MORROW BANK ASA(MOBA)
(MOBA)
Kvartalsrapport (Q4)
44 dager siden‧40min
0,00 NOK/aksje
Ordredybde
Stengt
Antall
Kjøp
18 000
Selg
Antall
2 849
Siste handler
Tid | Pris | Antall | Kjøpere | Selger |
---|---|---|---|---|
- | - | - | - |
Omsetning (NOK)
144 454Meglerstatistikk
Fant ingen data
Selskapshendelser
Kommende | |
---|---|
2023 Generalforsamling | 18. apr. |
Historisk | ||
---|---|---|
2023 Kvartalsrapport (Q4) | 14. feb. | |
2023 Kvartalsrapport (Q3) | 25. okt. 2023 | |
2023 Kvartalsrapport (Q2) | 10. aug. 2023 | |
2023 Kvartalsrapport (Q1) | 12. mai 2023 | |
2022 Generalforsamling | 13. apr. 2023 |
Data hentes fra Millistream, Quartr
Nyheter og Analyser
Nyheter og/eller generelle investeringsanbefalinger, eller utdrag av disse på denne siden og øvrige lenker, er produsert og levert av den spesifiserte leverandøren. Nordnet har ikke deltatt i utarbeidelsen, og har ikke gjennomgått eller gjort endringer i materialet. Les mer om investeringsanbefalinger.
Kvartalsrapport (Q4)
44 dager siden‧40min
Nyheter og Analyser
Nyheter og/eller generelle investeringsanbefalinger, eller utdrag av disse på denne siden og øvrige lenker, er produsert og levert av den spesifiserte leverandøren. Nordnet har ikke deltatt i utarbeidelsen, og har ikke gjennomgått eller gjort endringer i materialet. Les mer om investeringsanbefalinger.
Selskapshendelser
Kommende | |
---|---|
2023 Generalforsamling | 18. apr. |
Historisk | ||
---|---|---|
2023 Kvartalsrapport (Q4) | 14. feb. | |
2023 Kvartalsrapport (Q3) | 25. okt. 2023 | |
2023 Kvartalsrapport (Q2) | 10. aug. 2023 | |
2023 Kvartalsrapport (Q1) | 12. mai 2023 | |
2022 Generalforsamling | 13. apr. 2023 |
Data hentes fra Millistream, Quartr
Shareville
Bli med i samtalen på SharevilleEt fellesskap av investorer som deler innsikt og kunnskap i sine porteføljer.
Logg inn
- for 1 døgn sidenfor 1 døgn siden
- 15. mars15. marsSer ikke for meg noen Bear-argument..
- 16. feb.16. feb.Innlegget er slettet.
- 15. feb.15. feb.Costs under control, estimates up Q4'23 above our expectations, in line with consensus Raise estimates on higher NII, stable opex; LLP muted Huge upside if MOBA can manage its new and higher expectations Q4: better income and costs Adj. profit before loan losses of NOK 194.6m was +12% and +6% vs. ABGSCe and FactSet consensus, respectively, and was driven by stronger net interest income (NII) on 46bp better net interest margin (NIM) and 1.7% higher lending growth. Costs were 7% ahead of ABGSC but in line with consensus, which gave a cost/income-ratio (C/I) of ~29% (4pp better), mainly driven by much lower non-personnel costs than expected. Loan loss provisions (LLP) at 5.8% were higher (57bp and 46bp, respectively, vs ABGSCe and cons.) on macro uncertainty and growth, which in sum led to a beat of 12% vs. our forecast and a small miss (NOK 0.5m) vs. cons. Q-o-q loan growth was 3.9%, showing strength vs. previous quarters on strong growth in Finland and more caution with the refi product in Norway (declining balances). The bank targets ~10% in annual lending growth and guides for a lending balance of NOK 15bn by Q4'25e, NIM at ~9%, C/I of ~26% and LLP of ~4%, which in sum should lead to 10-12% ROE. Estimates up on higher lending growth We raise our adj. EPS for '24e-25e by 5% and 3% on higher NII (higher lending growth at a weaker NIM) as well as much better opex, with C/I at ~26%, ~24% and ~22% for '24-26e. We expect lending growth of 17%, 16% and 8% for '24e-'26e, and LLP of 4.9%, 4.6% and 4.5% for the same period. We forecast ROE of 8.6%, 10.2% and 11.3% for '24e-26e vs. the bank's target of 10-12% by Q4'25. Fair P/NAV of 0.8x vs. current level of 0.45x: BUY Our normalised RONAV of ~10% implies a fair P/NAV of 0.8x vs. the current level of 0.45x. The bank has shown significant improvements to its cost control and is now ready to take its fair share of the lending growth market. We reiterate BUY and lift our TP given the estimate changes to NOK 6.3 (6), representing ~60% upside and >100% to fair value of NOK 8 (see pg. 6). #abg
Kommentarene ovenfor kommer fra brukere på Nordnets sosiale nettverk Shareville og er verken redigert eller forhåndsvist av Nordnet. De innebærer ikke at Nordnet gir investeringsråd eller investeringsanbefalinger. Nordnet påtar seg ikke ansvar for kommentarene.
