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Banco di Desio e della Brianza

BIT:BDB
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BDB
BIT
€272M
Market Cap
  1. Home
  2. IT
  3. Banks
Company description

Banco di Desio e della Brianza S.p.A. provides a range of banking, financial, and insurance solutions for individuals and companies in Italy. The last earnings update was 63 days ago. More info.


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BDB Share Price and Events
7 Day Returns
0%
BIT:BDB
0.1%
IT Banks
-0.3%
IT Market
1 Year Returns
-8.2%
BIT:BDB
-16.3%
IT Banks
-1.5%
IT Market
BDB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banco di Desio e della Brianza (BDB) 0% 4.1% -2% -8.2% 18.2% -32.4%
IT Banks 0.1% 12.7% -10.3% -16.3% -37.3% -56.7%
IT Market -0.3% 4.9% -0.5% -1.5% 8.6% -31.2%
1 Year Return vs Industry and Market
  • BDB outperformed the Banks industry which returned -16.3% over the past year.
  • BDB underperformed the Market in Italy which returned -1.5% over the past year.
Price Volatility
BDB
Industry
5yr Volatility vs Market

BDB Value

 Is Banco di Desio e della Brianza undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Banco di Desio e della Brianza to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Banco di Desio e della Brianza.

BIT:BDB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €6.70 * 4.3%
€0.29
Book Value of Equity per Share Median Book Value from the past 5 years. €6.70
Discount Rate (Cost of Equity) See below 21%
Perpetual Growth Rate 10-Year IT Government Bond Rate 2.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BIT:BDB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 9%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 24%) (1130.99%))
4.154
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (2 * 9.02%)
20.97%

Discounted Cash Flow Calculation for BIT:BDB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banco di Desio e della Brianza is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BIT:BDB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.3% – 20.97%) * €6.70)
€-1.12
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-1.12 / (20.97% - 2.93%)
€-6.20
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €6.70 + €-6.20
€0.5
BIT:BDB Discount to Share Price
Calculation Result
Value per share (EUR) From above. €0.50
Current discount Discount to share price of €2.01
= -1 x (€2.01 - €0.50) / €0.50
-303.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Banco di Desio e della Brianza is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Banco di Desio e della Brianza's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banco di Desio e della Brianza's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:BDB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.29
BIT:BDB Share Price ** BIT (2019-07-18) in EUR €2.01
Italy Banks Industry PE Ratio Median Figure of 12 Publicly-Listed Banks Companies 8.36x
Italy Market PE Ratio Median Figure of 240 Publicly-Listed Companies 15.99x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Banco di Desio e della Brianza.

BIT:BDB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:BDB Share Price ÷ EPS (both in EUR)

= 2.01 ÷ 0.29

6.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco di Desio e della Brianza is good value based on earnings compared to the IT Banks industry average.
  • Banco di Desio e della Brianza is good value based on earnings compared to the Italy market.
Price based on expected Growth
Does Banco di Desio e della Brianza's expected growth come at a high price?
Raw Data
BIT:BDB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.5%per year
Italy Banks Industry PEG Ratio Median Figure of 10 Publicly-Listed Banks Companies 1.14x
Italy Market PEG Ratio Median Figure of 161 Publicly-Listed Companies 1.33x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Banco di Desio e della Brianza, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Banco di Desio e della Brianza's assets?
Raw Data
BIT:BDB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €6.85
BIT:BDB Share Price * BIT (2019-07-18) in EUR €2.01
Italy Banks Industry PB Ratio Median Figure of 15 Publicly-Listed Banks Companies 0.33x
Italy Market PB Ratio Median Figure of 324 Publicly-Listed Companies 1.52x
BIT:BDB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:BDB Share Price ÷ Book Value per Share (both in EUR)

= 2.01 ÷ 6.85

0.29x

* Primary Listing of Banco di Desio e della Brianza.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco di Desio e della Brianza is good value based on assets compared to the IT Banks industry average.
X
Value checks
We assess Banco di Desio e della Brianza's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Banco di Desio e della Brianza has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BDB Future Performance

