%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Buy Or Sell Opportunity • Jun 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €19.08. The fair value is estimated to be €15.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last year. Earnings per share has grown by 5.1%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Upcoming Dividend • Jun 16
Upcoming dividend of €0.57 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Greek dividend payers (5.7%). Higher than average of industry peers (2.6%). Buy Or Sell Opportunity • May 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to €19.30. The fair value is estimated to be €16.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last year. Earnings per share has grown by 5.1%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: €0.53 (vs €0.44 in 1Q 2024) First quarter 2025 results: EPS: €0.53 (up from €0.44 in 1Q 2024). Revenue: €63.5m (up 17% from 1Q 2024). Net income: €39.0m (up 19% from 1Q 2024). Profit margin: 62% (up from 60% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Greece. Declared Dividend • May 02
Dividend increased to €0.57 Dividend of €0.57 is 30% higher than last year. Ex-date: 23rd June 2025 Payment date: 27th June 2025 Dividend yield will be 3.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (23% payout ratio) and is expected to be well covered in 3 years' time (30% forecast payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 01
Optima bank S.A. announces Annual dividend, payable on June 27, 2025 Optima bank S.A. announced Annual dividend of EUR 0.5700 per share payable on June 27, 2025, ex-date on June 23, 2025 and record date on June 24, 2025. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Greek stocks, typically moving 5.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €11.92, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Banks industry in Greece. Total returns to shareholders of 34% over the past year. Reported Earnings • Mar 24
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: €1.90. Revenue: €234.2m (up 28% from FY 2023). Net income: €140.2m (up 36% from FY 2023). Profit margin: 60% (up from 56% in FY 2023). The increase in margin was driven by higher revenue. Non-performing loans: 0.85% (up from 0.45% in FY 2023). Announcement • Mar 01
Optima bank S.A. to Report Fiscal Year 2024 Results on Mar 21, 2025 Optima bank S.A. announced that they will report fiscal year 2024 results at 10:00 AM, GTB Standard Time on Mar 21, 2025 Announcement • Feb 17
Optima bank S.A., Annual General Meeting, Apr 29, 2025 Optima bank S.A., Annual General Meeting, Apr 29, 2025. Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: €0.53 (vs €0.53 in 3Q 2023) Third quarter 2024 results: EPS: €0.53. Revenue: €63.0m (up 31% from 3Q 2023). Net income: €39.2m (up 40% from 3Q 2023). Profit margin: 62% (up from 58% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Banks industry in Greece. Announcement • Nov 01
Optima bank S.A. to Report Nine Months, 2024 Results on Nov 11, 2024 Optima bank S.A. announced that they will report nine months, 2024 results on Nov 11, 2024 Major Estimate Revision • Oct 23
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €232.8m to €254.5m. EPS estimate increased from €1.72 to €1.90 per share. Net income forecast to grow 17% next year vs 3.0% growth forecast for Banks industry in Greece. Consensus price target up from €11.00 to €18.00. Share price was steady at €12.84 over the past week. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: €0.49 (vs €0.53 in 2Q 2023) Second quarter 2024 results: EPS: €0.49. Revenue: €60.0m (up 36% from 2Q 2023). Net income: €36.3m (up 41% from 2Q 2023). Profit margin: 60% (up from 58% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Greece. Announcement • Aug 01
Optima bank S.A. to Report First Half, 2024 Results on Aug 01, 2024 Optima bank S.A. announced that they will report first half, 2024 results on Aug 01, 2024 Board Change • Jul 07
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Member Georgia Kontogianni was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jul 01
Now 22% undervalued Over the last 90 days, the stock has risen 47% to €12.04. The fair value is estimated to be €15.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 91% over the last year. Meanwhile, the company has become profitable. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Buy Or Sell Opportunity • Jun 28
Now 22% undervalued Over the last 90 days, the stock has risen 46% to €12.00. The fair value is estimated to be €15.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 91% over the last year. Meanwhile, the company has become profitable. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Reported Earnings • May 22
First quarter 2024 earnings released: EPS: €0.44 (vs €0.51 in 1Q 2023) First quarter 2024 results: EPS: €0.44. Revenue: €54.3m (up 39% from 1Q 2023). Net income: €32.7m (up 48% from 1Q 2023). Profit margin: 60% (up from 56% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Greece. Announcement • May 03
Optima bank S.A., Annual General Meeting, May 23, 2024 Optima bank S.A., Annual General Meeting, May 23, 2024, at 11:00 E. Europe Standard Time. Location: Hotel Divani Caravel, 1st floor, 2 Vassileos Alexandrou ave. 16121 Athens Greece Announcement • May 01
Optima bank S.A. to Report Q1, 2024 Results on May 21, 2024 Optima bank S.A. announced that they will report Q1, 2024 results on May 21, 2024 Announcement • Apr 10
Optima bank S.A. to Report Fiscal Year 2023 Results on Apr 09, 2024 Optima bank S.A. announced that they will report fiscal year 2023 results on Apr 09, 2024 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €9.63, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Banks industry in Greece. New Risk • Mar 11
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 5.7% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 11
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: €1.96 (up from €1.13 in FY 2022). Revenue: €183.1m (up 104% from FY 2022). Net income: €103.0m (up 143% from FY 2022). Profit margin: 56% (up from 47% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Banks industry in Greece. Announcement • Mar 02
Optima bank S.A. to Report Fiscal Year 2023 Results on Mar 06, 2024 Optima bank S.A. announced that they will report fiscal year 2023 results on Mar 06, 2024 Reported Earnings • Nov 14
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.53. Net income: €28.0m (up €28.0m from 3Q 2022). Announcement • Nov 01
Optima bank S.A. to Report Nine Months, 2023 Results on Nov 13, 2023 Optima bank S.A. announced that they will report nine months, 2023 results on Nov 13, 2023 
