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Bankinter: An Overlooked Spanish Bank With A 4.75% Dividend Yield

Published Tue, 11 Jun 2019 07:30:00 -0400 on Seeking Alpha

Last week, we discussed Galp Energia (OTC:GLPEF) (OTCPK: GLPEY) in the previous edition of Focus on Europe as the vertically integrated oil and gas producer based in Portugal reported on its Q1 results.
We are staying on the Iberian peninsula for this week’s version of Focus on Europe as the spotlights are on Bankinter this week. Smaller Spanish banks are often still ignored by the market although they have turned a corner by now. Bankinter’s CET1 capital ratio is more than 40% higher than the regulator’s minimum requirement, and its dividend yield will very likely come in at 4.75% based on a currently assumed 50% payout ratio. Plenty of things to like here.
Did you want to re-read the Galp Energia article? You can do so here.
A closer look at Bankinter, a small Spanish Bank
When (potential) investors look at the Spanish financial sector, they usually focus on the bigger (multinational Banks) like Banco Santander (SAN) and BBVA (BBVA). Even 25B EUR market cap Caixabank (OTCPK: CAIXY) (OTCPK: CIXPF) often gets completely ignored by foreign investors. And that’s a pity. As I have shown in a previous article on Banco Sabadell (OTCPK: BNDSF) (OTCPK: BNDSY), even the smaller banks that predominantly focus on domestic operations (within the Iberian peninsula, so including Portugal) have done a decent job in strengthening their balance sheet after the Spanish sovereign debt crisis in 2010-2014.

Source: Yahoo Finance
And now, five years... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
RIO TINTO 53.69   0.0 0.00 3.02 5.71
BANCO BILBAO VIZCAYA ARGENTARIA 5.25   6.5 0.81 0.29 5.57
BANCO SANTANDER 4.10   8.5 0.48 0.21 5.05
UNILEVER 61.67   0.0 0.00 1.77 2.95
UNILEVER 60.75   0.0 0.00 1.86 2.58
NASDAQ OMX GROUP 99.00   30.8 3.22 1.88 1.92
ANHEUSER-BUSCH INBEV 97.47   25.9 3.76 1.67 1.77
YPF 8.69   5.5 1.57 0.14 1.56


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