Latest news for Akbank (OTC:AKBTY) Stock

AKBANK TURK ANO ADR

Akbank TAS is a Turkish bank whose core business activities include consumer and private, commercial, small to midsize enterprise, and corporate and investment banking services. Other activities include foreign exchange, money markets, and securities transactions. In addition to traditional banking activities, the company provides insurance intermediary services. Approximately half of the bank's outstanding shares are owned by Sabanci Holding, a large Turkish financial conglomerate, and its affiliates. Net interest income contributes to the vast majority of net revenue, followed by net fees and commissions. The banks gives credit exposure to the services industry.

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AKBANK T/A/S S/ADR by Akbank Turk Anonim Sirketi

Akbank TAS

The banking industry displayed admirable resilience and stability in 2023. Amid the banks' efforts to streamline their structures, honing in on core operations – there are projections of higher costs in the short term, inflicting some degree of impact on immediate bottom-line growth. Given this backdrop, quality foreign bank stocks Akbank T.A.S. (AKBTY), KB Financial Group (KB), and Erste Group Bank AG (EBKDY), primed for untapped growth in 2024, could be solid buys now. Read on… 2023 presented a challenging landscape for banking institutions as they grappled with operational and macroeconomic hurdles. However, banks skillfully navigated these obstacles. Aided by rising interest rates, banks managed to boost their top-line growth.
Furthermore, the anticipated continuation of this high-interest environment poses a profitable future, with the prospect of increasing net interest income and margins. Given this backdrop, foreign banks Akbank T.A.S. (<a href="https://stocknews.com/stock/AKBTY/">AKBTY</a>), KB Financial Group Inc. (<a href="https://stocknews.com/stock/KB/">KB</a>), and Erste Group Bank AG (<a href="https://stocknews.com/stock/EBKDY/">EBKDY</a>) could be solid buys for 2024.
Foreign banks offer various services and products to American customers, catering to both individual and corporate clients who run operations in the U.S. Central banks worldwide have implemented measures to buffer their economies from the 2020 pandemic-induced financial downturn, including reducing benchmark interest rates to historic lows. Although beneficial for immediate economic recovery, these measures have significantly eaten into bank profitability.
The journey to economic recovery presents its challenges, with progress inconsistent in developed nations housing major foreign banks and emerging nations. This inconsistency has caused global disruption in banking operations.
As many foreign banks may possess federal and state-chartered offices within the U.S., the Federal Reserve holds significant influence over their domestic operations. The decision by the Fed to increase the benchmark interest rate signifies an encouraging shift for the banking sector; higher interest rates prompt a rise in banks' <a href="https://finance.yahoo.com/personal-finance/what-the-fed-rate-hike-means-for-bank-accounts-cds-loans-and-credit-cards-164159723.html">net interest income</a>.
Although these higher rates typically favor banks, they can also limit loan growth by inflating borrowing and deposit costs. That said, anticipated reductions could stimulate demand for goods and services, thereby catalyzing an increase in bank lending.
Moreover, several foreign banks are pursuing extensive business restructuring efforts, divesting or closing non-critical operations to concentrate more on their core businesses and regions. Although these restructuring measures are expected to spur long-term growth, they have led to a short-term rise in expenses. Technology-related costs are predicted to continue posing some degree of hindrance to banks' bottom-line growth in the near term.
In light of these trends, let's look at the fundamentals of the three fundamentally strong <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> stocks, beginning with number 3.
