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[Alpha Biz=(Chicago) Reporter Kim Jisun] NH Investment & Securities raised its target price of IBK Industrial Bank to 15,000 won from 13,000 won on the 30th and maintained its purchase opinion.
"Reflecting dividend expectations, we reduced the discount rate from 65% to 60% and changed the standard net asset value per share (BPS) from 2023 to 2024," said NH Investment & Securities. "The target price was calculated by applying 0.4 times the target net asset ratio (PBR) to BPS 37,267 won in 2024."
"The biggest feature of IBK in terms of stock price is that it is strong in the fourth quarter," NH Investment & Securities said. "Unlike financial holding companies that carry out shareholder returns throughout the year through treasury stocks and quarterly dividends, IBK carries out year-end dividends only once a year."
NH Investment & Securities said, "Industrial Bank of Korea's rate of return based on this year's expected dividend per share of 1,050 won is expected to be 9.1%, which is a high dividend rate, and considering the increase in the mid- to long-term dividend payout ratio, the investment attractiveness is still high."
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
