Karachi, February 18, 2014 (PPI-OT): Bank Al Habib: Lowest PE in banking sector – best buy for CY14
Bank Al Habib (BAHL) to announce its financial results for CY13 today.
According to Standard Capital, they like BAHL mainly due to expected good earnings in CY13 and CY14.
Dividend yield of 9%
BAHL has a history for risk diverse strategic planning in order to attain sustainable growth. Standard Capital also sees BAHL model to be of a bank which is in growth phase. Any bank which is deciphering dividend yield of 9% – 10% is a good bet for investing point of view.
CY14 PE 6x – best buy
Standard Capital expects that BAHL to report EPS of Rs 5.20 for CY13 along with Rs 3 – Rs 3.5/sh as cash dividend for full year CY13. BAHL yield PE of 6x for CY14 based on Standard Capital expectes earning of Rs 6/sh for CY14. This makes BAHL attractive for investment as cheap bank among peers.
Standard Capital considers BAHL to be best hedge for risk-averse investors.
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