Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Research House: HWANGDBS
HwangDBS retained its "hold" stock rating on Public Bank with a raised target price of RM13.10.
The research firm raised its Public Bank's FY10-12F earnings estimates on positive outlook.
"We expect loan growth to remain strong in 2H10 given the strong loan approvals in 1H10," HwangDBS said.
Meanwhile, OSK said Public Bank's annualized first-half 2010 results were largely in line with consensus and full-year estimates.
"We are maintaining our target price of RM13.00, which implies a ROE of 26 per cent," the research firm said.
OSK has maintained its "buy" recommendation for the stock.
Meanwhile, "with another 25bps OPR hike in July, Public Bank would stand to benefit from higher NIM assuming minimal competition for deposits".
"Our target dividend payout is revised to 50-51 per cent (from 55 per cent) over FY10-12F, with gross DPS of 60sen, 68sen and 78sen," said HwangDBS.
Meanwhile, Affin has made an "add" call on Public Bank with a higher target price of RM12.70 from RM12.50 previously.
"We have adjusted our earnings forecast for FY10-12 by 0.4-0.8 per cent subsequent to the OPR hike in July 2010 and have reduced our dividend assumption for FY10-12from 45-55 sen net to 41.3-45 sen," said Affin.
Company Name: PUBLIC BANK BHD
Research House: HWANGDBS
HwangDBS retained its "hold" stock rating on Public Bank with a raised target price of RM13.10.
The research firm raised its Public Bank's FY10-12F earnings estimates on positive outlook.
"We expect loan growth to remain strong in 2H10 given the strong loan approvals in 1H10," HwangDBS said.
Meanwhile, OSK said Public Bank's annualized first-half 2010 results were largely in line with consensus and full-year estimates.
"We are maintaining our target price of RM13.00, which implies a ROE of 26 per cent," the research firm said.
OSK has maintained its "buy" recommendation for the stock.
Meanwhile, "with another 25bps OPR hike in July, Public Bank would stand to benefit from higher NIM assuming minimal competition for deposits".
"Our target dividend payout is revised to 50-51 per cent (from 55 per cent) over FY10-12F, with gross DPS of 60sen, 68sen and 78sen," said HwangDBS.
Meanwhile, Affin has made an "add" call on Public Bank with a higher target price of RM12.70 from RM12.50 previously.
"We have adjusted our earnings forecast for FY10-12 by 0.4-0.8 per cent subsequent to the OPR hike in July 2010 and have reduced our dividend assumption for FY10-12from 45-55 sen net to 41.3-45 sen," said Affin.
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