Stock Analysis
King's Town Bank Second Quarter 2024 Earnings: Beats Expectations
King's Town Bank (TWSE:2809) Second Quarter 2024 Results
Key Financial Results
- Revenue: NT$2.18b (down 8.5% from 2Q 2023).
- Net income: NT$1.22b (down 19% from 2Q 2023).
- Profit margin: 56% (down from 64% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
- EPS: NT$1.09 (down from NT$1.36 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
King's Town Bank Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 4.8%.
Looking ahead, revenue is expected to fall by 2.3% p.a. on average during the next 2 years compared to a 3.4% decline forecast for the Banks industry in Taiwan.
Performance of the Taiwanese Banks industry.
The company's shares are up 3.4% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 2 warning signs for King's Town Bank (1 is a bit concerning!) that you should be aware of.
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About TWSE:2809
King's Town Bank
Provides various banking products and services in Taiwan.