Kvartalsrapport (Q4)
44 dager siden‧40min
0,00 NOK/aksje
Nyheter og Analyser
Nyheter og/eller generelle investeringsanbefalinger, eller utdrag av disse på denne siden og øvrige lenker, er produsert og levert av den spesifiserte leverandøren. Nordnet har ikke deltatt i utarbeidelsen, og har ikke gjennomgått eller gjort endringer i materialet. Les mer om investeringsanbefalinger.
0,00 NOK/aksje
Shareville
Bli med i samtalen på SharevilleEt fellesskap av investorer som deler innsikt og kunnskap i sine porteføljer.
Logg inn
- for 1 døgn sidenfor 1 døgn siden
- 15. mars15. marsSer ikke for meg noen Bear-argument..
- 16. feb.16. feb.Innlegget er slettet.
- 15. feb.15. feb.Costs under control, estimates up Q4'23 above our expectations, in line with consensus Raise estimates on higher NII, stable opex; LLP muted Huge upside if MOBA can manage its new and higher expectations Q4: better income and costs Adj. profit before loan losses of NOK 194.6m was +12% and +6% vs. ABGSCe and FactSet consensus, respectively, and was driven by stronger net interest income (NII) on 46bp better net interest margin (NIM) and 1.7% higher lending growth. Costs were 7% ahead of ABGSC but in line with consensus, which gave a cost/income-ratio (C/I) of ~29% (4pp better), mainly driven by much lower non-personnel costs than expected. Loan loss provisions (LLP) at 5.8% were higher (57bp and 46bp, respectively, vs ABGSCe and cons.) on macro uncertainty and growth, which in sum led to a beat of 12% vs. our forecast and a small miss (NOK 0.5m) vs. cons. Q-o-q loan growth was 3.9%, showing strength vs. previous quarters on strong growth in Finland and more caution with the refi product in Norway (declining balances). The bank targets ~10% in annual lending growth and guides for a lending balance of NOK 15bn by Q4'25e, NIM at ~9%, C/I of ~26% and LLP of ~4%, which in sum should lead to 10-12% ROE. Estimates up on higher lending growth We raise our adj. EPS for '24e-25e by 5% and 3% on higher NII (higher lending growth at a weaker NIM) as well as much better opex, with C/I at ~26%, ~24% and ~22% for '24-26e. We expect lending growth of 17%, 16% and 8% for '24e-'26e, and LLP of 4.9%, 4.6% and 4.5% for the same period. We forecast ROE of 8.6%, 10.2% and 11.3% for '24e-26e vs. the bank's target of 10-12% by Q4'25. Fair P/NAV of 0.8x vs. current level of 0.45x: BUY Our normalised RONAV of ~10% implies a fair P/NAV of 0.8x vs. the current level of 0.45x. The bank has shown significant improvements to its cost control and is now ready to take its fair share of the lending growth market. We reiterate BUY and lift our TP given the estimate changes to NOK 6.3 (6), representing ~60% upside and >100% to fair value of NOK 8 (see pg. 6). #abg
Kommentarene ovenfor kommer fra brukere på Nordnets sosiale nettverk Shareville og er verken redigert eller forhåndsvist av Nordnet. De innebærer ikke at Nordnet gir investeringsråd eller investeringsanbefalinger. Nordnet påtar seg ikke ansvar for kommentarene.
Ordredybde
Stengt
Antall
Kjøp
18 000
Selg
Antall
2 849
Siste handler
Tid | Pris | Antall | Kjøpere | Selger |
---|---|---|---|---|
- | - | - | - |
Omsetning (NOK)
144 454Meglerstatistikk
Fant ingen data
Selskapshendelser
Kommende | |
---|---|
2023 Generalforsamling | 18. apr. |
Historisk | ||
---|---|---|
2023 Kvartalsrapport (Q4) | 14. feb. | |
2023 Kvartalsrapport (Q3) | 25. okt. 2023 | |
2023 Kvartalsrapport (Q2) | 10. aug. 2023 | |
2023 Kvartalsrapport (Q1) | 12. mai 2023 | |
2022 Generalforsamling | 13. apr. 2023 |
Data hentes fra Millistream, Quartr