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BOV

Bank of VallettaMTSE:BOV Stock Report

Market Cap

€496.3m

7D

-1.2%

1Y

-20.6%

Updated

06 Dec, 2021

Data

Company Financials
BOV fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance0/6
Financial Health4/6
Dividends0/6

BOV Stock Overview

Bank of Valletta p.l.c. provides banking, financial, and investment products and services in Malta.

Price History & Performance

Summary of all time highs, changes and price drops for Bank of Valletta
Historical stock prices
Current Share Price€0.85
52 Week High€1.08
52 Week Low€0.81
Beta0.43
1 Month Change-2.30%
3 Month Change-4.49%
1 Year Change-20.56%
3 Year Change-29.17%
5 Year Change-55.84%
Change since IPO208.57%

Recent News & Updates

Feb 19
Is Bank of Valletta p.l.c.'s (MTSE:BOV) 2.8% Dividend Worth Your Time?

Is Bank of Valletta p.l.c.'s (MTSE:BOV) 2.8% Dividend Worth Your Time?

Could Bank of Valletta p.l.c. ( MTSE:BOV ) be an attractive dividend share to own for the long haul? Investors are...

Dec 28
Reflecting on Bank of Valletta's (MTSE:BOV) Share Price Returns Over The Last Five Years

Reflecting on Bank of Valletta's (MTSE:BOV) Share Price Returns Over The Last Five Years

Bank of Valletta p.l.c. ( MTSE:BOV ) shareholders should be happy to see the share price up 13% in the last quarter...

Shareholder Returns

BOVMT BanksMT Market
7D-1.2%2.3%-1.1%
1Y-20.6%18.3%-7.7%

Return vs Industry: BOV underperformed the MT Banks industry which returned 18.3% over the past year.

Return vs Market: BOV underperformed the MT Market which returned -7.7% over the past year.

Price Volatility

Is BOV's price volatile compared to industry and market?
BOV volatility
BOV Average Weekly Movement4.2%
Banks Industry Average Movement3.7%
Market Average Movement4.9%
10% most volatile stocks in MT Market9.8%
10% least volatile stocks in MT Market2.6%

Stable Share Price: BOV is not significantly more volatile than the rest of MT stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BOV's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19741,884Ricky Hunkinhttps://www.bov.com

Bank of Valletta p.l.c. provides banking, financial, and investment products and services in Malta. The company operates through Personal Banking & Wealth Management, Corporate Banking, Proprietary Investments, and Liquidity Management segments. It offers call, current, reserve cheque, savings, term deposit, term ISA, and young savers accounts, as well as eAccounts; home loans, personal loans, motor loans, boat and yacht financing products, education loans, budget accounts, and overdraft accounts; life insurance and retirement products; various cards, including contactless, debit, credit, prepaid, and charge cards; and safe keeping services.

Bank of Valletta Fundamentals Summary

How do Bank of Valletta's earnings and revenue compare to its market cap?
BOV fundamental statistics
Market Cap€496.27m
Earnings (TTM)€23.16m
Revenue (TTM)€182.14m

21.4x

P/E Ratio

0.5x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BOV income statement (TTM)
Revenue€182.14m
Cost of Revenue€0
Gross Profit€182.14m
Expenses€158.98m
Earnings€23.16m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.04
Gross Margin100.00%
Net Profit Margin12.72%
Debt/Equity Ratio68.8%

How did BOV perform over the long term?

See historical performance and comparison

Valuation

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

16.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BOV (€0.85) is trading below our estimate of fair value (€1.02)

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


Price To Earnings Ratio

PE vs Industry: BOV is poor value based on its PE Ratio (21.4x) compared to the European Banks industry average (10.4x).

PE vs Market: BOV is good value based on its PE Ratio (21.4x) compared to the MT market (23.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BOV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BOV is good value based on its PB Ratio (0.5x) compared to the XE Banks industry average (0.7x).


Future Growth

How is Bank of Valletta forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

4.6%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Bank of Valletta has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Bank of Valletta performed over the past 5 years?

-26.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BOV has a large one-off gain of €8.6M impacting its June 30 2021 financial results.

Growing Profit Margin: BOV's current net profit margins (12.7%) are lower than last year (15%).


Past Earnings Growth Analysis

Earnings Trend: BOV's earnings have declined by 26.3% per year over the past 5 years.

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

Earnings vs Industry: BOV had negative earnings growth (-34.6%) over the past year, making it difficult to compare to the Banks industry average (38%).


Return on Equity

High ROE: BOV's Return on Equity (2.1%) is considered low.


Financial Health

How is Bank of Valletta'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: BOV's Assets to Equity ratio (12.5x) is moderate.

Allowance for Bad Loans: BOV has a low allowance for bad loans (63%).

Low Risk Liabilities: 91% of BOV's liabilities are made up of primarily low risk sources of funding.

Loan Level: BOV has an appropriate level of Loans to Assets ratio (39%).

Low Risk Deposits: BOV's Loans to Deposits ratio (46%) is appropriate.

Level of Bad Loans: BOV has a high level of bad loans (5%).


Dividend

What is Bank of Valletta current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

High Dividend: Unable to evaluate BOV's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BOV's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: BOV is not paying a notable dividend for the MT market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BOV's dividend in 3 years as they are not forecast to pay a notable one for the MT market.


Next Steps

Management

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

7.1yrs

Average management tenure


CEO

Ricky Hunkin

1.92yrs

Tenure

€459,458

Compensation

Mr. Rick David Hunkin, also known as Ricky, has been Chief Executive Officer and Director of Bank of Valletta Plc since January 1, 2020 and serves as its Member of Executive Committee. Mr. Hunkin served as...


CEO Compensation Analysis

Compensation vs Market: Ricky's total compensation ($USD518.17K) is about average for companies of similar size in the MT market ($USD651.26K).

Compensation vs Earnings: Insufficient data to compare Ricky's compensation with company performance.


Leadership Team

Experienced Management: BOV's management team is seasoned and experienced (7.1 years average tenure).


Board Members

Experienced Board: BOV's board of directors are considered experienced (3.2 years average tenure).


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.


Ownership Breakdown

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


Top Shareholders

Company Information

Bank of Valletta p.l.c.'s employee growth, exchange listings and data sources


Key Information

  • Name: Bank of Valletta p.l.c.
  • Ticker: BOV
  • Exchange: MTSE
  • Founded: 1974
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €496.272m
  • Shares outstanding: 583.85m
  • Website: https://www.bov.com

Number of Employees


Location

  • Bank of Valletta p.l.c.
  • 58, Triq San Zakkarija
  • Valletta
  • VLT 1130
  • Malta

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/06 21:43
End of Day Share Price2021/12/06 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.