BIT:IF

Stock Analysis Report

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Executive Summary

Banca IFIS S.p.A. provides credit services and solutions for enterprises. More Details


Snowflake Analysis

Undervalued established dividend payer.

Share Price & News

How has Banca IFIS's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-10.6%

IF

-5.6%

IT Diversified Financial

-6.0%

IT Market


1 Year Return

-52.3%

IF

-30.5%

IT Diversified Financial

-22.1%

IT Market

Return vs Industry: IF underperformed the Italian Diversified Financial industry which returned -30.5% over the past year.

Return vs Market: IF underperformed the Italian Market which returned -22.1% over the past year.


Shareholder returns

IFIndustryMarket
7 Day-10.6%-5.6%-6.0%
30 Day-17.0%-7.9%-7.7%
90 Day-19.6%-8.7%-7.7%
1 Year-52.3%-52.3%-29.8%-30.5%-20.0%-22.1%
3 Year-83.6%-85.1%-26.1%-31.0%-20.1%-27.6%
5 Year-65.0%-69.7%-4.5%-9.8%-13.9%-33.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Banca IFIS undervalued compared to its fair value and its price relative to the market?

15.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IF (€6.97) is trading below our estimate of fair value (€8.26)

Significantly Below Fair Value: IF is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: IF is good value based on its PE Ratio (4.1x) compared to the IT Diversified Financial industry average (7.6x).

PE vs Market: IF is good value based on its PE Ratio (4.1x) compared to the Italian market (15.7x).


Price to Earnings Growth Ratio

PEG Ratio: IF is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: IF is good value based on its PB Ratio (0.2x) compared to the IT Diversified Financial industry average (1.8x).


Next Steps

Future Growth

How is Banca IFIS forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

24.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IF's forecast earnings growth (24.9% per year) is above the savings rate (2%).

Earnings vs Market: IF's earnings (24.9% per year) are forecast to grow faster than the Italian market (24% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: IF's revenue (12.1% per year) is forecast to grow faster than the Italian market (3.4% per year).

High Growth Revenue: IF's revenue (12.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IF's Return on Equity is forecast to be low in 3 years time (5.4%).


Next Steps

Past Performance

How has Banca IFIS performed over the past 5 years?

-13.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IF has high quality earnings.

Growing Profit Margin: IF's current net profit margins (21.7%) are lower than last year (31.5%).


Past Earnings Growth Analysis

Earnings Trend: IF's earnings have declined by 13.9% per year over the past 5 years.

Accelerating Growth: IF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: IF had negative earnings growth (-38.4%) over the past year, making it difficult to compare to the Diversified Financial industry average (-38.4%).


Return on Equity

High ROE: IF's Return on Equity (6.1%) is considered low.


Next Steps

Financial Health

How is Banca IFIS'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


Financial Institutions Analysis

Asset Level: IF's Assets to Equity ratio (7.5x) is low.

Allowance for Bad Loans: IF has a low allowance for bad loans (18%).

Low Risk Liabilities: 51% of IF's liabilities are made up of primarily higher risk sources of funding.

Loan Level: IF has an appropriate level of Loans to Assets ratio (72%).

Low Risk Deposits: IF's Loans to Deposits ratio (170%) is high.

Level of Bad Loans: IF has a high level of bad loans (23.8%).


Next Steps

Dividend

What is Banca IFIS current dividend yield, its reliability and sustainability?

15.06%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IF's dividend (15.06%) is higher than the bottom 25% of dividend payers in the Italian market (1.73%).

High Dividend: IF's dividend (15.06%) is in the top 25% of dividend payers in the Italian market (5.95%)


Stability and Growth of Payments

Stable Dividend: IF's dividend payments have been volatile in the past 10 years.

Growing Dividend: IF's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.3%), IF's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: IF's dividends in 3 years are forecast to be covered by earnings (55% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Luciano Colombini

1.5yrs

Tenure

Mr. Luciano Colombini is Director at Banca IFIS SpA since April 19, 2019 and also its Chief Executive Officer & Managing Director since April 2019. He began his professional career at Banco di Roma after g ...


Leadership Team

NamePositionTenureCompensationOwnership
Luciano Colombini
CEO, MD & Director1.5yrsno datano data
Ernesto Fassio
Deputy Chairman & VP1.5yrsno datano data
Mariacristina Taormina
Chief Financial Officer0.75yrno datano data
Andrea Da Rio
Head of Investor Relations & Corporate Development1.83yrsno datano data
Lucia Martinoli
Head of the Legal Affairs & Governance Department0.75yrno datano data
Francesco Peluso
Head of Compliance0.75yrno datano data
Rosalba Benedetto
Head of Communications0.75yrno datano data
Patrizia Giuliani
Chief HR Officer0.75yrno datano data
Paolo Marinelli
Head of Credit Managementno datano datano data
Raffaele Zingone
Head of Central Affairs Directorate0.75yrno datano data
Paolo Formigoni
Head of Planning0.75yrno datano data
Francesco De Marco
General Manager of Ifis Npl Servicing & Head of NPL Workout Management0.75yrno datano data

0.8yrs

Average Tenure

Experienced Management: IF's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Luciano Colombini
CEO, MD & Director1.5yrsno datano data
Ernesto Fassio
Deputy Chairman & VP1.5yrsno datano data
Sebastien Von Fürstenberg
Chairman of the Board4.5yrs€700.00k0.096%
€ 357.7k
Riccardo Preve
Director0.50yr€48.00kno data
Daniele Santosuosso
Independent Non-Executive Director4.5yrs€102.00kno data
Giacomo Bugna
Chairman of Board of Statutory Auditors no data€95.00kno data
Antonella Malinconico
Independent Non-Executive Director4.5yrsno datano data
Simona Arduini
Independent Lead Director1.5yrsno datano data
Beatrice Colleoni
Independent Director1.5yrsno datano data
Monica Billio
Independent Director1.5yrsno datano data
Luca Giudice
Director1.5yrsno datano data
Divo Gronchi
Independent Director1.5yrsno datano data

1.5yrs

Average Tenure

Experienced Board: IF's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Banca IFIS S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banca IFIS S.p.A.
  • Ticker: IF
  • Exchange: BIT
  • Founded: 1983
  • Industry: Specialized Finance
  • Sector: Diversified Financials
  • Market Cap: €372.614m
  • Shares outstanding: 53.46m
  • Website: https://www.bancaifis.it

Number of Employees


Location

  • Banca IFIS S.p.A.
  • Via Terraglio 63
  • Mestre
  • Venice
  • 30174
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IFBIT (Borsa Italiana)YesCommon StockITEURAug 2001
0NBXLSE (London Stock Exchange)YesCommon StockGBEURAug 2001
IFMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURAug 2001
0I6DB (Deutsche Boerse AG)YesCommon StockDEEURAug 2001

Biography

Banca IFIS S.p.A. provides credit services and solutions for enterprises. It engages in the purchase/management of non-performing loan portfolios. The company was founded in 1983 and is based in Mestre, It ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/28 20:38
End of Day Share Price2020/10/28 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.