Like the absolutely necessary catalyst, which can bridge the gap between stock market returns from the rest of the industry, he sees Vassilis Psaltis your recent update Alfa Bank Moody’s, which last Thursday reinstated the listed company’s rating to investment grade – for the first time after 14 years.
![Psalmist: The Catalyst for the Stock Market Jump (?) and the “Weapons” for the Day After 1 vasilis psaltis Alpha Bank](https://thegurumedia.com/wp-content/uploads/2024/07/vasilis-psaltis_Alpha-Bank.jpg)
Your CEO fourth largest bank in Greecebased on the current market capitalization (3.7 billion euros), “bets” on a gradual improving the stock imagethat has already been achieved recover by 10% of the year’s lows (1.44 euros on 26/06).
The… trumps
After all, the multi-experienced psalmist – has 25 years of experience in banking– you can feel completely satisfied with the latest developments.
In addition to the Moody’s upgrade, Alpha Bank’s CEO is preparing on August 1st to “open” the bottomdistributing to shareholders the amount of 122 million euros from the 2023 profits (50% for share buybacks and the remaining 50% for dividend distribution).
And all this, just a few months after Psaltis, who has been with Alpha Bank since 2007, signed the historic agreement with the Italian giant UniCreditwho has now become the main shareholder of the Greek bank with rate of 9.6%.
Ioannou: The two sides of the coin, the 3.3 billion portfolio and the other businesses
Certainly, since January 2019, when he took over as “director” of the bank (from 2007 to 2018 he held other high-ranking positions), he has managed to significantly change the image of the financial institution, which projects an image of… health.
It is no coincidence that in the first quarter of 2024 it managed to net profit of 211 million euros, with the return on tangible equity improving to 13.5% and the tangible book value of the share reaching 2.8 euros.
The stock in circulation
What remains now is for Vassilis Psaltis to manage to increase the stock market value of the bank, which is trading at a remarkable price. discount compared to the rest of the industry. And this is eloquently reflected in the indicators P/E and P/BVwhich are only 5.9x and 0.5x, respectively.
Don’t forget that the average price – analysts’ target rises near 2.2 eurosthat means positive margin of almost 40% compared to current levels (around 1.6 euros/share), which for 2024 currently provide investors with zero returns.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)