中信证券：银行板块仍在经历重估净资产过程 建议投资者保持积极配置策略

Core Viewpoint - Recent trends indicate that insurance institutions are actively acquiring stakes in banks, while the relative returns of the banking sector are weakening, leading to heightened investor attention on future bank stock performance [1] Group 1: Banking Sector Analysis - The banking sector is undergoing a revaluation of net assets, which, combined with the stratification logic in the stock market, is expected to enhance the value of bank stocks for institutional investors over the long term [1] - There remains an under-allocation of long-term capital in the banking sector, suggesting that absolute value will continue to unfold in the future [1] - A recovery in bank valuations to above 1 times net assets is highly probable, and if bullish market characteristics strengthen, the subsequent sector rotation effect will further catalyze the performance of bank stocks [1] Group 2: Investment Strategy - Investors are advised to maintain an active allocation strategy towards bank stocks, given the anticipated positive developments in the sector [1]