[Click eStock] "Korea Financial Group, Attractiveness Highlighted One Day Before Ex-Dividend Date"

[Asia Economy Reporter Oh Ju-yeon] NH Investment & Securities analyzed on the 28th that Korea Financial Group, which tends to be relatively overlooked at the end of the year due to its lower dividend yield compared to competitors, could highlight an attractive valuation again from the current point, one day before the ex-dividend date.

According to NH Investment & Securities, Korea Financial Group's controlling net profit for next year is expected to increase by 10.1% year-on-year to 831.2 billion KRW.

In the securities division, retail-related revenue is expected to continue. The average daily trading value of domestic stocks increased from 21 trillion KRW in October to 27.6 trillion KRW in November, and currently stands at 32.8 trillion KRW in December. Early redemption of ELS was also conducted massively based on the rise in domestic and international stock indices. Stock credit balance is at an all-time high.

Additionally, traditional IB continues to show solid performance, and investment-type IB is also showing a steady trend mainly in domestic deals. In particular, the initial public offering (IPO), which showed good performance this year, is expected to be even better next year.

Concerns related to commercial real estate are gradually easing, and although one-off in nature, there is also a gain from the equity method disposal of KakaoBank shares.

Researcher Jeong Jun-seop stated, "Reflecting the earnings estimate adjustment for Korea Financial Group, we raise the target price from the previous 94,000 KRW to 105,000 KRW." The target price was calculated by applying an appropriate PBR of 0.98 times to the 2021 book value per share (BPS) of 106,742 KRW.

This content was produced with the assistance of AI translation services.