Stock #3: Akbank T.A.S. (<a href="https://stocknews.com/stock/AKBTY/">AKBTY</a>)
Headquartered in Istanbul, Turkey, AKBTY provides various banking products and services in Turkey and internationally. It operates through: Retail Banking; Commercial Banking, SME Banking, Corporate-Investment and Private Banking; and Wealth Management Treasury segments.
Its annualized dividend rate of $0.18 per share translates to a dividend yield of 7.35% on the current share price. Its four-year average yield is 3.13%. Its dividend payments grew at a CAGR of 7.8% over the past five years.
AKBTY's trailing-12-month net income margin of 52.92% is 109.9% higher than the 25.21% industry average. Likewise, its trailing-12-month ROCE and ROTA of 46.34% and 4.27% are 297% and 269.1% higher than the industry averages of 11.67% and 1.16%, respectively.
AKBTY's trailing-12-month GAAP PEG of 0.03x is 91.6% lower than the 0.40x industry average. Its forward Price/Sales of 1.28x is 52.9% lower than the 2.71x industry average.
The company's <a href="https://www.investopedia.com/terms/n/net-interest-income.asp">net interest income</a> for the fiscal third quarter that ended September 2023, increased 117.4% sequentially to TL24.73 billion ($830.50 million). For the nine months that ended September 2023, its revenue increased 39.1% to TL72.70 billion ($2.44 billion). Moreover, its net income increased 34.7% year-over-year to TL51.47 billion ($1.73 billion).
AKBTY's total assets for the nine months that ended September 30, 2023, increased 50% year-over-year to TL1.72 trillion ($57.65 billion).
Street expects AKBTY's revenue for the fiscal year 2023 (ended December 2023) to come to $5.01 billion. Its revenue for the fiscal year ending December 2024 is expected to increase 10% year-over-year to $5.51 billion. The company surpassed consensus revenue estimates in each of the trailing four quarters, which is impressive.
The stock has gained 54.4% over the past six months to close the last trading session at $2.44. Over the past nine months, it has gained 41.9%.
AKBTY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its positive prospects. The stock has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
The stock has a B grade for Value, Momentum, Stability, and Sentiment. Within the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry, it is ranked #7 out of 89 stocks.
Beyond what we've stated above, we have also rated the stock for Growth and Quality. Get all ratings of AKBTY <a href="https://stocknews.com/stock/AKBTY/">here</a>.
Stock #2: KB Financial Group Inc. (<a href="https://stocknews.com/stock/KB/">KB</a>)
Headquartered in Seoul, South Korea, KB provides a range of banking and related financial services to consumers and corporations worldwide. The company operates through seven segments: Retail Banking, Corporate Banking, Other Banking, Credit Card, Securities, Life Insurance, and Non-Life Insurance. It offers loans, deposit products, and other related financial products and services, investment banking, brokerage, etc.
On October 24, 2023, KB's board of directors declared a quarterly dividend of KRW 510 per common share (total dividend amount: KRW 194,997,652,890). Its annualized dividend rate of $2.26 per share translates to a dividend yield of 5.62% on the current share price. Its four-year average yield is 5.52%. Its dividend payments grew at CAGRs of 8.2% and 4.7% over the past three and five years, respectively.
KB's trailing-12-month net income margin of 32.94% is 30.7% higher than the 25.21% industry average. Likewise, its trailing-12-month cash from operations of $13.81 billion is significantly higher than the industry average of $140.56 million.
KB's forward non-GAAP P/E of 4.21x is 60.5% lower than the 10.68x industry average. Its 1.24x forward Price/Sales is 54.4% lower than the 2.71x industry average.
