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Sberbank of Russia (SBER.ME)
MCX - MCX Real-time price. Currency in RUB
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Per yesterday’s release, q3 earnings of $3.3 B up 15% yoy; p/e of 4.4 based on annualized q3 earnings; based on last year’s dividend, yield of 9.1%. Hard to believe price is so low. Any thoughts what might cause price to increase?
Don't forget that Putin placed a 15 percent tax on foreigners dividends payout.
There are two issues. First, COVID has slowed the Russian economy; second issue is US sanctions. If they can somehow work around US sanctions (maybe a crypto), then that should be bullish. We are looking at a perfect storm at the moment.
Moved part of my dividends received in August from OGZPY to SBRCY, dividends on dividends sort of thing :) Will hold long, and enjoy the dividends.
If you apply a reasonable discount because it's a Russian bank, this stock is still a screaming buy. Looks substantially undervalued based upon ROE, ROA, book value....and other metrics. Plus, they are scheduled to continue raising their dividend payout through 2020 until they are paying out at least half of their earnings.
will this stock ever see gains again?
No recent messages....so I think I'll start a thread.
I've done quite a bit of work on SBRCY (as well as the opportunities in Russia).
The bank has a stellar record of accomplishment over the past decade even with the sanctions and past slowdowns in the Russian economy.
My comps were to some of the world's largest and better-known banks and this one came out as more than 50% undervalued---even after discounting the "Russia" factors.
I'm expecting 13% growth in EPS for the next 4-5 years, a dividend that will grow faster than that and a closing of the substantial discount in its P/E ratio to my comps.
Comments welcome !!!!
Well seems just like there are only a few of us on this conversation but I doubled down on the stock today and have a cost average of 13.09. Wish you all luck and we get a rebound from these levels.
Contrarian play -- Russian bank with a good rep and good yield.
Added today. an irresistible bargain. Buy when there's blood in the streets. It's there now. In a year, this latest sanction issue will blow over and SBRCY will be north of $20; in three years, I see this stock north of $35 but still at a discount to top drawer world banks because of its domicile.
I can't help but LAUGH! A Russian bank is the BEST performer in my entire portfolio! Go figure!
This stock seems to move up and down with the market. When will they pay the dividend?
I'm out. Nice 46% gain over the last 10 months or so. Maybe I'll get back in someday if this drops again. I'm only getting out because I see some other opportunities that I like more, and it's not easy to find a lot of analysis on this stock.
will this stock go up
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Great buy at this beaten down price..
$13.70 or so seems like a good re-entry point. Thinking that I'll wait for a bit and see if this come back to me. Might depend on freeing up funds in other areas. I still believe in this as a good investment, but we'll see.
bloomberg headline and story today: LISTEN TO ARTICLE
In this article
The ruble headed for its weakest closing level since November 2016 and Russian stocks and bonds plunged after local media published the full text of a U.S. bill seeking “crushing sanctions” for election meddling.
The currency slid 2.2 percent to 64.91 per dollar on Wednesday, sinking the most among major peers and breaking out of a range it’s traded in since April, after Russia’s Kommersant newspaper posted the draft introduced last week by a bipartisan group of legislators. The bill includes proposals to sanction new sovereign debt and block dollar transactions of the nation’s biggest lenders.
“The Kommersant publication was the straw that broke the camel’s back,” said Denis Davydov, an analyst at Nordea Bank in Moscow. “It’s important to be able to read and assess the actual bill.”
No action will be taken on the draft until the House is back from summer recess in September, leaving room for more market jitters through the end of the month. But with President Donald Trump calling for closer ties with Russia, and the U.S. Treasury warning earlier this year against sanctioning the sovereign debt market, it’s uncertain the bill will make it into law.
Traders are particularly concerned by a clause that calls for prohibiting “all transactions in all property and interests in property” of some of the country’s largest lenders. Sberbank, VTB Bank, Gazprombank, Promsvyazbank, Rosselkhozbank and Vnesheconombank are listed. The draft also includes Bank of Moscow, which was merged into VTB in 2016, while Vnesheconombank is listed twice in the text, without explanation.
Shamaila Khan, who holds Russian bonds as a director of emerging-market debt at AllianceBernstein in New York, is preparing for further sanctions in the “foreseeable future,” but thinks the penalties will be much subtler than the sweeping measures outlined in the lawmakers latest bill. The measures will most likely be directed at individuals or companies, she said.
“If you start crushing Russia by causing the banking system to collapse as a result of sanctions, it could actually lead to worse political outcomes than what you have right now,” Khan said. “The key rule of sanctions is that you want to keep some in reserve because if you use your worst sanctions then what do you follow it up with?”
The bill also seeks penalties on energy projects and a survey of President Vladimir Putin’s net worth. It follows reports of Russia’s ongoing efforts to sway U.S. elections, new efforts to hack U.S. senators, and intelligence agencies’ conclusion that Russia sought to meddle in the 2016 presidential election.
Lawmakers from both parties have also been sharply critical of President Donald Trump’s meeting with Putin in Helsinki last month, saying Trump hasn’t done enough to hold Russia accountable.
Investors learned their lesson not to take the threat of U.S. sanctions lightly after penalties introduced in April against a raft of billionaires and their assets sent markets into a nosedive. The Treasury has softened its position since then by outlining a path to lift curbs on companies controlled by Russian billionaire Oleg Deripaska.
The Russian government only managed to sell half the amount planned in a bond auction on Wednesday as borrowing costs jumped to the highest level in more than a year. The cost of insuring dollar debt against default through credit-default swaps jumped to a two-month high of 149 basis points. Banking stocks were the biggest drag on the benchmark stock index, which slid 1 percent.
“If the bill becomes law and Russia replies, the ruble would be hit even harder through deteriorating sentiment and a sell-off of Russian assets,” said Vladimir Miklashevsky, a strategist at Danske Bank A/S in Helsinki.
— With assistance by Justin Blum
Loan book doesn't have too much exposure to oil and gas p/e ratio is about 4 profits are growing consistently more than 5%. I bought a large chunk at 9.77. Weakness in the Rubel could be a major headwind for profitability, but how much lower can the rubel possibly go with sanctions already imposed, Oil and gas at 20-year lows and low government debt? Am I missing sth here or is this stock a bargain?
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