MISX:AVAN

Stock Analysis Report

Executive Summary

AVANGARD Joint Stock BANK provides various banking products and services to individual and corporate clients in Russia.

Snowflake

Fundamentals

Adequate balance sheet with acceptable track record.

Share Price & News

How has AVANGARD BANK's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.2%

AVAN

2.2%

RU Banks

1.5%

RU Market


1 Year Return

43.5%

AVAN

27.2%

RU Banks

16.2%

RU Market

Return vs Industry: AVAN exceeded the Russian Banks industry which returned 27.2% over the past year.

Return vs Market: AVAN exceeded the Russian Market which returned 16.2% over the past year.


Shareholder returns

AVANIndustryMarket
7 Day-3.2%2.2%1.5%
30 Day-9.0%1.4%-0.3%
90 Day-12.9%2.1%4.2%
1 Year53.1%43.5%35.5%27.2%24.6%16.2%
3 Year75.7%61.0%80.4%55.0%66.9%40.9%
5 Year233.0%205.0%274.7%214.8%164.7%107.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is AVANGARD BANK undervalued compared to its fair value and its price relative to the market?

8.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AVAN (RUB610) is trading above our estimate of fair value (RUB407.58)

Significantly Below Fair Value: AVAN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AVAN is poor value based on its PE Ratio (8.4x) compared to the Banks industry average (7.5x).

PE vs Market: AVAN is poor value based on its PE Ratio (8.4x) compared to the Russian market (6.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: AVAN is overvalued based on its PB Ratio (1.8x) compared to the RU Banks industry average (0.6x).


Next Steps

Future Growth

How is AVANGARD BANK forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-2.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AVAN's earnings are forecast to decline over the next 3 years (-2.6% per year).

Earnings vs Market: AVAN's earnings are forecast to decline over the next 3 years (-2.6% per year).

High Growth Earnings: AVAN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if AVAN's revenue is forecast to grow faster than the Russian market.

High Growth Revenue: Insufficient data to determine if AVAN's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AVAN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has AVANGARD BANK performed over the past 5 years?

27.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AVAN's earnings have grown significantly by 27.9% per year over the past 5 years.

Accelerating Growth: AVAN's earnings growth over the past year (0.8%) is below its 5-year average (27.9% per year).

Earnings vs Industry: AVAN earnings growth over the past year (0.8%) underperformed the Banks industry 0.8%.


Return on Equity

High ROE: AVAN's Return on Equity (21.5%) is considered high.


Return on Assets

ROA vs Industry: AVAN has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate AVAN's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is AVANGARD BANK'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

Inventory Level: AVAN has a low level of unsold assets or inventory.

Debt Coverage by Assets: AVAN's debt is covered by short term assets (assets are 20.358320x debt).


Financial Institutions Analysis

Asset Level: AVAN's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if AVAN has a sufficient allowance for bad loans.

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

Loan Level: AVAN has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AVAN's loans are broadly funded by customer deposits.

Level of Bad Loans: Insufficient data to determine if AVAN has an appropriate level of bad loans.


Next Steps

Dividend

What is AVANGARD BANK's current dividend yield, its reliability and sustainability?

5.08%

Current Dividend Yield


Upcoming Dividend Payment

Purchase AVANGARD BANK before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company5.1%marketbottom25%3.2%markettop25%8.6%industryaverage6.6%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: AVAN's dividend (5.08%) is higher than the bottom 25% of dividend payers in the Russian market (3.24%).

High Dividend: AVAN's dividend (5.08%) is low compared to the top 25% of dividend payers in the Russian market (8.62%).

Stable Dividend: Too early to tell whether AVAN's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if AVAN's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.7%), AVAN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of AVANGARD BANK's salary, the management and board of directors tenure and is there insider trading?

6.0yrs

Average management tenure


CEO

AVANGARD BANK has no CEO, or we have no data on them.


Management Age and Tenure

6.0yrs

Average Tenure

Experienced Management: AVAN's management team is seasoned and experienced (6 years average tenure).


Board Age and Tenure

15.3yrs

Average Tenure

56yo

Average Age

Experienced Board: AVAN's board of directors are seasoned and experienced ( 15.3 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Kirill Minovalov (48yo)

    Chairman & President

    • Tenure: 24.8yrs
  • Sergey Nikolaev (64yo)

    Senior VP & Deputy Chairman of the Board

    • Tenure: 13.3yrs
  • Vladimir Andreyev

    Deputy Chairman of the Management Board

    • Tenure: 3.3yrs
  • L. Korshunova

    Deputy Chief Accountant

    • Tenure: 0yrs
  • V. Torkhov

    Chairman of Management Board

    • Tenure: 0yrs
  • Viktoria Chechotkina

    Member of Management Board

    • Tenure: 6yrs
  • Stanislav Konovalov

    Member of Management Board and Deputy Chairman of the Board

    • Tenure: 0yrs
  • Valentina Bastrakova

    Member of Management Board

    • Tenure: 0yrs
  • Irina Kazantseva

    Member of Management Board & Member of the Board

    • Tenure: 0yrs
  • Tatyana Adamenko

    Member of Management Board

    • Tenure: 0yrs

Board Members

  • Kirill Minovalov (48yo)

    Chairman & President

    • Tenure: 24.8yrs
  • Sergey Nikolaev (64yo)

    Senior VP & Deputy Chairman of the Board

    • Tenure: 13.3yrs
  • Mikhail Frantskevich

    Vice Chairman of the Board

    • Tenure: 13.8yrs
  • Anatoliy Yablonsky (54yo)

    Member of the Board

    • Tenure: 15.3yrs
  • Maria Melya

    Member of the Board

    • Tenure: 0yrs
  • Stanislav Konovalov

    Member of Management Board and Deputy Chairman of the Board

    • Tenure: 0yrs
  • Alla Andreevna

    Member of the Board

    • Tenure: 0yrs
  • Irina Kazantseva

    Member of Management Board & Member of the Board

    • Tenure: 0yrs
  • Yelena Shcherbakova

    Member of the Board

    • Tenure: 0yrs
  • Elena Shcherbakova (58yo)

    Director

    • Tenure: 18.3yrs

Company Information

AVANGARD Joint Stock BANK's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AVANGARD Joint Stock BANK
  • Ticker: AVAN
  • Exchange: MISX
  • Founded: 1994
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₽49.227b
  • Shares outstanding: 80.70m
  • Website: https://www.avangard.ru

Location

  • AVANGARD Joint Stock BANK
  • Building 1
  • st. Sadovnicheskaya, 12
  • Moscow
  • 115035
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AVANMISX (Micex - Rts)YesOrdinary SharesRURUBMar 2011

Biography

AVANGARD Joint Stock BANK provides various banking products and services to individual and corporate clients in Russia. The company offers deposits, car loans, and bank and corporate cards; and securities  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 21:25
End of Day Share Price2019/10/18 00:00
Earnings2019/03/31
Annual Earnings2018/12/31


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.