KB's net interest income for nine months ended September 30, 2023, increased 5.3% year-over-year to KRW8.85 trillion ($6.75 billion). Its net operating profit increased 20% year-over-year to KRW6.13 trillion ($4.68 billion). The company's profit for the period increased 7.4% year-over-year KRW4.35 trillion ($3.32 billion).
Analysts expect KB's revenue and EPS for the fiscal year 2023 (ended December 2023), to increase 10.5% and 16.9% year-over-year to $12.59 billion and $9.66, respectively. The company surpassed consensus revenue estimates in three of the trailing four quarters.
Over the past six months, the stock has gained 7.3% to close the last trading session at $40.18. It has gained 10.8% over the past nine months.
KB's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has an A grade for Stability and a B for Value and Momentum. It is ranked #3 within the same industry.
<a href="https://stocknews.com/stock/KB/">Click here</a> to see KB's additional ratings for Growth, Sentiment, and Quality.
Stock #1: Erste Group Bank AG (<a href="https://stocknews.com/stock/EBKDY/">EBKDY</a>)
Headquartered in Vienna, Austria, EBKDY provides a range of banking and other financial services to retail, corporate, and public sector customers. The company operates through Retail, Corporates, Group Markets, Asset/Liability Management &amp; Local Corporate Center, Savings Banks, and Group Corporate Center segments. It provides mortgage and consumer loans, investment products, current accounts, and savings products.
EBKDY plans for a dividend of €2.7 per share for the 2023 fiscal year. Its annualized dividend rate translates to a dividend yield of 5.15% on the current share price. Its four-year average yield is 4.25%. Its dividend payments grew at a CAGR of 8% over the past five years.
The share buy-back in a volume of up to €300 million is progressing well. The share buyback program started on August 16, 2023, and by the reporting date of September 30, 2023, 4,050,690 treasury shares with acquisition costs of €133 million had been repurchased.
EBKDY's trailing-12-month net income margin of 28.63% is 13.6% higher than the 25.21% industry average. Likewise, its trailing-12-month cash per share of $12.24 is 79.2% higher than the industry average of $6.83.
EBKDY's forward GAAP P/E of 5.38x is 51.7% lower than the 11.14x industry average. Its 1.42x forward Price/Sales is 47.8% lower than the 2.71x industry average.
EBKDY's net interest income for the fiscal third quarter that ended September 30, 2023, increased 20.2% year-over-year to €1.86 billion ($2.03 billion). Its net result attributable to owners of the parent increased 60.7% year-over-year to €819.70 million ($896.11 million).
The company's operating result rose 44.8% year-over-year to €1.49 billion ($1.63 billion). Its CET1 ratio came in at 14.5%, compared to 13.8% in the year-ago quarter.
Analysts expect EBKDY's revenue and EPS for the fiscal year 2023 (ended December 2023), to increase 26.5% and 43.4% year-over-year to $11.47 billion and $3.76, respectively.
Over the past year, the stock has gained 22.6% to close the last trading session at $19.88. It has gained 19.5% over the past nine months.
EBKDY's robust prospects are reflected in its POWR Ratings. It has an overall rating of B, which translates to Buy in our proprietary rating system.
It has a B grade for Growth, Value, Momentum, Stability, and Sentiment. It is ranked first within the same industry.
To see the other ratings of EBKDY (Quality), <a href="https://stocknews.com/stock/EBKDY/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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EBKDY shares were unchanged in premarket trading Thursday. Year-to-date, EBKDY has declined -2.74%, versus a -1.37% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Sristi Suman Jayaswal</h2> <img src='https:/wp-content/uploads/2022/11/Sristi-Suman-Jayaswal_Headshot3.jpg' style="float:left; padding:5px;width:125px;">The stock market dynamics sparked Sristi's interest during her school days, which led her to become a financial journalist. Investing in undervalued stocks with solid long-term growth prospects is her preferred strategy.