 How is Banco di Desio e della Brianza expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Banco di Desio e della Brianza, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banco di Desio e della Brianza expected to grow at an attractive rate?
  • Banco di Desio e della Brianza's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Banco di Desio e della Brianza's earnings growth is expected to exceed the Italy market average.
  • Unable to compare Banco di Desio e della Brianza's revenue growth to the Italy market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BIT:BDB Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:BDB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.5%
Italy Banks Industry Earnings Growth Rate Market Cap Weighted Average 5.6%
Italy Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Italy Market Earnings Growth Rate Market Cap Weighted Average 8.8%
Italy Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BIT:BDB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:BDB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 315 38
2018-12-31 308 28 35
2018-09-30 321 228 40
2018-06-30 324 229 39
2018-03-31 337 45
2017-12-31 331 27 44
2017-09-30 255 16
2017-06-30 320 -285 21
2017-03-31 322 21
2016-12-31 320 -501 26
2016-09-30 277 49
2016-06-30 315 -855 42

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banco di Desio e della Brianza's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Banco di Desio e della Brianza is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BIT:BDB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Banco di Desio e della Brianza Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:BDB Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.29
2018-12-31 0.27
2018-09-30 0.31
2018-06-30 0.30
2018-03-31 0.34
2017-12-31 0.34
2017-09-30 0.12
2017-06-30 0.16
2017-03-31 0.17
2016-12-31 0.20
2016-09-30 0.39
2016-06-30 0.32

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Banco di Desio e della Brianza will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Banco di Desio e della Brianza's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Italy market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Italy market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Banco di Desio e della Brianza has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BDB Past Performance

  How has Banco di Desio e della Brianza performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Banco di Desio e della Brianza's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Banco di Desio e della Brianza's year on year earnings growth rate has been positive over the past 5 years.
  • Banco di Desio e della Brianza's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Banco di Desio e della Brianza's 1-year earnings growth is negative, it can't be compared to the IT Banks industry average.
Earnings and Revenue History
Banco di Desio e della Brianza's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Banco di Desio e della Brianza Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:BDB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 314.87 37.79 272.95
2018-12-31 308.42 35.26 272.92
2018-09-30 320.74 40.11 275.09
2018-06-30 324.13 39.14 277.50
2018-03-31 336.73 44.54 277.77
2017-12-31 331.31 43.70 278.60
2017-09-30 254.58 16.00 251.69
2017-06-30 319.88 21.42 271.98
2017-03-31 321.77 21.50 274.37
2016-12-31 319.90 25.55 276.53
2016-09-30 277.39 49.04 276.19
2016-06-30 314.99 41.75 281.13
2016-03-31 307.59 37.04 283.64
2015-12-31 309.46 38.17 277.44
2015-09-30 299.33 20.59 271.06
2015-06-30 287.35 28.21 260.17
2015-03-31 274.94 32.44 270.93
2014-12-31 277.73 40.60 237.69
2014-09-30 270.16 45.61 219.57
2014-06-30 252.58 30.69 204.85
2014-03-31 236.90 14.15 202.31
2013-12-31 210.30 -4.84 218.32
2013-09-30 198.60 -0.69 219.89
2013-06-30 213.47 6.14 231.66
2013-03-31 233.25 0.89 221.91
2012-12-31 244.77 15.67 213.00
2012-09-30 268.29 8.37 226.02

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Banco di Desio e della Brianza has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Banco di Desio e della Brianza used its assets less efficiently than the IT Banks industry average last year based on Return on Assets.
  • Unable to establish if Banco di Desio e della Brianza improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Banco di Desio e della Brianza's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Banco di Desio e della Brianza has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BDB Health

 How is Banco di Desio e della Brianza's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Banco di Desio e della Brianza's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Banco di Desio e della Brianza Company Filings, last reported 3 months ago.

