《大行報告》摩通:東亞(00023.HK)擬場外悉數回購Elliott持股 降低派發較預期高特別息機會
東亞銀行(00023.HK)擬於場外悉數回購基金股東Elliott持有的2.46億股股份,佔總股本約8.43%。摩通發表報告,指儘管在備考基礎上對每股帳面值和股本回報率產生正面影響,但由於派特別息的上行驚喜較少,預計股價將作出負面反應。該行維持對東亞銀行「中性」評級,目標價14元。
該行表示,東亞銀行中國風險敞口較大,意味着資產質素不確定性較高,儘管其估值較低,美國加息帶來的淨息差收益較少。
摩通估計,回購和註銷Elliott持股將使每股帳面值、股本回報率和每股盈利分別增加6%、0.13個百分點和9.2%。另外,截至2021年第三季,備考普通股權一級資本比率比率將下降58個基點至16.5%。
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