Morningstar

Ping An Bank Co Ltd Class A 000001

Morningstar Rating
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Stock XSHE Rating as of
¥11.42 +0.27 (2.42%)
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As of Delayed Price Closed

Company Report

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PAB's Business Restructuring Is Progressing Well

Iris Tan

Ping An Bank, or PAB, has been transforming into a retail-focused bank. While we believe it has yet to earn a moat, we believe PAB is a high-quality bank among our Chinese bank coverage. We’re positive on its restructuring, thanks to its ability to leverage its parent’s huge customer base and integrated offline and online financial platform.

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Price vs Fair Value

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000001 is trading at a 159% premium.
Price
¥11.42
Fair Value
¥28.00
Uncertainty
High
1-Star Price
¥71.67
5-Star Price
¥3.70
Economic Moat
Nnnd
Capital Allocation
Nrjknqgf

Bulls Say, Bears Say

Bulls

The increase in the dividend payout ratio despite slowing growth indicates management's confidence about long-term growth and capital returns for shareholders.

Bears

PAB's net interest margin faces higher-than-peer pressure due to increasing competition for retail deposits and proactive efforts to derisk its loan book.

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Trading Information

Previous Close Price
¥11.15
Day Range
¥11.03–11.56
52-Week Range
¥8.96–11.74
Bid/Ask
¥11.42 / ¥11.43
Market Cap
¥221.62 Bil
Volume/Avg
384.0 Mil / 102.5 Mil

Key Statistics

Price/Earnings (Normalized)
6.92
Price/Sales
1.54
Dividend Yield (Trailing)
6.30%
Dividend Yield (Forward)
6.30%
Total Yield
6.30%

Company Profile

Ping An Bank has its headquarters in Shenzhen, China. The bank is a leading countrywide joint-stock commercial bank. Its parent, Ping An Group, the second-largest insurance company in China, owns about a 58% stake in Ping An Bank. The bank was formerly known as Shenzhen Development Bank and was merged with Ping An Bank in mid-2012. The bank offers a full range of commercial banking services, operating 91 branches and 1,058 outlets in China.
Sector
Financial Services
Industry
Banks - Regional
Stock Style Box
Large Value
Total Number of Employees
40,830
Website
http://www.bank.pingan.com

Competitors

Valuation

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Metric
000001
600036
601998
Price/Earnings (Normalized)
 6.926.396.17
Price/Book Value
 0.540.940.54
Price/Sales
 1.542.801.85
Price/Cash Flow
 3.099.942.92
Price/Earnings
000001
600036
601998

Financial Strength

Metric
000001
600036
601998
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 ———
Quick Ratio
No chart available

Profitability

Metric
000001
600036
601998
Return on Assets (Normalized)
 0.84%1.29%0.73%
Return on Equity (Normalized)
 11.76%15.67%10.80%
Return on Invested Capital (Normalized)
 ———
Return on Assets
000001
600036
601998

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