BIT:BDB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 936.41 3,012.30 56.40
2018-12-31 936.32 3,069.80 122.12
2018-09-30 888.22 3,223.22 282.62
2018-06-30 887.55 3,277.13 317.94
2018-03-31 915.01 3,387.64 73.38
2017-12-31 979.84 3,421.32 116.71
2017-09-30 940.06 3,369.11 77.33
2017-06-30 924.97 2,909.89 88.30
2017-03-31 918.09 3,015.77 62.45
2016-12-31 918.50 2,371.46 294.32
2016-09-30 938.10 2,482.43 73.06
2016-06-30 923.67 2,660.52 118.28
2016-03-31 928.67 2,485.93 224.42
2015-12-31 922.06 2,859.58 152.76
2015-09-30 917.01 2,924.71 334.79
2015-06-30 901.83 3,081.77 229.25
2015-03-31 929.81 3,244.55 258.37
2014-12-31 900.05 3,960.75 347.10
2014-09-30 924.87 3,846.32 87.02
2014-06-30 852.59 2,585.46 618.72
2014-03-31 846.68 2,600.22 35.09
2013-12-31 818.94 3,020.21 200.39
2013-09-30 800.48 2,692.16 37.21
2013-06-30 799.40 2,694.03 258.58
2013-03-31 821.23 2,745.35 40.96
2012-12-31 828.19 2,812.35 528.44
2012-09-30 806.47 2,623.80 83.25
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Banco di Desio e della Brianza has an acceptable proportion of non-loan assets held.
  • Banco di Desio e della Brianza's liabilities are made up of primarily low risk sources of funding.
  • Banco di Desio e della Brianza has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Banco di Desio e della Brianza's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Banco di Desio e della Brianza has a low allowance for bad loans.
  • Banco di Desio e della Brianza has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Banco di Desio e della Brianza's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Banco di Desio e della Brianza has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BDB Dividends

 What is Banco di Desio e della Brianza's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.17%
Current annual income from Banco di Desio e della Brianza dividends.
If you bought €2,000 of Banco di Desio e della Brianza shares you are expected to receive €83 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Banco di Desio e della Brianza's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.06%).
  • Banco di Desio e della Brianza's dividend is below the markets top 25% of dividend payers in Italy (4.46%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BIT:BDB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Italy Banks Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 5.9%
Italy Market Average Dividend Yield Market Cap Weighted Average of 185 Stocks 4%
Italy Minimum Threshold Dividend Yield 10th Percentile 1%
Italy Bottom 25% Dividend Yield 25th Percentile 2.1%
Italy Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BIT:BDB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-06 0.084 4.261
2018-02-09 0.100 4.967
2017-03-06 0.085 3.524
2017-02-09 0.085 3.726
2016-05-12 0.085 4.650
2016-02-11 0.085 3.492
2015-04-28 0.075 2.489
2014-04-04 0.021 0.799
2014-03-13 0.021 0.759
2013-04-08 0.036 1.705
2012-04-04 0.105 5.233
2012-03-21 0.105 3.553
2011-04-06 0.105 3.201
2011-03-22 0.105 2.725
2010-04-13 0.105 2.700
2010-04-12 0.105 2.512
2010-03-25 0.105 2.480
2009-03-02 0.105 2.403
2009-01-02 0.105 2.266

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Banco di Desio e della Brianza's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Banco di Desio e della Brianza's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Banco di Desio e della Brianza afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banco di Desio e della Brianza has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BDB Management

 What is the CEO of Banco di Desio e della Brianza's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Angelo Antoniazzi
AGE 57
TENURE AS CEO 2 years
CEO Bio

Mr. Angelo Antoniazzi serves as General Manager at Banco di Desio e della Brianza SpA. He served as General Manager of Banca Popolare di Spoleto S.p.A. and has been its Director since February 1, 2019.

