Chang Jiang Shang Bao·2025-11-24 00:32Core Viewpoint - The A-share banking sector is experiencing a strong "buying frenzy" driven by market style shifts and substantial mid-term dividend distributions, with Agricultural Bank of China leading the surge with a nearly 60% increase year-to-date [1][4]. Market Performance - As of November 21, 2023, the total market capitalization of the six major state-owned banks reached 10.61 trillion yuan, accounting for 69.5% of all listed banks, with an increase of 2.45 trillion yuan compared to the end of 2024 [1][4]. - The average dividend yield for listed banks is 4.47%, with 12 banks yielding over 5% [1][8]. Dividend Distribution - A total of 24 listed banks have announced mid-term dividend plans, with a combined payout of 263.8 billion yuan, of which the six major state-owned banks plan to distribute over 204.6 billion yuan [6][8]. - The mid-term dividend distribution is occurring earlier than in 2024, with the record date set for mid-December [8]. Stock Performance - Agricultural Bank of China has seen a year-to-date increase of 57.9%, while other major banks like Industrial and Commercial Bank of China and China Bank have also performed well, with respective increases of 24.77% and 16.73% [4][6]. - As of November 21, 2023, the stock price of China Bank reached 6.29 yuan per share, with a year-to-date increase of 19.41%, ranking eighth among 42 listed banks [2][4]. Investment Trends - Recent increases in shareholdings by significant stakeholders in various banks signal positive market sentiment [9]. - The banking sector's performance is supported by a stable fundamental outlook, high dividend yields, and low valuations, making it an attractive investment option [5][6].