Core Viewpoint - The share price of Bank of Queensland Limited (BOQ) is under scrutiny as investors attempt to establish a valuation for the company amidst fluctuating market conditions [1][2]. Valuation Methods - The Price-to-Earnings (PE) ratio is a key metric for valuing BOQ, with a current PE ratio of 15.9x compared to the banking sector average of 18x [5]. - A sector-adjusted PE valuation for BOQ, based on its earnings per share of $0.41, results in a valuation of $7.52 per share [5]. Dividend Valuation - The Dividend Discount Model (DDM) is highlighted as a robust method for valuing banks, using the most recent full-year dividends and assuming consistent growth [6][7]. - Using a DDM approach, BOQ shares are valued at $7.19 with a blended growth and risk rate, and at $7.40 with an adjusted dividend payment of $0.35 [10]. - Considering fully franked dividends, the valuation could rise to $10.57 based on a forecast gross dividend payment of $0.50 [11]. Growth and Risk Analysis - Various growth rates (2% to 4%) and risk rates (6% to 11%) yield a range of valuations, indicating the sensitivity of the share price to these assumptions [12]. - The analysis suggests that investing in a low-cost, dividend-paying ETF may be a viable alternative to investing directly in BOQ shares [12]. Management and Culture Assessment - The management team's effectiveness and company culture are critical factors in long-term investment decisions, with BOQ's culture not rated as perfect but still a consideration for potential investors [13].

National Australia Bank Ltd share price is on watch this month as ASX investors scramble to put a rough price target on the company. In this update, you’ll discover how to value a bank share like National Australia Bank Ltd, but remember this is just a quick version.Theshare price is on watch this month as ASX investors scramble to put a rough price target on the company. In this update, you’ll discover how to value a bank share like National Australia Bank Ltd, but remember this is just a quick version.Aus ...

Core Viewpoint - ANZ Banking Group's share price is under scrutiny as investors attempt to establish a valuation for the company amidst fluctuating market conditions [1][2] Valuation Methods - The PE ratio is a common method for valuing bank shares, comparing the share price to earnings per share [3] - Investors can use intuition, compare with sector averages, or apply a PE multiple to earnings to determine valuation [4] - ANZ's current share price is $36.42, with an earnings per share of $2.15, resulting in a PE ratio of 16.9x, lower than the sector average of 19x [5] Dividend Discount Model (DDM) - DDM is a traditional valuation model that uses dividends to estimate share value, factoring in a risk rate [6][7] - The formula for DDM is Share price = full-year dividend / (risk rate – dividend growth rate) [8] - Using a blended growth rate and risk rate between 6% and 11%, the average valuation for ANZ shares is $35.10, with an adjusted dividend leading to a valuation of $35.74 [10] Growth and Risk Analysis - Different growth and risk rate scenarios yield varying valuations, with a 2% growth rate and 6% risk rate suggesting a valuation of $42.25, while an 11% risk rate drops it to $18.78 [11] Additional Considerations - Evaluating net interest margins and regulatory responses is crucial for understanding ANZ's financial health [12] - Company culture is also a significant factor in long-term investment decisions, with ANZ's culture rated below perfect [12]

Bendigo & Adelaide Bank Ltd share price is on watch this month as ASX investors scramble to put a rough price target on the company. In this update, you’ll discover how to value a bank share like Bendigo & Adelaide Bank Ltd, but remember this is just a quick version.Theshare price is on watch this month as ASX investors scramble to put a rough price target on the company. In this update, you’ll discover how to value a bank share like Bendigo & Adelaide Bank Ltd, but remember this is just a quick version.Aus ...

