2024-10-02 15:46:33
The placement at National Bank seems to be causing serious turmoil throughout the banking sector, amidst the efforts of investors to acquire additional liquidity.
Thus, it is no coincidence that its stock Eurobank at Athens Stock Exchange accepts one steady wave of liquidations in recent days, which have brought the price below it psychological limit of 2 euros -for the first time since September 20.
Today, in fact, the listed bank folds by 2.8% and drops to 1.96 euroswhich is the lowest point of the ongoing session.
The fall is accompanied by particularly increased turnoveras by 2.00 in the afternoon 3.8 million pieces, worth 7.6 million euros, have been traded. Five “packages” should be added to this amount, with a cumulative amount of 6.8 million euros.
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-7.5% in 4 days
The result is that within the last four meetings Eurobank’s share has loses 7.5% of its value (from 2.12 to 1.96 euros), with its market value being “cut” to 7.2 billion euros.
As mentioned above, there are not a few investors who liquidate a part of their investments, in order to obtain the necessary funds and participate in the National placement.
At the same time, the geopolitical challenges, after the worsening of the crisis in Middle Eastcome to increase the downward spiral around the banks, which are considered enough vulnerable in such situations.
Returns +25%
However, despite the ongoing downturn, Eurobank’s stock is still offering satisfactory returns to investorswith the rise in 2024 set at +25%.
The current fold, in fact, may represent an opportunity to enter at low and attractive prices, given that today’s value of €7.2 billion reflects a profitability multiplier P/E at 5.6x and book value ratio P/BV at 0.8x.
The average analyst price target for Eurobank is calculated at 2.7 eurossomething that incorporates 40% upside compared to the current levels of 1.96 euros.
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(The above is a product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)