Having earned a master's degree in Accounting and Finance, Sristi hopes to deepen her investment research experience and better guide investors.<a href="https://stocknews.com/authors/?author=sristi-sumanjayaswal">More...</a>The post <a href=https://stocknews.com/news/ebkdy-kb-akbty-3-foreign-bank-stocks-primed-for-untapped-growth-in-2024/>3 Foreign Bank Stocks Primed for Untapped Growth in 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Foreign Bank Stocks Primed for Untapped Growth in 2024

Prolonged exposure to high-interest rates, risk of defaults on commercial real estate loans, elevated deposit costs, diminished credit demand, and stringent lending standards are expected to pile more pressure on U.S. banks. Considering these factors, should investors consider investing in foreign bank stocks Banco Santander (SAN), Akbank (AKBTY), and First Citizens BancShares? Read on… Fears of the U.S. regional banking sector facing a rerun of last year's turmoil have surfaced after Moody's downgraded New York Community Bancorp, Inc. (<a href="https://stocknews.com/stock/NYCB/">NYCB</a>) credit rating to junk. Moreover, the Federal Reserve looks unlikely to start cutting rates from March, as policymakers signaled no rush to cut interest rates. This means interest rates will likely remain higher for a longer time.
Given this backdrop, it could be prudent to look beyond borders and invest in fundamentally strong foreign banking stocks Banco Santander, S.A. (<a href="https://stocknews.com/stock/SAN/">SAN</a>) and Akbank T.A.S. (<a href="https://stocknews.com/stock/AKBTY/">AKBTY</a>). However, not all foreign bank stocks are well-positioned to deliver market-beating returns. First Citizens BancShares, Inc.'s (<a href="https://stocknews.com/stock/FCNCA/">FCNCA</a>) weak fundamentals and growth prospects make it best avoided now.
Before diving deeper into the fundamentals of these stocks, let's discuss what's happening in the industry.
Following the global financial crisis of 2008, the U.S. banking industry faced its biggest challenge last year after the collapse of three regional banks. The industry continued to face challenges throughout the year due to credit rating downgrades, higher deposit costs, stringent lending standards, and large deposit outflows.
The regional bank industry now faces a fresh challenge after NYCB's credit rating was <a href="https://www.reuters.com/business/finance/moodys-cuts-nycb-ratings-junk-warns-more-downgrades-2024-02-07/">downgraded to junk by Moody's</a>. The downgrade follows the bank's bigger-than-expected provisions for potential bad loans arising out of its exposure to commercial real estate (CRE) loans.
Moody's said that NYCB's core historical CRE lending and significant unanticipated loss on its New York office and multifamily property could create potential confidence sensitivity. This has left investors fearful of the U.S. banking industry's stability as many regional banks hold a significant chunk of these vulnerable commercial real estate loans.
Last week, the Federal Reserve held the policy rate steady within <a href="https://www.usatoday.com/story/money/2024/01/31/january-federal-reserve-meeting-live-updates/72409059007/">the 5.25% and 5.5% range</a>. The benchmark interest rates have been in the same range since last July. Although there were indications by the central bank of three rate cuts this year, beginning in March, Fed policymakers have signaled that there is no rush to ease policy anytime soon given the strength of the labor market and the economy.
Therefore, with interest rates expected to persist at elevated levels for an extended period, it could pose challenges for U.S. banks. Consequently, considering the positive industry trends abroad, it might be prudent to explore investment opportunities in quality foreign bank stocks.
Let's now analyze the fundamentals of the three foreign bank stocks mentioned above:
Stocks to Buy:
Banco Santander, S.A. (<a href="https://stocknews.com/stock/SAN/">SAN</a>)
Headquartered in Madrid, Spain, SAN provides various retail and commercial banking products and services to individuals, small and medium-sized enterprises, and large companies worldwide. The company operates through Retail Banking, Santander Corporate &amp; Investment Banking, Wealth Management &amp; Insurance, and PagoNxt segments. It offers time and demand deposits, current and savings accounts, mortgages, corporate loans, etc.
On December 20, 2023, SAN announced the closing of the transaction with the FDIC to participate in a joint venture consisting of a $9 billion portfolio of New York-based multifamily real estate assets retained by the FDIC following Signature Bank's failure. SAN acquired a 20% equity stake in the joint venture and will service 100% of the assets in the portfolio.
SAN's executive chair, Ana Botin, said, "This transaction underscores our strength and scale, leveraging our considerable expertise in the sector. We are a major participant in the U.S. multifamily space, and this transaction plays to our strengths."
In terms of forward Price/Book, SAN's 0.56x is 44.4% lower than the 1.01x industry average. Its 0.41x forward non-GAAP <a href="https://www.investopedia.com/terms/p/pegratio.asp">PEG</a> is 69.7% lower than the 1.36x industry average. Likewise, its 4.68x trailing-12-month non-GAAP P/E is 54.8% lower than the 10.36x industry average.