Core Insights - The share price of Bank of Queensland Limited (BOQ) is currently under scrutiny as ASX investors attempt to establish a rough valuation of the company [1][2] Valuation Methods - The Price-to-Earnings (PE) ratio is a common method for valuing bank shares, comparing the company's share price to its earnings per share [3] - A PE ratio of 15.9x for BOQ is calculated based on a share price of $6.52 and earnings per share of $0.41, which is lower than the banking sector average PE of 19x [5] - A sector-adjusted PE valuation for BOQ is estimated at $7.59 based on the average PE ratio of the banking sector [5] Dividend Discount Model (DDM) - The Dividend Discount Model (DDM) is a more robust valuation method for banks, using recent or forecasted dividends and a risk rate [6][7] - The formula for DDM valuation is Share price = full-year dividend / (risk rate – dividend growth rate) [8] - A valuation of BOQ shares using a blended growth and risk rate yields an average valuation of $7.19, with an adjusted dividend payment increasing the valuation to $7.40 [10] Gross Dividend Valuation - Considering fully franked dividends, a gross dividend payment forecast of $0.50 results in a valuation of $10.57 for BOQ shares [11] Growth and Risk Rate Analysis - Various growth and risk rate scenarios indicate a wide range of potential valuations, with a 6% risk rate and 4% growth rate yielding a valuation of $17.50 [12] Additional Considerations - Further research is necessary to assess the sustainability of net interest margins and regulatory compliance for non-interest income [13] - The management team's culture and effectiveness are also critical factors in long-term investment decisions [13]

Core Points - The share buyback program is set to run from June 2, 2025, to January 30, 2026, with a total budget of up to DKK 1,000 million, allowing for the repurchase of a maximum of 1,600,000 shares [1] - The program is compliant with EU regulations, specifically EU Commission Regulation No. 596/2014 and EU Commission Delegated Regulation No. 2016/1052, which provide a "Safe Harbour" for such transactions [2] - As of the latest report, a total of 1,003,977 shares have been repurchased, representing 3.95% of the bank's share capital, with an average purchase price of DKK 1,335.85 [2] Transaction Summary - Total shares purchased under the program: 589,777 shares at an average price of DKK 1,426.26, totaling DKK 841,177,264 [2] - The bank executed additional buybacks from January 28, 2025, to May 28, 2025, acquiring 414,200 shares at an average price of DKK 1,207.12, amounting to DKK 499,988,706 [2] - The cumulative total of shares bought back under the program is 1,003,977 shares, with a total expenditure of DKK 1,341,165,970 [2] Detailed Transactions - A detailed breakdown of transactions on December 1, 2025, shows multiple purchases at varying prices, with the highest recorded price being DKK 1,443.28 for 4,700 shares [4][5] - The transactions were executed across various venues, with timestamps indicating precise execution times [4][5][6] - The data reflects a consistent buying strategy, with numerous small transactions contributing to the overall buyback totals [4][5][6]

Core Viewpoint - Westpac Banking Corp's share price is under scrutiny as ASX investors attempt to establish a target valuation for the company [1] Group 1: Market Context - Australia's major banks constitute approximately 30% of the share market by market capitalization [2] - The popularity of ASX bank shares has been notable since the early 1990s, particularly following a recession and high mortgage interest rates exceeding 15% [2] - Banks are generally considered to have implicit protection against total financial collapse, as their failure would pose significant political challenges [2] Group 2: Valuation Methods - The Price-to-Earnings (PE) ratio is a key metric for valuing shares, comparing a company's share price to its earnings per share [3] - Three methods to utilize the PE ratio include intuitive buying/selling based on PE levels, comparing with sector averages, and calculating a valuation based on expected earnings and a chosen PE multiple [4] - Westpac's current share price is $37.95, with an earnings per share of $1.92, resulting in a PE ratio of 19.8x, which is above the banking sector average of 18x [5] Group 3: Dividend Discount Model (DDM) - The Dividend Discount Model (DDM) is a traditional and robust method for valuing banking companies [6][7] - DDM valuation involves using the most recent full-year dividends or forecast dividends, assuming consistent growth, and applying a risk rate for discounting future dividends [8][9] - Using a blended growth and risk rate, the average valuation for WBC shares is calculated at $35.10, while an adjusted dividend payment leads to a valuation of $34.05 [10] Group 4: Adjusted Valuation - Considering fully franked dividends, the valuation based on a gross dividend payment of $2.30 results in a share price valuation of $48.64 [11] - Various growth and risk rate scenarios yield a range of valuations, with a 6% risk rate and 2% growth rate suggesting a valuation of $40.25 [12] Group 5: Additional Considerations - The analysis of bank shares like Westpac should also consider alternative investment options, such as low-cost dividend-paying ETFs [12] - Key questions for further analysis include the sustainability of net interest margins and the management of regulatory challenges in pursuit of non-interest income [13] - Company culture is an important factor in long-term investment decisions, with Westpac's culture not rated as perfect [13]

