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大行評級|大摩:恒生銀行將於月底公佈中期業績 料進一步回購可成股價催化劑
格隆匯 07-22 10:25
摩根士丹利發表研究報吿指,恒生銀行將於月底公佈中期業績,憧憬該行可能在公佈進一步股份回購方案,預測其股價將上升6%,反之若沒有任何行動則股價可能下跌3%。大摩預期在第一個假設情境下,恒生假如可將CET1提升至約16.5%,即略高於2015年以後平均水平,估計將有約145億港元的剩餘資本,遵循該行早前表示“考慮所有將剩餘資本回饋股東”的方向,預測若恒生宣佈今年第四季額外回購20億港元股份,並分別明年及2026年回購70億港元股份,即未來3年內回購10%的股份,則將2027年每股盈利預測提升6%。大摩又預期在第二個假設情境下,若恒生宣佈加快派息,即2024至2026年股息回報率會由目前的7.8%上升至11.5%,不過考慮到特別股息屬臨時性質,加上恒生市賬率已達1.1倍,因此預期股價不會作太大反應。大摩維持恒生銀行目標價97.1港元,評級“與大市同步”。
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