OTCPK:BKHP.F

Stock Analysis Report

Executive Summary

Bank Hapoalim B.M., together with its subsidiaries, provides a range of banking and financial products and services in Israel and internationally.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Bank Hapoalim B.M's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

13.0%

BKHP.F

16.8%

US Banks

12.5%

US Market


1 Year Return

n/a

BKHP.F

-26.9%

US Banks

-12.7%

US Market

Return vs Industry: Insufficient data to determine how BKHP.F performed against the US Banks industry.

Return vs Market: Insufficient data to determine how BKHP.F performed against the US Market.


Shareholder returns

BKHP.FIndustryMarket
7 Day13.0%16.8%12.5%
30 Day-34.9%-24.7%-14.7%
90 Dayn/a-38.6%-21.5%
1 Yearn/a-24.8%-26.9%-10.9%-12.7%
3 Yearn/a-16.9%-23.0%12.6%5.4%
5 Yearn/a12.0%-0.7%31.9%17.5%

Price Volatility Vs. Market

How volatile is Bank Hapoalim B.M's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Bank Hapoalim B.M undervalued compared to its fair value and its price relative to the market?

17.89x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BKHP.F ($5.44) is trading above our estimate of fair value ($5)

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


Price To Earnings Ratio

PE vs Industry: BKHP.F is poor value based on its PE Ratio (17.9x) compared to the Banks industry average (8.8x).

PE vs Market: BKHP.F is poor value based on its PE Ratio (17.9x) compared to the US market (13x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BKHP.F is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Bank Hapoalim B.M forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-1.1%

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 Hapoalim B.M 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.


Next Steps

Past Performance

How has Bank Hapoalim B.M performed over the past 5 years?

-8.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BKHP.F has high quality earnings.

Growing Profit Margin: BKHP.F's current net profit margins (12.6%) are lower than last year (17%).


Past Earnings Growth Analysis

Earnings Trend: BKHP.F's earnings have declined by -8% per year over the past 5 years.

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

Earnings vs Industry: BKHP.F had negative earnings growth (-32.6%) over the past year, making it difficult to compare to the Banks industry average (11%).


Return on Equity

High ROE: BKHP.F's Return on Equity (3.9%) is considered low.


Next Steps

Financial Health

How is Bank Hapoalim B.M'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: BKHP.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: BKHP.F's debt is covered by short term assets (assets are 2.8x debt).


Financial Institutions Analysis

Asset Level: BKHP.F's level of assets compared to its equity is moderate.

Allowance for Bad Loans: BKHP.F has a sufficient allowance for bad loans.

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

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

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

Level of Bad Loans: BKHP.F has an appropriate level of bad loans (0.86%)


Next Steps

Dividend

What is Bank Hapoalim B.M's current dividend yield, its reliability and sustainability?

3.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BKHP.F's dividend (3.72%) is higher than the bottom 25% of dividend payers in the US market (1.98%).

High Dividend: BKHP.F's dividend (3.72%) is low compared to the top 25% of dividend payers in the US market (5.49%).


Stability and Growth of Payments

Stable Dividend: BKHP.F has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BKHP.F's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (66.5%), BKHP.F's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BKHP.F's dividends in 3 years are forecast to be well covered by earnings (31.4% payout ratio).


Next Steps

Management

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

4.0yrs

Average management tenure


CEO

Dov Kotler (63yo)

0.42

Tenure

₪6,009,000

Compensation

Mr. Dov Kotler has been Chief Executive Officer and Member of the Board of Management at Bank Hapoalim B.M. since October 01, 2019. He is President at Bank Hapoalim B.M. Mr. Kotler serves as a Member of Ad ...


CEO Compensation Analysis

Compensation vs Market: Dov's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD7.36M).

Compensation vs Earnings: Dov's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Yadin Antebi
Senior Deputy MD6.67yrs₪2.75m0.013% 967.3k
Eti Ben-Zeev
Chief Information Officer4yrs₪2.78m0.0032% 240.1k
Yael Almog
Chief Legal Counsel & Member of the Board of Management2.17yrs₪2.45m0.00045% 33.9k
Golan Scherman
Head of Innovation & Corporate Strategy and Member of Management Board2yrs₪2.13m0.0014% 106.9k
Ron Weksler
Chief Executive Officer of Isracard4yrs₪2.64mno data
Dov Kotler
President0.42yr₪6.01mno data
Ram Gev
CFO & Member of Management Board0.17yrno datano data
Ofer Levy
Chief Accountant13.83yrs₪5.51m0.0079% 593.2k
Tsahi Cohen
Head of Corporate Banking & Member of the Board of Management7.67yrs₪3.04m0.013% 992.9k
Zeev Hayo
Chief Internal Auditor5.67yrs₪4.76m0.0052% 392.2k

4.0yrs

Average Tenure

53yo

Average Age

Experienced Management: BKHP.F's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Avner
External Director0.50yrno datano data
Dalia Lev
External Director1.92yrsno datano data
Moshe Koren
Director27.58yrsno data0.00097% 73.0k
Noam Hanegbi
External Director0.42yrno datano data
Ronit Abramson-Rokach
External Director2yrsno datano data
Oded Eran
Chairman of the Board3.17yrs₪2.84m0.0015% 115.2k
David Zvilichovsky
Director0.50yrno datano data
Reuven Krupik
External Director4yrsno datano data
Richard Kaplan
Director1.67yrsno datano data

1.9yrs

Average Tenure

64yo

Average Age

Experienced Board: BKHP.F's board of directors are not considered experienced ( 1.9 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Bank Hapoalim B.M.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bank Hapoalim B.M.
  • Ticker: BKHP.F
  • Exchange: OTCPK
  • Founded: 1921
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₪26.904b
  • Listing Market Cap: ₪7.528b
  • Shares outstanding: 1.34b
  • Website: https://www.bankhapoalim.com

Number of Employees


Location

  • Bank Hapoalim B.M.
  • Global Private Banking Center
  • 104 Hayarkon Street
  • Tel Aviv
  • 63432
  • Israel

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
POLITASE (The Tel-Aviv Stock Exchange)YesOrdinary SharesILILSJul 1995
BKHP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 1995
BKHY.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDMay 2006

Biography

Bank Hapoalim B.M., together with its subsidiaries, provides a range of banking and financial products and services in Israel and internationally. The company offers account-management services, credits for various purposes, deposits, and savings plans; securities, and currencies and derivatives trading services; securities custody services; research, consulting, and advisory services; pension advisory services; and housing loans. It also provides credit for routine operations and investment financing, guarantees, letters of credit, foreign trade, and transactions in financial and derivative instruments, as well as investment services in various channels, such as foreign currency, shekels, securities, etc. In addition, the company offers financing for infrastructure project, foreign trade and international trade financing, and project financing services; foreign trade transactions and transactions in financial derivatives; credit cards; and check settlement guaranteeing and discounting, direct sale-slips discounting, and factoring services. Further, it provides payment products; and asset management, investment portfolio management, investment banking, underwriting, issuance management, retirement planning, foreign exchange, and brokerage services. The company serves households, private-banking clients, foreign residents, small businesses, financial-asset managers, middle-market business clients, and large corporations through 225 branches, 523 external and 101 internal automatic teller machines, 309 external and 302 internal check-deposit machines, 87 information stations, and 281 self-service stations. Bank Hapoalim B.M. was founded in 1921 and is based in Tel Aviv, Israel. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 03:06
End of Day Share Price2020/03/24 00:00
Earnings2019/12/31
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.