OTCPK:BPXX.Y

Stock Analysis Report

Executive Summary

BPER Banca S.p.A. provides corporate and investment banking, private banking and wealth management, and financial products and services to individuals, and small and medium enterprises in Italy and internationally.

Snowflake

Fundamentals

Good value with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

BPXX.Y

2.7%

US Banks

0.4%

US Market


1 Year Return

-19.5%

BPXX.Y

2.7%

US Banks

6.9%

US Market

Return vs Industry: BPXX.Y underperformed the US Banks industry which returned 2.7% over the past year.

Return vs Market: BPXX.Y underperformed the US Market which returned 6.9% over the past year.


Shareholder returns

BPXX.YIndustryMarket
7 Day0%2.7%0.4%
30 Day0%0.2%-1.2%
90 Dayn/a2.9%-0.4%
1 Year-17.6%-19.5%5.7%2.7%9.3%6.9%
3 Year-5.0%-9.2%52.1%41.6%45.8%36.4%
5 Yearn/a69.2%50.7%62.9%45.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

9.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: BPXX.Y ($6.82) is trading above our estimate of fair value ($3)

Significantly Undervalued: BPXX.Y is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BPXX.Y is good value based on its PE Ratio (9.7x) compared to the Banks industry average (12.6x).

PE vs Market: BPXX.Y is good value based on its PE Ratio (9.7x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

Low PEG Ratio: BPXX.Y is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: BPXX.Y is good value based on its PB Ratio (0.4x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is BPER Banca forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

17.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BPXX.Y's forecast earnings growth (17.1% per year) is above the savings rate (2.7%).

Earnings vs Market: BPXX.Y's earnings (17.1% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: BPXX.Y's earnings are forecast to grow, but not significantly.

Revenue vs Market: BPXX.Y's revenue (6.1% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: BPXX.Y's revenue (6.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: BPXX.Y's Return on Equity is forecast to be low in 3 years time (6.5%).


Next Steps

Past Performance

How has BPER Banca performed over the past 5 years?

34.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BPXX.Y's earnings have grown significantly by 34.6% per year over the past 5 years.

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

Earnings vs Industry: BPXX.Y had negative earnings growth (-46.7%) over the past year, making it difficult to compare to the Banks industry average (29.6%).


Return on Equity

High ROE: BPXX.Y's Return on Equity (4.7%) is considered low.


Return on Assets

ROA vs Industry: BPXX.Y's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is BPER Banca'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: BPXX.Y has a low level of unsold assets or inventory.

Debt Coverage by Assets: BPXX.Y's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: BPXX.Y's level of assets compared to its equity is moderate.

Allowance for Bad Loans: BPXX.Y has a low allowance for bad loans.

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

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

Low Risk Deposits: BPXX.Y has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: BPXX.Y has a high level of bad loans (12.24%)


Next Steps

Dividend

What is BPER Banca's current dividend yield, its reliability and sustainability?

3.32%

Current Dividend Yield


Dividend Yield vs Market

company3.3%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years4.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BPXX.Y's dividend (3.32%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: BPXX.Y's dividend (3.32%) is low compared to the top 25% of dividend payers in the US market (3.73%).

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

Growing Dividend: BPXX.Y's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.1%), BPXX.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BPXX.Y's dividends in 3 years are forecast to be well covered by earnings (29.8% payout ratio).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Alessandro Vandelli (60yo)

5.5yrs

Tenure

€1,085,000

Compensation

Mr. Alessandro Vandelli graduated with honours in Economics and Commerce from Modena University in 1984. He subsequently attended various management training courses. He has collaborated with business asso ...


CEO Compensation Analysis

Compensation vs. Market: Alessandro's total compensation ($USD0.00) is too low to compare against companies of similar size in the US market ($USD4.00M).

Compensation vs Earnings: Alessandro's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.7yrs

Average Tenure

Experienced Management: BPXX.Y's management team is seasoned and experienced (5.7 years average tenure).


Board Age and Tenure

2.5yrs

Average Tenure

61yo

Average Age

Experienced Board: BPXX.Y's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


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

  • Alessandro Vandelli (60yo)

    MD & Director

    • Tenure: 5.5yrs
    • Compensation: €1.09m
  • Fabrizio Togni (62yo)

    General Manager

    • Tenure: 6.8yrs
    • Compensation: €636.00k
  • Gilberto Borghi

    Head of Investor Relations

    • Tenure: 0yrs
  • Alessandro Simonazzi

    Head of Planning & Control

    • Tenure: 0yrs
  • Emilio Annovi

    Financial Reporting Officer and Manager of Administration & Reporting Department

    • Tenure: 0yrs
  • Gian Venturini

    Head of General Affairs Department

    • Tenure: 5.8yrs
  • Claudio Battistella

    Chief Lending Officer

    • Tenure: 3.8yrs
  • Roberto Ferrari

    Chief Financial Officer

    • Tenure: 0yrs
  • Matteo Bigarelli

    Head of Equity Investments and Special Projects

    • Tenure: 0yrs

Board Members

  • Mara Bernardini (62yo)

    Independent Director

    • Tenure: 5.8yrs
    • Compensation: €73.00k
  • Pietro Ferrari (64yo)

    Chairman

    • Tenure: 1.5yrs
    • Compensation: €83.00k
  • Alessandro Vandelli (60yo)

    MD & Director

    • Tenure: 5.5yrs
    • Compensation: €1.09m
  • Elisabetta Gualandri (64yo)

    Independent Director

    • Tenure: 7.2yrs
    • Compensation: €102.00k
  • Valeria Venturelli (50yo)

    Director

    • Tenure: 3.5yrs
  • Roberta Marracino (52yo)

    Director

    • Tenure: 2.5yrs
  • Giuseppe Capponcelli

    Deputy Chairman

    • Tenure: 2.5yrs
  • Rossella Schiavini

    Director

    • Tenure: 2.5yrs
  • Massimo Belcredi

    Director

    • Tenure: 2.5yrs
  • Paolo De Mitri

    Chairman of the Statutory Auditors

    • Tenure: 0yrs

Company Information

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


Key Information

  • Name: BPER Banca S.p.A.
  • Ticker: BPXX.Y
  • Exchange: OTCPK
  • Founded: 1867
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €2.012b
  • Listing Market Cap: €2.242b
  • Shares outstanding: 513.85m
  • Website: https://www.bper.it

Number of Employees


Location

  • BPER Banca S.p.A.
  • Via San Carlo 8/20
  • Modena
  • Modena
  • 41121
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BPEBIT (Borsa Italiana)YesOrdinary SharesITEURMar 1992
0MU6LSE (London Stock Exchange)YesOrdinary SharesGBEURMar 1992
4BEDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 1992
BPEMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMar 1992
BPEWBAG (Wiener Boerse AG)YesOrdinary SharesATEURMar 1992
BPXX.YOTCPK (Pink Sheets LLC)ADRUSUSDJan 2013

Biography

BPER Banca S.p.A. provides corporate and investment banking, private banking and wealth management, and financial products and services to individuals, and small and medium enterprises in Italy and interna ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 00:33
End of Day Share Price2019/08/14 00:00
Earnings2019/06/30
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.