BWAGF - BAWAG Group: An Austrian Bank With A Stable 9% Dividend Yield
2024-04-30 22:43:36 ET
Summary
- BAWAG Group is an Austrian retail/commercial bank with EUR 54 billion balance sheet and assets only in Western Europe and the U.S.
- Since my initial coverage, the bank has returned more than 40% to shareholders.
- The bank continues to be exceptionally profitable and has a stable dividend yield of (almost) 9%.
- The pending acquisition of the Dutch online bank Knab adds a growth aspect to the predominantly value-driven equity story.
- After strong Q1 2024 results I confirm my Buy recommendation.
Investment Thesis
(Note: all amounts in the article are in EUR. At the current exchange rate 1 EUR is approximately 1.07 USD.)...
BAWAG Group: An Austrian Bank With A Stable 9% Dividend Yield