Core Viewpoint - Artea Bank has announced a new share buyback program, which aims to enhance share liquidity on the stock exchange and is set to run until the start of the next blackout period related to the end of the 2025 financial year [2]. Group 1: Share Buyback Program Details - The share buyback program will commence on December 1, 2025, and conclude on January 23, 2026, with a maximum acquisition of 3,369,750 shares [5]. - The bank has received permission from the ECB to repurchase up to 4,500,000 shares, valid for one year from September 23, 2025 [4]. - The maximum purchase price per share will not exceed the higher of the last independent trading price or the highest independent bid price for a specific transaction on Nasdaq Vilnius [5]. Group 2: Compliance and Regulations - The buyback will be conducted in compliance with the safe harbour requirements set out in Regulation (EU) No 596/2014 and related regulations [3]. - The bank will limit its daily share repurchases to no more than 25% of the average daily trading volume calculated over the month preceding the announcement of the program [5]. Group 3: Communication and Reporting - Artea Bank will publish information on completed transactions from the previous calendar week on the first working day of each calendar week [2].

Core Viewpoint - The Commonwealth Bank of Australia (CBA) share price is under scrutiny as investors attempt to establish a valuation for the company amidst fluctuating market conditions [1][2]. Valuation Methods - The Price-to-Earnings (PE) ratio is a common method for valuing bank shares, comparing the share price to earnings per share [3][4]. - CBA's current share price is $153.36, with earnings per share of $5.63, resulting in a PE ratio of 27.2x, which is significantly higher than the banking sector average of 18x [5]. - A sector-adjusted PE valuation for CBA, based on the average PE ratio, yields a valuation of $102.32 per share [5]. Dividend Discount Model (DDM) - The Dividend Discount Model (DDM) is a more comprehensive approach for valuing banks, relying on recent or forecasted dividends and a risk rate [6][7]. - The formula used for DDM valuation is Share price = full-year dividend / (risk rate – dividend growth rate) [8]. - Using a blended growth rate and risk rate between 6% and 11%, the DDM valuation for CBA shares ranges from $98.33 to $100.66, depending on the dividend payment considered [10]. Adjusted Valuation - Considering fully franked dividends, the valuation based on a gross dividend payment of $6.80 results in a share price valuation of $143.80 [11]. - Different growth and risk rate scenarios yield a range of valuations, with a 2% growth rate and a 6% risk rate suggesting a valuation of $119.00 [12]. Additional Considerations - Investors should assess net interest margins and regulatory impacts on non-interest income as part of their analysis [13]. - The management team's effectiveness and company culture are also critical factors in long-term investment decisions [13].

Core Viewpoint - The company is executing a share buyback program with a total budget of up to DKK 1,000 million, aiming to repurchase a maximum of 1,600,000 shares from June 2, 2025, to January 30, 2026 [1][2]. Summary by Sections Share Buyback Program Details - The share buyback program is compliant with EU regulations, specifically EU Commission Regulation No. 596/2014 and EU Commission Delegated Regulation No. 2016/1052, which provide a "Safe Harbour" for such transactions [2]. - As of the latest announcement, a total of 520,177 shares have been repurchased at an average price of DKK 1,426.10, amounting to DKK 741,826,525 [2]. - The total number of shares repurchased under the program since its inception is 934,377, representing 3.68% of the bank's share capital [2]. Transaction Breakdown - The transactions conducted from November 10 to November 14, 2025, include: - November 10: 5,000 shares at DKK 1,440.03 - November 11: 4,500 shares at DKK 1,447.09 - November 12: 4,000 shares at DKK 1,450.52 - November 13: 4,500 shares at DKK 1,444.81 - November 14: 5,500 shares at DKK 1,424.60 [2]. - The average purchase price for the total shares bought back is DKK 1,329.03 [2]. Ownership and Capital Impact - Following the buyback transactions, the company now holds 934,377 shares, which corresponds to 3.68% of its total share capital [2].