Monday, April 25, 2011

Medium Banks

Planner recomenda distância de bancos médios

Papel P/L P/VP ROE Patrim. Líq
BBAS3 7,06 1,64 23,29% 50.495.700.000,00
BICB4 8,17 1,46 17,82% 1.954.650.000,00
SFSA4 8,24 0,81 9,86% 770.870.000,00
ABCB4 9,09 1,36 15,00% 1.347.920.000,00
PRBC4 9,2 1,31 14,19% 827.660.000,00
DAYC4 9,61 1,49 15,56% 1.780.040.000,00
PINE4 9,9 1,33 13,43% 867.132.000,00
BBDC3 10,08 2,1 20,86% 48.042.800.000,00
BRSR6 11,12 2,14 19,23% 3.855.240.000,00
IDVL3 11,14 0,76 6,80% 426.425.000,00
ITSA3 12,27 2,06 16,79% 26.302.000.000,00
ITSA4 12,37 2,08 16,79% 26.302.000.000,00
IDVL4 12,79 0,87 6,80% 426.425.000,00
CZRS4 13,53 1,82 13,45% 1.126.580.000,00
ITUB3 14,13 11,91 84,30% 12.185.000.000,00
SANB11 17,9 6,56 36,63% 10.529.600.000,00

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5 comments:

sid said...

I think that today there is no discount in medium banks, and to buy these stocks, we need a reasonably discount (remember 2008 crash to see what could happen). By the way, the only bank I have now is BBAS.

cessna said...

I'm studying BICB4.

This is more usefull than the releases: http://www5.bicbanco.com.br/port/download/ratings/LF_Rating_120411.pdf

cessna said...

I would buy BICB4 for 8,90.

Here's why:

1) BICB4 paid 0,54 / share relative to its 2010 results.

2) I assume the dividends will grow 6% a year for the next 10 years

3) I assume the dividends will grow 3% a year from Y11 on

4) I use a discount rate of 7%

5) the result is a value per share of 17,79

6) I demand a 50% discount (I'm so thrifty!)

7) my buying price is ....17,79/2 = 8,90

sid said...

I have a target price of 9.40.
I strive every day not to forget about what happenned in 2008 crisis, especially with medium banks, that are far more sensitive to credit restrictions.
But current prices could be a threshold to start a buying.

cessna said...

Valor: Cruzeiro do Sul paga dividendo sobre lucro contestado pela KPMG

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