Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €11.14, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 11x in the Banks industry in Italy. Total returns to shareholders of 291% over the past three years. Buy Or Sell Opportunity • Jun 10
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to €10.40. The fair value is estimated to be €8.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years, while earnings per share has been flat. Reported Earnings • May 11
First quarter 2026 earnings released: EPS: €0.29 (vs €0.28 in 1Q 2025) First quarter 2026 results: EPS: €0.29 (up from €0.28 in 1Q 2025). Revenue: €149.9m (up 4.6% from 1Q 2025). Net income: €37.6m (up 1.7% from 1Q 2025). Profit margin: 25% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 27
Upcoming dividend of €0.51 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 06 May 2026. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 5.6%. Within top quartile of Italian dividend payers (4.6%). In line with average of industry peers (6.2%). Announcement • Apr 16
Banco di Desio e della Brianza S.p.A., Annual General Meeting, Apr 29, 2026 Banco di Desio e della Brianza S.p.A., Annual General Meeting, Apr 29, 2026, at 11:00 W. Europe Standard Time. Declared Dividend • Feb 15
Dividend increased to €0.51 Dividend of €0.51 is 12% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 6.0%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 13
Banco di Desio e della Brianza S.p.A. announces Annual dividend, payable on May 06, 2026 Banco di Desio e della Brianza S.p.A. announced Annual dividend of EUR 0.5105 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Reported Earnings • Feb 12
Full year 2025 earnings released Full year 2025 results: Revenue: €562.4m (up 1.3% from FY 2024). Net income: €127.3m (up 3.9% from FY 2024). Profit margin: 23% (in line with FY 2024). Buy Or Sell Opportunity • Jan 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €9.08. The fair value is estimated to be €7.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 7.3%. Buy Or Sell Opportunity • Dec 01
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to €8.89. The fair value is estimated to be €7.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 7.3%. Announcement • Nov 26
Banco di Desio e della Brianza S.p.A. (BIT:BDB) agreed to acquire Solutions Capital Management SIM S.p.A. (BIT:SCM). for €10.1 million. Banco di Desio e della Brianza S.p.A. (BIT:BDB) agreed to acquire Solutions Capital Management SIM S.p.A. (BIT:SCM) for €10.1 million on November 26, 2025. A cash consideration will be paid by Banco di Desio e della Brianza S.p.A. As part of consideration, an undisclosed value is paid towards common equity of Solutions Capital Management SIM S.p.A.
The objective of this tender offer is to reach at least 95% of SCM's voting rights to proceed with the delisting and acquire full control of the company. Recent Insider Transactions • Nov 13
Chairman of the Board & President recently bought €348k worth of stock On the 7th of November, Stefano Lado bought around 45k shares on-market at roughly €7.73 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Stefano's only on-market trade for the last 12 months. Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: €0.25 (vs €0.29 in 2Q 2024) Second quarter 2025 results: EPS: €0.25 (down from €0.29 in 2Q 2024). Revenue: €145.1m (down 1.7% from 2Q 2024). Net income: €33.4m (down 14% from 2Q 2024). Profit margin: 23% (down from 26% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 13
First quarter 2025 earnings released First quarter 2025 results: EPS: €0.28. Revenue: €143.3m (down 5.1% from 1Q 2024). Net income: €37.0m (down 5.5% from 1Q 2024). Profit margin: 26% (in line with 1Q 2024). New Risk • Apr 28
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 Italian stocks, typically moving 8.6% 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Apr 21
Upcoming dividend of €0.46 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 30 April 2025. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Italian dividend payers (5.8%). Lower than average of industry peers (7.5%). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €6.74, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 8x in the Banks industry in Italy. Total returns to shareholders of 155% over the past three years. Buy Or Sell Opportunity • Apr 04
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to €6.74. The fair value is estimated to be €8.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 29%. Reported Earnings • Mar 28
Full year 2024 earnings released Full year 2024 results: Revenue: €555.2m (up 10% from FY 2023). Net income: €122.6m (down 14% from FY 2023). Profit margin: 22% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Mar 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to €8.08. The fair value is estimated to be €6.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 33%. Announcement • Mar 18
Banco di Desio e della Brianza S.p.A., Annual General Meeting, Apr 17, 2025 Banco di Desio e della Brianza S.p.A., Annual General Meeting, Apr 17, 2025, at 11:00 W. Europe Standard Time. Declared Dividend • Mar 16
Dividend increased to €0.46 Dividend of €0.46 is 73% higher than last year. Ex-date: 28th April 2025 Payment date: 30th April 2025 Dividend yield will be 5.8%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 35% over the last 3 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 14
Banco di Desio e della Brianza S.p.A. announces Annual dividend, payable on April 30, 2025 Banco di Desio e della Brianza S.p.A. announced Annual dividend of EUR 0.4566 per share payable on April 30, 2025, ex-date on April 28, 2025 and record date on April 29, 2025. Buy Or Sell Opportunity • Feb 26
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to €8.12. The fair value is estimated to be €6.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 33%. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €7.40, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 7x in the Banks industry in Italy. Total returns to shareholders of 177% over the past three years. New Risk • Feb 14
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 Italian stocks, typically moving 5.6% 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. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Feb 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 52% to €8.68. The fair value is estimated to be €7.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • Nov 10
