Hang Seng Bank Future Growth

Future criteria checks 1/6

Hang Seng Bank is forecast to grow earnings and revenue by 3.4% and 5% per annum respectively. EPS is expected to grow by 3.6% per annum. Return on equity is forecast to be 11.2% in 3 years.

Key information

3.4%

Earnings growth rate

3.6%

EPS growth rate

Banks earnings growth	4.4%
Revenue growth rate	5.0%
Future return on equity	11.2%
Analyst coverage	Good
Last updated	04 Jul 2024

Recent future growth updates

Recent updates

Hang Seng Bank (HKG:11) Is Paying Out A Larger Dividend Than Last Year

Feb 23

Hang Seng Bank (HKG:11) Has Announced That Its Dividend Will Be Reduced To HK$0.70

May 06

Don't Buy Hang Seng Bank Limited (HKG:11) For Its Next Dividend Without Doing These Checks

Mar 03

Hang Seng Bank Limited (HKG:11) Insiders Increased Their Holdings

Feb 22

Should You Or Shouldn't You: A Dividend Analysis on Hang Seng Bank Limited (HKG:11)

Jan 27

Do Institutions Own Hang Seng Bank Limited (HKG:11) Shares?

Dec 31

Hang Seng Bank's (HKG:11) Shareholders Are Down 27% On Their Shares

Dec 05

Earnings and Revenue Growth Forecasts

SEHK:11 - Analysts future estimates and past financials data (HKD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	40,994	18,797	N/A	N/A	7
12/31/2025	40,198	18,575	N/A	N/A	10
12/31/2024	40,850	18,358	N/A	N/A	10
12/31/2023	34,574	17,140	79,230	80,980	N/A
9/30/2023	33,661	16,020	100,623	102,376	N/A
6/30/2023	34,131	13,778	139,377	141,134	N/A
3/31/2023	31,110	11,617	120,719	122,541	N/A
12/31/2022	26,705	10,576	84,699	86,586	N/A
9/30/2022	26,193	10,284	59,582	61,595	N/A
6/30/2022	25,681	9,992	34,464	36,604	N/A
3/31/2022	28,122	11,625	-7,031	-4,888	N/A
12/31/2021	30,563	13,257	-48,526	-46,380	N/A
9/30/2021	31,673	14,434	-43,655	-41,578	N/A
6/30/2021	32,783	15,610	-38,784	-36,776	N/A
3/31/2021	32,016	15,799	-9,998	-7,939	N/A
12/31/2020	31,248	15,987	18,787	20,897	N/A
9/30/2020	32,266	17,963	8,495	10,547	N/A
6/30/2020	33,284	19,938	-1,797	197	N/A
3/31/2020	35,201	22,180	-19,377	-17,513	N/A
12/31/2019	37,118	24,421	-36,958	-35,224	N/A
9/30/2019	38,068	24,492	-42,657	-41,320	N/A
6/30/2019	39,018	24,563	-48,357	-47,416	N/A
3/31/2019	38,957	24,213	-48,376	-47,460	N/A
12/31/2018	38,895	23,863	-48,396	-47,504	N/A
9/30/2018	37,544	23,183	-72,090	-71,146	N/A
6/30/2018	36,192	22,502	-95,785	-94,788	N/A
3/31/2018	34,799	21,098	-81,043	-80,184	N/A
12/31/2017	33,405	19,693	-66,301	-65,580	N/A
9/30/2017	31,814	18,696	N/A	-38,855	N/A
6/30/2017	30,222	17,699	N/A	-12,131	N/A
3/31/2017	28,638	16,783	N/A	4,074	N/A
12/31/2016	27,053	15,866	N/A	20,278	N/A
9/30/2016	26,231	15,504	N/A	5,674	N/A
6/30/2016	25,408	15,141	N/A	-8,930	N/A
3/31/2016	31,411	21,163	N/A	-28,568	N/A
12/31/2015	37,413	27,184	N/A	-48,206	N/A
9/30/2015	37,505	26,948	N/A	-44,126	N/A
6/30/2015	37,596	26,711	N/A	-40,046	N/A
3/31/2015	31,718	20,921	N/A	-55,177	N/A
12/31/2014	25,839	15,131	N/A	-70,309	N/A
9/30/2014	26,273	15,905	N/A	-66,967	N/A
6/30/2014	26,707	16,678	N/A	-63,625	N/A
3/31/2014	30,687	21,678	N/A	-42,823	N/A
12/31/2013	34,667	26,678	N/A	-22,021	N/A
9/30/2013	33,992	27,610	N/A	-45,241	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 11's forecast earnings growth (3.4% per year) is above the savings rate (2.2%).

Earnings vs Market: 11's earnings (3.4% per year) are forecast to grow slower than the Hong Kong market (11.3% per year).

High Growth Earnings: 11's earnings are forecast to grow, but not significantly.

Revenue vs Market: 11's revenue (5% per year) is forecast to grow slower than the Hong Kong market (7.7% per year).

High Growth Revenue: 11's revenue (5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 11's Return on Equity is forecast to be low in 3 years time (11.2%).