CEO Compensation
  • Insufficient data for Angelo to compare compensation growth.
  • Insufficient data for Angelo to establish whether their remuneration is reasonable compared to companies of similar size in Italy.
Management Team

Angelo Antoniazzi

TITLE
General Manager
AGE
57
TENURE
2 yrs

Mauro Colombo

TITLE
CFO, Senior Deputy GM & Financial Reporting Manager
TENURE
2.5 yrs

Giorgio Rossin

TITLE
Investor Relations

Maurizio Ballabio

TITLE
Deputy GM of Corporate Affairs & Chief Commercial Officer
Board of Directors Tenure

Average tenure and age of the Banco di Desio e della Brianza board of directors in years:

2.3
Average Tenure
59
Average Age
  • The average tenure for the Banco di Desio e della Brianza board of directors is less than 3 years, this suggests a new board.
Board of Directors

Stefano Lado

TITLE
Chairman of the Board
COMPENSATION
€255K
AGE
59
TENURE
2.3 yrs

Tommaso Cartone

TITLE
Vice Chairman of the Board
COMPENSATION
€1M
AGE
77
TENURE
2.3 yrs

Gerolamo Pellicanò

TITLE
Director
COMPENSATION
€95K
AGE
70
TENURE
17.3 yrs

Cristina Mahne

TITLE
Director
COMPENSATION
€94K
AGE
54
TENURE
6.2 yrs

Giulia Pusterla

TITLE
Chairman of Board of Statutory Auditors
COMPENSATION
€72K
AGE
59
TENURE
2.3 yrs

Nicolò Dubini

TITLE
Director
TENURE
2.3 yrs

Paolo Gavazzi

TITLE
Director
COMPENSATION
€105K

Agostino Gavazzi

TITLE
Director
COMPENSATION
€665K
AGE
74
TENURE
17.5 yrs

Egidio Gavazzi

TITLE
Director
COMPENSATION
€105K

Marina Brogi

TITLE
Independent Director
COMPENSATION
€29K
AGE
52
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Banco di Desio e della Brianza's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Banco di Desio e della Brianza has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BDB News

Simply Wall St News

What To Know Before Buying Banco di Desio e della Brianza S.p.A. (BIT:BDB) For Its Dividend

There are a few simple ways to reduce the risks of buying Banco di Desio e della Brianza for its dividend, and we'll go through these below. … Click the interactive chart for our full dividend analysis BIT:BDB Historical Dividend Yield, June 14th 2019 Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Banco di Desio e della Brianza paid out 29% of its profit as dividends, over the trailing twelve month period. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend. We update our data on Banco di Desio e della Brianza every 24 hours, so you can always get our latest analysis of its financial health, here. Dividend Volatility Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. Looking at the last decade of data, we can see that Banco di Desio e della Brianza paid its first dividend at least nine years ago. Although it has been paying a dividend for several years now, the dividend has been cut at least once by more than 20%, and we're cautious about the consistency of its dividend across a full economic cycle. During the past nine-year period, the first annual payment was €0.10 in 2010, compared to €0.084 last year. This works out to be a decline of approximately 2.5% per year over that time. Banco di Desio e della Brianza's dividend hasn't shrunk linearly at 2.5% per annum, but the CAGR is a useful estimate of the historical rate of change. A shrinking dividend over a nine-year period is not ideal, and we'd be concerned about investing in a dividend stock that lacks a solid record of growing dividends per share. Dividend Growth Potential Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. Earnings have grown at around 4.1% a year for the past five years, which is better than seeing them shrink! Banco di Desio e della Brianza is paying out less than half of its earnings, which we like. Earnings per share growth have grown slowly, which is not great, but if the retained earnings can be reinvested effectively, future growth may be stronger. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … In summary, we're unenthused by Banco di Desio e della Brianza as a dividend stock.

Simply Wall St -

Could Banco di Desio e della Brianza S.p.A.'s (BIT:BDB) Investor Composition Influence The Stock Price?

Banco di Desio e della Brianza is not a large company by global standards. … Check out our latest analysis for Banco di Desio e della Brianza BIT:BDB Ownership Summary, May 10th 2019 What Does The Institutional Ownership Tell Us About Banco di Desio e della Brianza? … We can see that Banco di Desio e della Brianza does have institutional investors; and they hold 6.8% of the stock.

