Financial stockholders don’t be discouraged! Foreign capital actively backs CITIC Financial, while domestic capital prefers SinoPac Financial. (Extracted from Qimo Stock Market)
[Reporter Zhang Huiwen/Taipei Report]Foreign investors sold heavily in financial stocks in September. Yushan Gold, Taiwan Enterprise Bank, and Fubon Gold all sold more than 20,000 shares, causing many financial stockholders to wonder, “Can I still buy them?” ”? However, since October, domestic and foreign investors have obviously covered up financial stocks. Judging from last week’s overbuying rankings by foreign investors, CITIC Financial and SinoPac Gold both overpurchased more than 40,000 contracts in a single week. The first choices for investors to cover back their investment stocks are SinoPac and Development Bank. gold.
According to statistics, among the top 20 foreign investors who bought last week, CITIC Gold ranked second and Sino-Fung Gold ranked third, followed by Mega Gold, Cathay Gold, Yuanta Gold, Shin Kong Gold, Taishin Gold, and Yushan Gold. It can be clearly seen that It was found that financial stocks accounted for 8 of the top 20 stocks; as for the top 20 investment stocks, Sino-Fung Gold and Development Gold were the main ones, followed by Mega Gold and Yuan Dai Gold.
As a result of last year’s epidemic prevention and control measures and the low base period, the cumulative profits of 14 financial holding companies in the first nine months reached 339.4 billion yuan, an annual growth rate of more than 8%. Yuanta Investment Consulting’s analysis is optimistic about MegaGold, which is a bank-based company. It is estimated that foreign exchange gains will boost profit growth in 2023 and support dividend distribution in 2024. The property and casualty insurance side will emerge from the haze of epidemic prevention insurance and operations will return to the right track. Give Mega Gold a “buy” rating and a target price of 40 yuan.
Some legal persons believe that there are currently five financial holding companies whose cumulative profits in the first three quarters have exceeded 20 billion yuan, including Fubon Gold, Cathay Gold, CITIC Gold, Mega Gold and Yuan Dai Gold. If we look at the after-tax earnings per share (EPS) ), Mega Gold’s EPS in the first three quarters of this year was 1.92 yuan, and CITIC Gold’s EPS in the first three quarters was 2.44 yuan. However, CITIC Gold’s stock price lagged behind Mega Gold. Based on price comparison and compensatory growth, CITIC Gold still has the opportunity to rise.
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