For the fiscal year that ended December 31, 2023, SAN's net interest income rose 12% over the prior-year period to €43.26 billion ($46.57 billion). Its profit attributable to the parent increased 15.3% year-over-year to €11.08 billion ($11.93 billion). The company's ROA stood at 0.69%, compared to 0.63% in the previous year. Its EPS came in at €0.65, representing an increase of 20.4% over the prior-year period.
Also, its CET1 ratio stood at 12.3%, compared to 12% in the year-ago quarter.
Street expects SAN's revenue for the quarter ending March 31, 2024, to increase 7% year-over-year to $16.34 billion. Its EPS for the quarter ending June 30, 2024, is expected to increase 26.5% year-over-year to $0.22. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past nine months, the stock has gained 15.1% to close the last trading session at $3.97.
SAN's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect solid prospects. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has an A grade for Momentum and a B for Value, Stability, and Sentiment. It is ranked first out of 89 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry. To access the ratings of SAN for Growth and Quality, <a href="https://stocknews.com/stock/SAN/">click here</a>.
Akbank T.A.S. (<a href="https://stocknews.com/stock/AKBTY/">AKBTY</a>)
Headquartered in Istanbul, Turkey, AKBTY provides various banking products and services in Turkey and internationally. It operates through Retail Banking, Commercial Banking, SME Banking, Corporate-Investment and Private Banking, and Wealth Management Treasury segments.
AKBTY's 0.29x trailing-12-month GAAP PEG is 18.3% lower than the 0.35x industry average. Its forward Price/Sales of 1.46x is 40.4% lower than the 2.44x industry average.
AKBTY's net interest income for the fiscal year ended December 31, 2023, came in at TL68.87 billion ($2.25 billion). Its revenue increased 37% year-over-year to TL141.54 billion ($4.62 billion). The company's other income rose 27% year-over-year to TL1.66 billion ($54.25 million). Also, its net income increased 11% year-over-year to TL66.50 billion ($2.17 billion).
Street expects AKBTY's revenue for the fiscal 2025 to increase 51.5% year-over-year to $7.26 billion. Over the past year, the stock has gained 82% to close the last trading session at $2.75.
ABKDY's POWR Ratings reflect this positive outlook. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Momentum and a B for Value and Stability. Within the same industry, it is ranked #12. Beyond what we've stated above, we have also rated the stock for Growth, Sentiment, and Quality. Get all ratings of AKBTY <a href="https://stocknews.com/stock/AKBTY/">here</a>.
Stock to Sell:
First Citizens BancShares, Inc. (<a href="https://stocknews.com/stock/FCNCA/">FCNCA</a>)
FCNCA operates as the holding company for First-Citizens Bank &amp; Trust Company, which provides retail and commercial banking services to individuals, businesses, and professionals. The company offers deposit products, loan products, wealth management services, and investment management and advisory services.
In terms of forward Price/Sales, FCNCA's 2.55x is 4.5% higher than the 2.44x industry average. Its 1.07x forward Price/Book is 5.2% higher than the 1.01x industry average.
FCNCA's adjusted net income available to common stockholders for the fourth quarter ended December 31, 2023, declined 16.6% sequentially to $678 million. Its adjusted provision for credit losses increased 27.7% sequentially to $249 million. The company's net interest income decreased 4% sequentially to $1.91 billion.
Also, its adjusted ROE came in at 13.53%, compared to 16.77% in the previous quarter. In addition, its adjusted EPS came in at $46.58, representing a decline of 16.7% sequentially.
Analysts expect FCNCA's EPS and revenue for the quarter ending June 30, 2024, to decline 17.7% and 6.2% year-over-year to $43.30 and $2.27 billion, respectively. Over the past six months, the stock has declined 1.9% to close the last trading session at $1,484.03.
FCNCA's POWR Ratings reflect this bleak outlook. The stock has an overall rating of D, equating to a Sell in our proprietary rating system.
It is ranked #22 out of 36 stocks in the F-rated <a href="https://stocknews.com/category/mid-atlantic-regional-banks/">Mid-Atlantic Regional Banks</a> industry. It has a D grade for Quality. <a href="https://stocknews.com/stock/FCNCA/">Click here</a> to see the additional ratings of FCNCA for Growth, Value, Momentum, Stability, and Sentiment.
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SAN shares fell $0.05 (-1.26%) in premarket trading Thursday. Year-to-date, SAN has declined -5.56%, versus a 4.75% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Dipanjan Banchur</h2> <img src='https:/wp-content/uploads/2021/11/Dipanjan-Banchur_headshots_3.jpg' style="float:left; padding:5px;width:125px;">Since he was in grade school, Dipanjan was interested in the stock market. This led to him obtaining a master's degree in Finance and Accounting. Currently, as an investment analyst and financial journalist, Dipanjan has a strong interest in reading and analyzing emerging trends in financial markets.<a href="https://stocknews.com/authors/?author=dipanjan-banchur">More...</a>The post <a href=https://stocknews.com/news/san-fcnca-akbty-nycb-buy-or-sell-these-3-bank-stocks/>Buy or Sell These 3 Bank Stocks?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Buy or Sell These 3 Bank Stocks?