Simply Wall St -

Should You Be Concerned About Banco di Desio e della Brianza S.p.A.'s (BIT:BDB) Historical Volatility?

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

What Kind Of Shareholder Owns Most Banco di Desio e della Brianza S.p.A. (BIT:BDB) Stock?

A look at the shareholders of Banco di Desio e della Brianza S.p.A. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Banco di Desio e della Brianza is a smaller company with a market capitalization of €256m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Understated Factors To Consider Before Investing In Banco di Desio e della Brianza S.p.A. (BIT:BDB)

As a small-cap finance stock with a market capitalisation of €237m, the risk and profitability of Banco di Desio e della Brianza S.p.A. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like Banco di Desio e della Brianza to vulnerabilities. … Today we will be measuring Banco di Desio e della Brianza’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Does Banco di Desio e della Brianza S.p.A. (BIT:BDB) Have A Place In Your Portfolio?

Historically, Banco di Desio e della Brianza S.p.A. … Does Banco di Desio e della Brianza tick all the boxes of a great dividend stock? … Check out our latest analysis for Banco di Desio e della Brianza?

Simply Wall St -

Does Banco di Desio e della Brianza S.p.A. (BIT:BDB) Have A High Beta?

(BIT:BDB), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Have You Considered These Key Risks For Banco di Desio e della Brianza SpA (BIT:BDB)?

As a small-cap bank with a market capitalisation of €238m, Banco di Desio e della Brianza SpA’s (BIT:BDB) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Banco di Desio e della Brianza’s bottom line. … Today we will analyse Banco di Desio e della Brianza’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

What You Must Know About Banco di Desio e della Brianza SpA's (BIT:BDB) Return on Equity

Banco di Desio e della Brianza SpA’s (BIT:BDB) most recent return on equity was a substandard 3.85% relative to its industry performance of 7.40% over the past year. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into BDB's past performance. … See our latest analysis for Banco di Desio e della Brianza

Simply Wall St -

What Does Banco di Desio e della Brianza SpA's (BIT:BDB) PE Ratio Tell You?

Banco di Desio e della Brianza SpA (BIT:BDB) is trading with a trailing P/E of 6.3x, which is lower than the industry average of 9.8x. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind. … Check out our latest analysis for Banco di Desio e della Brianza

Simply Wall St -

BDB Company Info

Description

Banco di Desio e della Brianza S.p.A. provides a range of banking, financial, and insurance solutions for individuals and companies in Italy. The company offers current accounts, managed accounts, deposits, mortgages and loans, personal loans, factoring, leasing, telematics, securities, and cards and mobility services, as well as life insurance, auto insurance, and other non-life insurance products. It has approximately 265 branches. The company was founded in 1909 and is headquartered in Desio, Italy. Banco di Desio e della Brianza S.p.A. is a subsidiary of Brianza Unione di Luigi Gavazzi & C. S.A.p.A.

Details
Name: Banco di Desio e della Brianza S.p.A.
BDB
Exchange: BIT
Founded: 1909
€271,669,810
135,947,289
Website: http://www.bancodesio.it
Address: Banco di Desio e della Brianza S.p.A.
via E. Rovagnati 1,
Desio,
20832,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT BDB Ordinary Shares Borsa Italiana IT EUR 08. May 1995
BST BJ7 Ordinary Shares Boerse-Stuttgart DE EUR 08. May 1995
LSE 0O5V Ordinary Shares London Stock Exchange GB EUR 08. May 1995
BATS-CHIXE BDBM Ordinary Shares BATS 'Chi-X Europe' GB EUR 08. May 1995
BIT BDBR Saving Shares Borsa Italiana IT EUR 02. Feb 1999
BATS-CHIXE BDBRM Saving Shares BATS 'Chi-X Europe' GB EUR 02. Feb 1999
Number of employees
Current staff
Staff numbers
2,199
Banco di Desio e della Brianza employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 20:47
End of day share price update: 2019/07/18 00:00
Last earnings filing: 2019/05/16
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.