SVNLF - Handelsbanken: A HOLD After Outperformance (Downgrade)
2024-03-30 09:29:28 ET
Summary
- Handelsbanken has provided a safe 5-9% yield over the years and remains a strong investment in the Scandinavian finance market.
- The bank's 4Q23 results show a solid near-16% RoE, 37% growth in operating profit, and a low C/I ratio.
- Handelsbanken is AA rated by major agencies and has the highest combined credit ratings among comparable global banks.
Dear readers/followers,
I have been rating Handelsbanken ( SVNLF ) ( SVNLY ) a "BUY" for some time as I am writing this article. The last I wrote about the company was actually back in September of 2023 in this article which you can find here . At the time, results showed expected improvements due to beneficial NII/Interest rate trends, and these trends have continued going into this period.
In my previous article, I specified that the company has provided a safe 5-9% yield over the years and remains a strong investment in the Scandinavian finance market. That is still the case, except the yield is now well over 8% and the company has returned over 38% for me, and that is excluding dividends , given a massive move upward to levels even I did not expect the company to move to....
Handelsbanken: A "HOLD" After Outperformance (Downgrade)