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €0.28. Revenue: €135.7m (down 2.0% from 3Q 2023). Net income: €38.3m (up 17% from 3Q 2023). Profit margin: 28% (up from 24% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to €5.80. The fair value is estimated to be €4.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 38%. Buy Or Sell Opportunity • Oct 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to €5.74. The fair value is estimated to be €4.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 38%. New Risk • Aug 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.9% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.9% net profit margin). New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Apr 15
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 24 April 2024. Trailing yield: 4.3%. Lower than top quartile of Italian dividend payers (5.7%). Lower than average of industry peers (7.0%). Recent Insider Transactions • Mar 10
Chairman of the Board recently bought €150k worth of stock On the 5th of March, Stefano Lado bought around 38k shares on-market at roughly €4.00 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Stefano's only on-market trade for the last 12 months. Announcement • Jan 31
Banco di Desio e della Brianza S.p.A. (BIT:BDB) agreed to acquire 57% stake in Dynamica Retail SpA for €1.2 million. Banco di Desio e della Brianza S.p.A. (BIT:BDB) agreed to acquire 57% stake in Dynamica Retail SpA for €1.2 million on January 31, 2024. The payment of the consideration will take place entirely in cash through own resources and the closing of the operation is expected within the first half of 2024. Buy Or Sell Opportunity • Jan 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €3.71. The fair value is estimated to be €3.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 53%. New Risk • Aug 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 102% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 08
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €130.8m (up 33% from 2Q 2022). Net income: €133.5m (up €112.4m from 2Q 2022). Upcoming Dividend • May 01
Upcoming dividend of €0.20 per share at 5.9% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Trailing yield: 5.9%. Within top quartile of Italian dividend payers (5.1%). In line with average of industry peers (6.0%). Reported Earnings • Feb 14
Full year 2022 earnings released Full year 2022 results: Revenue: €425.2m (up 17% from FY 2021). Net income: €81.5m (up 48% from FY 2021). Profit margin: 19% (up from 15% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Giulia Pusterla was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 10
Second quarter 2022 earnings released Second quarter 2022 results: Net income: €21.2m (up 26% from 2Q 2021). Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Giulia Pusterla was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Apr 18
Upcoming dividend of €0.14 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 27 April 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Italian dividend payers (4.7%). Lower than average of industry peers (5.7%). Reported Earnings • Feb 13
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.40 (up from €0.17 in FY 2020). Revenue: €365.7m (up 13% from FY 2020). Net income: €54.9m (up 132% from FY 2020). Profit margin: 15% (up from 7.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS €0.14 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: €102.0m (up 5.4% from 3Q 2020). Net income: €18.7m (up 11% from 3Q 2020). Profit margin: 18% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 04
Upcoming dividend of €0.096 per share Eligible shareholders must have bought the stock before 11 October 2021. Payment date: 13 October 2021. Trailing yield: 1.9%. Lower than top quartile of Italian dividend payers (3.5%). In line with average of industry peers (1.9%). Reported Earnings • Aug 08
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €81.0m (up 15% from 2Q 2020). Net income: €16.8m (up 274% from 2Q 2020). Profit margin: 21% (up from 6.4% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 15% share price gain to €3.56, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 12x in the Banks industry in Italy. Total returns to shareholders of 86% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 16% share price gain to €3.24, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 15x in the Banks industry in Italy. Total returns to shareholders of 47% over the past three years. Reported Earnings • Apr 17
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €326.2m (down 3.1% from FY 2019). Net income: €23.7m (down 41% from FY 2019). Profit margin: 7.3% (down from 12% in FY 2019). Reported Earnings • Feb 12
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €326.2m (down 3.1% from FY 2019). Net income: €23.7m (down 41% from FY 2019). Profit margin: 7.3% (down from 12% in FY 2019). Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 16% share price gain to €2.72, the stock is trading at a trailing P/E ratio of 11.2x, up from the previous P/E ratio of 9.7x. This compares to an average P/E of 11x in the Banks industry in Italy. Total returns to shareholders over the past three years are 37%. Is New 90 Day High Low • Feb 03
New 90-day high: €2.65 The company is up 33% from its price of €1.99 on 04 November 2020. The Italian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 15% over the same period. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 18% share price gain to €2.20, the stock is trading at a trailing P/E ratio of 9.1x, up from the previous P/E ratio of 7.7x. This compares to an average P/E of 8x in the Banks industry in Italy. Total returns to shareholders over the past three years were flat. Is New 90 Day High Low • Nov 04
New 90-day low: €1.86 The company is down 17% from its price of €2.24 on 05 August 2020. The Italian market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 15% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: €1.99 The company is down 9.0% from its price of €2.18 on 16 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is down 10.0% over the same period. Is New 90 Day High Low • Sep 19
New 90-day low: €2.14 The company is down 7.0% from its price of €2.31 on 19 June 2020. The Italian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 1.0% over the same period.