Analysts Advise Caution on Bankinter SA with “Reduce” Rating
Shares of Bankinter SA (OTCMKTS:BKNIY) have received a consensus recommendation of “Reduce” from six analysts currently monitoring the stock, according to MarketBeat Ratings. This rating is comprised of one sell recommendation and five hold recommendations.
In recent evaluations, several firms have made adjustments to their ratings. On October 21, 2023, Barclays upgraded Bankinter from a “strong sell” to a “hold” rating. Conversely, Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating on September 23, 2023. Additionally, the Goldman Sachs Group reduced Bankinter’s rating from “hold” to “sell” on October 26, 2023, while Deutsche Bank Aktiengesellschaft also lowered its rating from “buy” to “hold” on August 8, 2023.
Recent Earnings and Dividend Announcement
Bankinter’s latest earnings report, released on October 23, 2023, indicated an earnings per share (EPS) of $0.35, surpassing the consensus estimate of $0.34 by $0.01. The bank achieved a return on equity of 16.76% and a net margin of 21.53%. The reported revenue for the quarter was $879.05 million, falling short of the projected $887.38 million.
In a further development, Bankinter has announced a dividend of $0.231 per share, set to be distributed on December 12, 2023. Shareholders on record as of December 2, 2023 will qualify for this dividend, which reflects a significant yield of 279.0%. The ex-dividend date is scheduled for December 1, 2023, and the bank’s current dividend payout ratio stands at 37.30%.
Overview of Bankinter
Based in Spain, Bankinter SA offers a wide range of banking products and services tailored for individuals, corporate clients, and small- to medium-sized enterprises. The firm’s offerings include various account types, mortgages, loans, and financing services.
As analysts continue to reassess Bankinter’s market position, investors may want to monitor these developments closely, especially given the mixed ratings and recent earnings performance. The financial landscape remains dynamic, and strategic decisions will be vital for navigating future challenges.
