Two CaixaBank executives take advantage of the bank’s stock market rally to sell shares | Financial markets

2024-05-06 17:57:27

CaixaBank headquarters in Barcelona, ​​in an archive image.David Zorrakino (Europa Press/Getty Images)

Two CaixaBank executives have taken advantage of the stock market rally that the bank has experienced at the start of the year to sell shares. According to the records of the National Securities Market Commission (CNMV), Ignacio Badiola, director of investment banking at the Catalan entity, sold 23,800 securities on April 30 at a price of 5.04 euros per share, which which represents about 120,000 euros.

For her part, María Luisa Martínez, the director of communications and institutional relations at CaixaBank, sold a total of 5,000 shares for a price of 4.98 euros each, which represents a total volume of 25,000 euros. In that sense, both directors have taken advantage of the fact that the entity is trading at its highest levels in recent years to get rid of securities and make cash.

The CNMV does not detail the date on which Badiola and Martínez acquired the shares or the profitability obtained from their sale. But CaixaBank shares are trading at their highest levels in the last five years. This Monday they closed the session with a price of 4.87 euros per share. So far this year there has been a 27% revaluation and the price has managed to exceed the book value. The bank started the year with a stock market value of 28,000 million and currently stands at 36,500 million. In fact, it is already the fifth company by weight on the Ibex, only behind Inditex (133,000 million), Iberdrola (74,000 million), Santander (72,000 million) and BBVA (57,000 million).

CaixaBank earned 4,816 million euros during 2023, 54% more than the previous year, which represents the highest ordinary profit in its history. With these figures, the entity has revised upwards its shareholder remuneration plan planned for the 2022-2024 period from a distribution of 9,000 million between dividends and share buybacks to 12,000 million at the end of the period.

Follow all the information about Cinco Días in Facebook, X y Linkedinor nuestra newsletter Five Day Agenda

Newsletters

Sign up to receive exclusive economic information and the financial news most relevant to you

¡Apúntate!