银行股冲高：中信银行领涨 40只银行股飘红

Core Viewpoint - The banking sector is experiencing a positive trend, with significant gains in bank stocks, particularly in state-owned banks, driven by favorable valuations and strong dividend yields [1] Summary by Sections Market Performance - On April 18, the Shanghai Composite Index briefly surpassed 3100 points, with the financial sector showing overall gains and bank stocks performing notably well [1] - Citic Bank reached its daily limit again, with a peak increase of over 6%, closing at 7.93 yuan per share, marking a 9.08% rise [1] - Other banks such as Ningbo Bank, Xi'an Bank, Ping An Bank, and Lanzhou Bank also saw increases exceeding 3% [1] - As of the close, 40 bank stocks, including Citic Bank, were in the green [1] Institutional Investment - The valuation of state-owned banks is viewed positively, with Huijin Investment recently increasing its holdings in the four major banks [1] - As of April 10, 2024, Huijin had cumulatively increased its holdings in major banks, acquiring over 1 billion shares across several banks, including 287 million shares of ICBC and 401 million shares of ABC [1] Dividend and Valuation Insights - The six major state-owned banks plan to distribute a total of 413.4 billion yuan in dividends for 2023, with a dividend payout ratio of 30% or more [1] - Changjiang Securities noted that low-valued dividend assets are being continuously allocated by the market, leading to a significant change in the valuation system of bank stocks [1] - Guosen Securities indicated that the current low valuation of the banking sector presents minimal downside risk, with potential for valuation recovery if the macro economy continues to improve [1] Investment Strategies - Wanlian Securities highlighted that the high dividend yield and low valuation of bank stocks make them a preferred choice for investors, especially amid rising defensive market demand [1] - The focus for selecting high-dividend stocks is shifting towards the stability of earnings, as the overall profit growth of the banking sector may have entered a bottoming phase [1]