Stock of National Bank under Pressure
Today, the stock of the National Bank is at the center of reasonable pressures in the Athens Stock Exchange, as the loss of the right to this year’s dividend favors sell orders from investors. It is characteristic that the listed title is slipping by almost 4% in today’s session, resulting in a decline to €8.1, the lowest level since July 17th.
At the same time, today’s losses prove to be the most intense since September 19, 2023, when the stock had lost 5.2% of its value.
Market Analysis: Stocks Plummet Ahead of Dividend Payout
Stocks in the market are experiencing a significant drop in value, with trading volume remaining low. So far, the value of transactions has not exceeded 1.3 million euros, with only 156,318 shares changing hands.
Dividend and 6-Month Report
The sharp decline in stock prices is attributed to the cut in the dividend payout of 0.36 euros per share, totaling 332 million euros (gross amount).
Stock Exchange: Banks Prepare for August Break
The dividend payout – the first in 16 years – is scheduled for August 2nd, following the market analysis.
Banking Rewards for 2023 and Financial Results for Q2 2024
The banking sector is gearing up for the rewards season in 2023. Meanwhile, on Thursday (1/8), the announcement of the financial results for the second quarter of 2024 will take place.
34% Rally in 2024
Since the beginning of the year, excluding today’s session, the stock of the National Bank has been on a rally of about 34%. In the last 30 days alone, gains have exceeded +10%.
Currently, analysts’ average target price, according to investing data, is estimated at 9.4 euros, translating into an additional upside potential of around
The current market capitalization and interest in the Greek bank
The current market capitalization of 7.5 billion euros, which is approaching the high of the last 8 years, reflects a price-to-earnings ratio of 6.3x and a price-to-book value ratio of 0.93x.
Interest in the Greek bank
Interest in the bank is expected to increase after the end of summer, when final decisions are expected regarding the sale of the remaining stake owned by the Greek government.
It is worth noting that following the successful placement in November, the Hellenic Financial Stability Fund still holds 18% of the bank’s shares.
The Future of Private Ownership
According to recent studies, it is projected that by the end of 2025, the majority of shares will have returned to the hands of private individuals. This shift in ownership is expected to bring about significant changes in the market.
It is important to note that this information is based on journalistic research and should not be taken as investment advice. Whether you are looking to buy, sell, or hold onto any stocks, it is always recommended to consult with a financial advisor.