2024Q3银行板块公募基金重仓数据点评：银行重仓比例小幅上升，红利资产仍受青睐

Investment Rating - The report maintains a "Recommended" rating for the banking sector, highlighting its continued attractiveness for investment [3]. Core Insights - The report indicates a slight increase in the proportion of public funds invested in the banking sector, with a low allocation ratio of 8.46% in Q3 2024, narrowing by 0.69 percentage points from Q2 2024 [1]. - The total market value of funds held in the banking sector reached 45.24 billion, an increase of 9.91% from the previous quarter, with a holding ratio of 2.79%, up by 0.02 percentage points [1]. - High dividend strategies remain favored, with increased attention on certain joint-stock banks and regional banks due to the anticipated policy shifts by the end of September [2]. Summary by Sections Fund Holdings - In Q3 2024, the total market value of funds held in the banking sector was 45.24 billion, with a holding ratio of 2.79%, ranking 12th among the first-level industries [1]. - The allocation ratios for state-owned banks, joint-stock banks, city commercial banks, and rural commercial banks were 5.62%, 2.5%, 0.23%, and 0.11%, respectively [1]. - The top five banks by total market value of fund holdings were China Merchants Bank, Ningbo Bank, Chengdu Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China [2]. Investment Recommendations - The report suggests that the banking sector's allocation value is highlighted by the benefits from policy shifts, with specific recommendations for Industrial and Commercial Bank of China, China Construction Bank, Postal Savings Bank of China, Jiangsu Bank, and Changshu Bank [3]. - The report emphasizes that the fiscal and monetary policies are strengthening counter-cyclical adjustments, which are expected to benefit credit issuance and asset quality in the banking sector [3].