[Market Focus] iM Financial Group Surges on Expectations of Expanded Shareholder Returns...Hits Record High

iM Financial Group showed strong performance on expectations of expanded shareholder returns, setting a new intraday 52-week high.

As of 9:25 a.m. on July 14, iM Financial Group was trading at 15,190 won on the Korea Exchange, up 210 won (1.40%) from the previous session. During intraday trading, the stock rose to 15,270 won, marking a new 52-week high.

Expectations of expanded shareholder returns are cited as the main driver behind the stock price increase. On this day, Mirae Asset Securities raised its target price for iM Financial Group from 12,500 won to 19,000 won, stating that the rapid rise in the company's capital ratio would enable greater shareholder returns. The investment opinion was maintained at 'Buy.' Jung Taejun, a researcher at Mirae Asset Securities, explained, "The current shareholder return target ratio for iM Financial Group is 40%, which is lower than that of other banks. This is due to the company's previously weak capital ratio last year." He continued, "As demonstrated in the previous quarter, a strong profit turnaround is continuing, and the capital ratio is expected to rise rapidly as a result. Therefore, the company is expected to soon achieve a common equity capital ratio of 12.3%, which would allow the shareholder return target ratio to increase from 40% to 50%." He added, "The scale of share buybacks and cancellations, which had been considered weak compared to other banks, is also expected to be achieved earlier than the previously announced plan (150 billion won by 2027). After that, we expect a new, strengthened shareholder return policy to be introduced."

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