ATSE:TATT

Stock Analysis Report

Executive Summary

Attica Bank S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and companies in Greece.

Rewards

PE ratio (5.4x) is below the Greek market (15.9x)

Revenue is forecast to grow 6.04% per year

Became profitable this year

Risk Analysis

Earnings are forecast to decline by an average of -0.8% per year for the next 3 years



Snowflake Analysis

Adequate balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-6.9%

TATT

-6.7%

GR Banks

-3.1%

GR Market


1 Year Return

214.8%

TATT

86.4%

GR Banks

30.4%

GR Market

Return vs Industry: TATT exceeded the Greek Banks industry which returned 86.4% over the past year.

Return vs Market: TATT exceeded the Greek Market which returned 30.4% over the past year.


Shareholder returns

TATTIndustryMarket
7 Day-6.9%-6.7%-3.1%
30 Day-2.3%2.8%1.0%
90 Day-12.4%7.2%2.3%
1 Year214.8%214.8%86.4%86.4%35.1%30.4%
3 Year-44.9%-44.9%0.2%0.2%45.6%32.9%
5 Year-97.3%-97.3%-5.6%-28.4%-72.3%-73.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

5.4x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TATT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TATT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TATT is good value based on its PE Ratio (5.4x) compared to the Banks industry average (12.8x).

PE vs Market: TATT is good value based on its PE Ratio (5.4x) compared to the Greek market (15.9x).


Price to Earnings Growth Ratio

PEG Ratio: TATT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

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


Next Steps

Future Growth

How is Attica Bank forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TATT's earnings are forecast to decline over the next 3 years (-0.8% per year).

Earnings vs Market: TATT's earnings are forecast to decline over the next 3 years (-0.8% per year).

High Growth Earnings: TATT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: TATT's revenue (6% per year) is forecast to grow faster than the Greek market (4.4% per year).

High Growth Revenue: TATT's revenue (6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Attica Bank performed over the past 5 years?

42.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TATT has high quality earnings.

Growing Profit Margin: TATT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TATT has become profitable over the past 5 years, growing earnings by 42.3% per year.

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

Earnings vs Industry: TATT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Banks industry (6.4%).


Return on Equity

High ROE: TATT's Return on Equity (7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Attica Bank'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: TATT has a low level of unsold assets or inventory.

Debt Coverage by Assets: TATT's debt is covered by short term assets (assets are 2.7x debt).


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: TATT has a high level of bad loans (44.05%)


Next Steps

Dividend

What is Attica Bank's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%1.9%markettop25%3.7%industryaverage6.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate TATT'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 TATT's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TATT'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 Attica Bank's salary, the management and board of directors tenure and is there insider trading?

3.3yrs

Average management tenure


CEO

Theodoros Pantalakis (65yo)

3.3yrs

Tenure

0

Mr. Theodoros N. Pantalakis serves as Managing Director, General Manager and Member of the Board of Directors of Attica Wealth Management. He has been the Chief Executive Officer of Attica Bank S.A. since  ...


Management Age and Tenure

3.3yrs

Average Tenure

Experienced Management: TATT's management team is considered experienced (3.3 years average tenure).


Board Age and Tenure

0.4yrs

Average Tenure

Experienced Board: TATT's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.


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

  • Theodoros Pantalakis (65yo)

    CEO & Director

    • Tenure: 3.3yrs
  • Michail Andriotis

    Head of Corporate & Retail Banking Department and Deputy General Manager

    • Tenure: 0yrs
  • Polyxeni Triantafyllou

    Director

    • Tenure: 0yrs
  • Maria Varela

    Director of Legal Department and Secretary

    • Tenure: 0yrs
  • Stefanos Korodimos

    Chief Information Officer & Director of IT Department

    • Tenure: 8.9yrs
  • Ioannis Anninos

    Head of Credit Department and Deputy General Manager

    • Tenure: 0yrs
  • Ioannis Tsakirakis

    Deputy CEO & Director

    • Tenure: 3.3yrs
  • Nikolaos Koutsogiannis

    Chief Financial Officer

    • Tenure: 2yrs
  • Georgios Triantafyllopoulos

    Head of the Transformation Office

    • Tenure: 0yrs
  • Antonios Vartholomaios

    Deputy CEO & Executive Member of the Board

    • Tenure: 0.4yrs

Board Members

  • Theodoros Pantalakis (65yo)

    CEO & Director

    • Tenure: 3.3yrs
  • Dimitrios Tzanninis

    Non-Executive Member

    • Tenure: 3.5yrs
  • Konstantinos Makedos

    Vice Chairman of the Board

    • Tenure: 0.4yrs
  • Ioannis Tsakirakis

    Deputy CEO & Director

    • Tenure: 3.3yrs
  • Stavros Papagiannopoulos

    Non-Executive Member

    • Tenure: 2yrs
  • Xariton Kiriazis

    Non-Executive Member

    • Tenure: 0.4yrs
  • Taprantzis Andreas

    Non Executive Member

    • Tenure: 0.4yrs
  • Doukidis Georgios

    Non Executive Member

    • Tenure: 0.4yrs
  • Antonios Vartholomaios

    Deputy CEO & Executive Member of the Board

    • Tenure: 0.4yrs
  • Konstantinos Mitropoulos

    Chairman of the Board

    • Tenure: 0.4yrs

Company Information

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


Key Information

  • Name: Attica Bank S.A.
  • Ticker: TATT
  • Exchange: ATSE
  • Founded: 1925
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €192.804m
  • Shares outstanding: 461.25m
  • Website: https://www.atticabank.gr

Number of Employees


Location

  • Attica Bank S.A.
  • 23, Omirou Street
  • Athens
  • 106 72
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TATTATSE (The Athens Stock Exchange)EUR0.30(POST CON)GREURNo data
TATTATSE (The Athens Stock Exchange)YesCommon SharesGREURJan 1992
0RCULSE (London Stock Exchange)YesCommon SharesGBEURJan 1992

Biography

Attica Bank S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and companies in Greece. The company operates through Retail B ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/06 20:48
End of Day Share Price2019/12/06 00:00
Earnings2019/06/30
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.