Akbank T.A.S. goes ex dividend tomorrow

With elevated inflation, the Federal Reserve will likely delay the forecasted rate cuts. Interest rates remaining higher for longer could lead to several challenges for the U.S. banking industry. Given this backdrop, investors could consider looking beyond borders to buy quality foreign bank stocks: Barclays (BCS), Akbank (AKBTY), and Deutsche Bank (DB). Read on... The U.S. banking sector had benefited from high interest rates but it now faces challenges such as sluggish loan growth, potential defaults on commercial real estate loans, higher funding costs, and increasing credit card debt, etc. These factors brighten the prospects of investing in foreign banking stocks.
Amid this backdrop, investors could consider buying fundamentally strong bank stocks such as Barclays PLC (<a href="https://stocknews.com/stock/BCS/">BCS</a>), Akbank T.A.S. (<a href="https://stocknews.com/stock/AKBTY/">AKBTY</a>), and Deutsche Bank Aktiengesellschaft (<a href="https://stocknews.com/stock/DB/">DB</a>). Before exploring the fundamentals of these stocks, let's first understand what's shaping the banking industry's prospects.
The Federal Reserve's interest rate hikes since March 2022 have affected the U.S. banking sector. Higher interest rates led to the collapse of three regional banks last year, but they have also boosted banks' net interest incomes.
However, U.S. banks now face the challenges of rising credit card debt, higher deposit costs, sluggish loan growth, funding cost pressures, stringent lending standards, slowing economic growth, and increased net interest expenses.
The benchmark interest rates, currently between <a href="https://www.cnbc.com/2024/05/01/fed-rate-decision-may-2024-.html">5.25%-5.50%</a>, the highest in over two decades, have remained at this level due to sticky inflation and low unemployment levels. With inflation still far from its 2% target, many investors are concerned that the interest rate cuts might not happen this year.
Interest rates remaining higher for longer could increase funding costs and squeeze profit margins. Therefore, given the current positive industry trends abroad, exploring investment opportunities in quality foreign banking stocks could be wise.
Considering these conducive trends, let's examine the fundamentals of the three <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> stock picks, starting with the third in line.
Stock #3: Barclays PLC (<a href="https://stocknews.com/stock/BCS/">BCS</a>)
Headquartered in London, the United Kingdom, BCS provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through two segments: Barclays UK and Barclays International divisions.
On April 2, 2024, BCS and AGL Credit Management LP announced an exclusive Cooperation Agreement and launched a new private credit investment platform, AGL Private Credit. This platform provides BCS clients with benefits like certainty, speed, and long-term investment alignment.
In terms of forward Price/Sales, BCS is trading at 1.24x, 51.2% lower than the industry average of 2.53x. The stock's forward non-GAAP <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">P/E</a> of 7.24x is 31.4% lower than the industry average of 10.55x.
BCS' total income for the fiscal first quarter that ended March 31, 2024, stood at £6.95 billion ($8.84 billion). Moreover, its profit attributable to shareholders of the parent amounted to £1.55 billion ($1.97 billion). Also, its earnings per ordinary share came in at 10.30p.
As of March 31, 2024, BCS' total assets amounted to £1.58 trillion ($2.01 trillion), compared to £1.48 trillion ($1.88 trillion) as of December 31, 2023.
Analysts expect BCS' revenue for the quarter ending September 30, 2024, to increase 5.4% year-over-year to $8.02 billion. Its EPS for fiscal 2025 is expected to rise 26.4% year-over-year to $1.90. Over the past six months, the stock has gained 54.3%, closing the last trading session at $10.91.
BCS' strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has a B grade for Value and Sentiment. It is ranked #12 out of 90 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry. <a href="https://stocknews.com/stock/BCS/">Click here</a> for the additional POWR Ratings of BCS (Growth, Momentum, Stability, and Quality).
