研報掘金丨長江證券:南京銀行盈利增速穩定,予“買入”評級
長江證券研報指出,南京銀行ROE、分紅、盈利增速穩定,紅利價值被低估南京銀行邁入市佔率提升+付息率下行+費用率改善三大週期。預計中期維度內ROE及業績增速將保持上市銀行前列,分紅比例維持30%以上高水平。近期已經完成200億元可轉債轉股補充資本(7月18日摘牌),基於7月18日收盤價,對應2025年PB估值僅0.81x、攤薄後股息率4.5%,在A股上市銀行中領先,重點推薦,給予“買入”評級。
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