Hang Seng Bank Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

Consensus EPS estimates fall by 13%

Price target raised to HK$149

Price target lowered to HK$121

Recent updates

Now 21% undervalued

Now 20% undervalued

Hang Seng Bank Limited Announces Kenneth S Y Ng Steps Down as an Independent Non-Executive Director, Chairman of the Risk Committee and A Member of the Nomination Committee

Fourth quarter dividend of HK$1.20 announced

Hang Seng Bank Limited Announces First Interim Cash Dividend for the Year Ending 31 December 2024, Payable on 06 June 2024

Hang Seng Bank Introduces the New PayDay+

Hang Seng Bank Limited (SEHK:11) announces an Equity Buyback for HKD 3 million worth of its shares.

Hang Seng Bank Limited (SEHK:11) announces an Equity Buyback for HKD 3 million worth of its shares.

Hang Seng Bank Limited, Annual General Meeting, May 08, 2024

Upcoming dividend of HK$3.20 per share

Hang Seng Bank (HKG:11) Is Paying Out A Larger Dividend Than Last Year

Fourth quarter dividend of HK$3.20 announced

Full year 2023 earnings: Revenues and EPS in line with analyst expectations

Hang Seng Bank Limited Announces Fourth Quarter Interim Dividend for the Financial Year Ending 31 December 2023, Payable on 21 March 2024

Hang Seng Bank Limited to Report Fiscal Year 2023 Results on Feb 21, 2024

Hang Seng Bank Limited Announces Board Changes

Hang Seng Bank Limited Announces Third Interim Dividend for the Year Ended December 31, 2023, Payable on November 09, 2023

Hang Seng Bank Announces Executive Changes, Effective October 24, 2023

Upcoming dividend of HK$1.10 per share at 3.8% yield

Hang Seng Bank Limited Declares Second Interim Dividend for 2023, Payable on 05 September 2023

First half 2023 earnings released: EPS: HK$4.99 (vs HK$2.31 in 1H 2022)

Upcoming dividend of HK$1.10 per share at 3.6% yield

Hang Seng Bank Limited Announces Retirement of Michael Wu as Independent Non-Executive Director, Chairman of the Remuneration Committee and Member of Nomination Committee and Risk Committee

Upcoming dividend of HK$2.00 per share at 3.2% yield

Full year 2022 earnings: EPS misses analyst expectations

Hang Seng Bank Limited to Report Q4, 2022 Results on Feb 21, 2023

Hang Seng Bank Limited Announces Resignation of Chiang Lai Yuen as Independent Non-Executive Director and Member of the Audit Committee and Remuneration Committee, with Effect from 1 January 2023

Hang Seng Bank Limited Announces Executive Changes

Hang Seng Bank Limited Announces Change to Board Composition

Upcoming dividend of HK$0.70 per share

Hang Seng Bank Limited Announces Third Interim Dividend for 2022, Payable on November 08, 2022

Upcoming dividend of HK$0.70 per share

Hang Seng Bank Limited Declares Second Interim Dividend, Payable on September 1, 2022

First half 2022 earnings released

Hang Seng Bank Limited to Report First Half, 2022 Results on Aug 01, 2022

Hang Seng Bank (HKG:11) Has Announced That Its Dividend Will Be Reduced To HK$0.70

Hang Seng Bank Limited Announces Stepping Down of Directors

Upcoming dividend of HK$0.70 per share

Hang Seng Bank Limited Declares First Interim Dividend for the Financial Year Ending December 31, 2022

Hang Seng Bank Limited Announces Committee Appointments

Consensus EPS estimates fall by 13%

Upcoming dividend of HK$1.80 per share

Hang Seng Bank Limited Announces Changes to Board Composition

Full year 2021 earnings: EPS and revenues miss analyst expectations

Hang Seng Bank Limited to Report Fiscal Year 2021 Results on Feb 22, 2022

Upcoming dividend of HK$1.10 per share

Non-Executive Director Tung Shun Wong has left the company

Vice-Chairman & Chief Executive (Leave of Absence) Wai Wan Cheang has left the company

Upcoming dividend of HK$1.10 per share

First half 2021 earnings released: EPS HK$4.44 (vs HK$4.64 in 1H 2020)

Independent Non-Executive Chairman Kuo Fung Ch'ien has left the company

Independent Non-Executive Director has left the company

Upcoming dividend of HK$1.10 per share

Hang Seng Bank Limited Declares First Interim Dividend for the Year Ending 31 December 2021, Payable on 8 June 2021

Full year 2020 earnings released: EPS HK$8.36 (vs HK$12.77 in FY 2019)

Revenue and earnings miss expectations

Don't Buy Hang Seng Bank Limited (HKG:11) For Its Next Dividend Without Doing These Checks

Price target raised to HK$149

Upcoming Dividend of HK$2.80 Per Share

Revenue and earnings miss expectations

Full year 2020 earnings released: EPS HK$8.36 (vs HK$12.77 in FY 2019)

New 90-day high: HK$153

Hang Seng Bank Limited (HKG:11) Insiders Increased Their Holdings

Hang Seng Bank Limited to Report Q4, 2020 Results on Feb 23, 2021

Should You Or Shouldn't You: A Dividend Analysis on Hang Seng Bank Limited (HKG:11)

Hang Seng Bank Limited Announces Executive Changes

New 90-day high: HK$138

Do Institutions Own Hang Seng Bank Limited (HKG:11) Shares?

Hang Seng Bank's (HKG:11) Shareholders Are Down 27% On Their Shares

New 90-day high: HK$126

New 90-day low: HK$117

First half earnings released