Stock #2: Akbank T.A.S. (<a href="https://stocknews.com/stock/AKBTY/">AKBTY</a>)
Headquartered in Istanbul, Turkey, AKBTY provides various banking products and services in Turkey and internationally. It operates through Consumer Banking and Private Banking, Commercial Banking, Corporate Banking, SME Banking, Treasury, Other, and Unallovated segments.
In terms of forward Price/Sales, AKBTY is trading at 1.97x, 22.1% lower than the industry average of 2.53x. The stock's trailing-12-month Price/Cash Flow of 2.45x is 68.6% lower than the industry average of 7.81x.
For the fiscal first quarter that ended March 2024, AKBTY's revenue stood at TL19.75 billion ($612.78 million), up 5% over the prior-year quarter. Its other income rose 230.4% year-over-year to TL1.40 billion ($43.48 million). For the same quarter, its net income increased 23.1% from the year-ago quarter to TL13.19 billion ($409.19 million).
In addition, as of March 2024, AKBTY's total assets amounted to TL2.07 trillion ($64.32 billion), compared to TL1.26 trillion ($39.08 billion) as of March 2023.
Street expects AKBTY's revenue for the quarter ending December 31, 2024, to increase 18.8% year-over-year to $1.46 billion. The company surpassed consensus revenue estimates in each of the trailing four quarters. AKBTY's stock has gained 178.4% over the past year, closing the last trading session at $4.06.
AKBTY's POWR Ratings reflect its robust prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
AKBTY has a B grade for Value, Momentum, and Stability. Within the same industry, it is ranked #8. Get AKBTY's Growth, Sentiment, and Quality ratings<a href="https://stocknews.com/stock/AKBTY/"> here</a>.
Stock #1: Deutsche Bank Aktiengesellschaft (<a href="https://stocknews.com/stock/DB/">DB</a>)
Headquartered in Frankfurt am Main, Germany, DB is a stock corporation that provides corporate and investment banking and asset management products and services to private clients, corporate entities, and institutional clients worldwide. It operates through Corporate Bank, Investment Bank, Private Bank, and Asset Management segments.
In terms of forward Price/Sales, DB is trading at 1.04x, 59% lower than the industry average of 2.53x. The stock's forward Price/Book of 0.46x is 56.1% lower than the industry average of 1.05x.
DB's total net revenues for the fiscal first quarter that ended March 31, 2024, increased 1.3% year-over-year to €7.78 billion ($8.42 billion). The company's profit attributable to DB shareholders stood at €1.28 billion ($1.38 billion) and €0.69 per share, up 10.1% and 13.1% over the prior-year quarter, respectively.
For the quarter ending June 30, 2024, DB's revenue is expected to increase marginally year-over-year to $8.25 billion. Its EPS for fiscal 2025 is expected to increase 55% year-over-year to $2.44. The stock has gained 57.6% over the past year to close the last trading session at $16.70.
DB's POWR Ratings reflect this positive outlook. It has an overall rating of B, equating to Buy in our proprietary rating system.
DB has a B grade for Value. It is ranked #3 in the Foreign Banks industry. <a href="https://stocknews.com/stock/DB/">Click here</a> to see DB's ratings for Growth, Momentum, Stability, Sentiment, and Quality.
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BCS shares rose $0.11 (+1.01%) in premarket trading Friday. Year-to-date, BCS has gained 44.08%, versus a 11.35% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/bcs-db-akbty-3-top-bank-stocks-for-may-gains/>3 Top Bank Stocks for May Gains</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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Akbank

Turkey&#8217;s stock market dipped on Monday while government bond yields jumped, following a resounding defeat for President Recep Tayyip Erdoğan's&nbsp;ruling Justice and Development party (AKP) in this weekend&#8217;s local elections.



The main opposition Republican People&#8217;s party (CHP) scored wins in Turkey&#8217;s five biggest cities — Istanbul, capital Anakara, Izmir, Bursa and Antalya — leaving Erdoğan facing his biggest political setback since he came to power as prime minister in 2003.



Markets don&#8217;t tend to like change, unless change is desperately needed — and with inflation running close to 70%, investors appeared agree with the voters. Equity investors remained upbeat, while the lira currency gained. Bond yields jumped, however, pushing prices lower. 



<ul>
<li>The country&#8217;s main stock index, the BIST 100, initially dipped 0.5%, then turned 0.7% higher.</li>



<li>On the foreign exchange market the lira climbed 1.2% against the dollar.</li>



<li>Bond yields jumped, with the benchmark 10-year yield adding 152 basis points to 26.7%.</li>



<li>The iShares MSCI Turkey ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUR#NYSE">TUR</a>), the only exchange-traded fund (ETF) that offers exclusive exposure to Turkish shares, gained 2.1% in early trade.</li>
</ul>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/01103845/newplot-2024-04-01T153822.345.png" alt="" class="wp-image-271986" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/01103845/newplot-2024-04-01T153822.345.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/01103845/newplot-2024-04-01T153822.345-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>



Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/38005195/sticky-inflation-persists-feds-preferred-measure-climbs-analysts-sound-off">Sticky Inflation Persists: Fed&#8217;s Preferred Measure Climbs, Analysts Sound Off</a>



<h3 class="wp-block-heading">Istanbul And Ankara Defeats For Erdoğan</h3>



In Istanbul, Mayor Ekrem İmamoğlu, who first won the city from the AKP in 2019, held on for the CHP, winning by 10 percentage points.



&#8220;Istanbul has delivered its message,&#8221; İmamoğlu told supporters gathered in the main city square. &#8220;The era of one person's tutelage is over.&#8221;



In Ankara, the opposition&#8217;s win was even more emphatic, as Mayor Mansur Yavas held the city by securing more than 60% of the vote.



Analysts saw the defeat for Erdoğan as a major pushback by voters against the AKP&#8217;s economic record as the rate of inflation in Turkey nears 70%.



Erdoğan served as prime minister between 2003-2014 and, under his presidency since 2014, he presided over a 2017 constitutional referendum that dissolved the senior role of prime minister, leaving the president as the main source of power, following his defeat of an attempted military coup in July 2016.



However, the weekend&#8217;s local election results are the first time Erdoğan&#8217;s party, described generally has hardline right, although the AKP denies it is Islamist, has suffered a national defeat.



The AKP held on to many of its stronghold districts in the center and east of the country, but Erdoğan acknowledged it had not gone well. He stopped short of marking it down as a defeat, however, calling it &#8220;a turning point.&#8221;



Although his current presidential term, due to end in 2028, is set to be his last under constitutional law, some political analysts were expecting further constitutional reforms to allow him to run for a further term had the results at these local elections gone better.



<h3 class="wp-block-heading">U.S. Related Stocks</h3>



<ul>
<li>The iShares MSCI Turkey ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUR#NYSE">TUR</a>), which holds stocks in the country&#8217;s major listed companies — including some that have American Depository Receipts on over-the-counter exchanges in the U.S. — was up 2.1%.</li>



<li>Among the ETF&#8217;s biggest stocks, Koc Holdings AS (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KHOLY#OTC">KHOLY</a>), an industrial and financial conglomerate controlled by the Koc family, was up 1.7%.</li>



<li>Akbank Turk Anonim Sirketi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AKBTY#OTC">AKBTY</a>), Turkey&#8217;s largest financial services group gained 5.8%.</li>



<li>Ford Otomotiv Sanayi AS (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FOVSY#OTC">FOVSY</a>), a motor manufacturer that is jointly owned by Koc Holdings and Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), was unmoved.</li>



<li>Turk Hava Yollari AO (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TKHVY#OTC">TKHVY</a>), the domestic listed name for Turkish Airlines, was similarly flat in early trade.</li>
</ul>



Now Read: <a href="https://www.benzinga.com/news/24/03/38007141/israel-to-return-to-cease-fire-negotiations-but-strikes-on-gaza-and-syria-continue">Israel To Return To Cease-Fire Negotiations, But Strikes On Gaza And Syria Continue</a>



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