On the evening of August 22nd, the Postal Savings Bank and Suzhou Bank disclosed that in the second quarter, a total of 249 million shares were added by northbound funds.
with the intensive disclosure of listed banks' semi-annual reports, the situation of northbound capital holding shares has been released. The data shows that in the second quarter, northbound capital increased its banking stocks as a whole, including Ping An Bank, Nanjing Bank, Hangzhou Bank and Jiangyin Bank, in addition to the newly announced Postal Savings Bank and Suzhou Bank.
experts say that the economy will rebound steadily in the second half of the year, which will benefit the banking sector with low valuation and high dividend.
Overall positions increased in the second quarter
On August 22nd, the Postal Savings Bank disclosed that the semi-annual report showed that northbound funds increased their positions by 233 million shares in the second quarter.
according to the statistics of china securities journal reporter, as of August 22nd, 1 listed banks have disclosed semi-annual reports. According to the latest data disclosed by these 1 listed banks, Northbound Capital increased its banking stocks as a whole in the second quarter.
Specifically, Ping An Bank's semi-annual report shows that at the end of the second quarter, Hong Kong Securities Clearing Company was its second largest tradable shareholder, holding 1.721 billion shares, an increase of 142 million shares compared with the end of the first quarter, and the market value of its shares increased by 1.469 billion yuan, changing the "declining trend" of being reduced by northbound funds for two consecutive quarters. At the same time, northbound capital also increased positions in Nanjing Bank, Hangzhou Bank and Jiangyin Bank to varying degrees, adding 61 million shares, 3 million shares and 2 million shares respectively in the second quarter.
in addition, the northbound funds also show their favor for the city rural commercial banks to some extent. Taking Shanghai Rural Commercial Bank as an example, its semi-annual report shows that as of the end of the second quarter, Hong Kong Securities Clearing Company held 16 million shares of Shanghai Rural Commercial Bank, becoming the largest tradable shareholder of Shanghai Rural Commercial Bank.
Du Bin, chief strategist of Jinyong Investment, said that the northbound capital increase in bank stocks mainly reflected investors' expectations for economic improvement in the second half of the year.
However, with the disclosure of the semi-annual report recently, Northbound Capital began to swap positions for shares of listed banks. According to Choice data, as of last Friday (August 19th), since August, Northbound Capital has increased its positions in 18 banking stocks and reduced its positions in 2 banking stocks, slightly reducing its overall holdings by 255 million shares. In terms of jiacang, the top rankings are Minsheng Bank (32 million shares), China Everbright Bank (17 million shares) and Industrial Bank (16 million shares). Postal Savings Bank, China Bank and Zhangjiagang Bank were reduced to varying degrees.
The number of northbound capital positions increased from August 1 to August 19
Some of the top banking stocks
Source: Choice
Small and medium-sized banks in Jiangsu and Zhejiang are favored
Experts believe that from the banking stocks increased in the second quarter, these banks generally have the characteristics of good operating performance, and most of them are "clustered" in Jiangsu and Zhejiang.
For example, Jiangyin Bank and Suzhou Bank, which have been added to their positions, all performed well. Jiangyin Bank's semi-annual report shows that its operating income in the first half of the year was 2.36 billion yuan, a year-on-year increase of 25.96%; The net profit of returning to the mother was 575 million yuan, a year-on-year increase of 22.1%. Suzhou Bank's semi-annual report shows that in the first half of 222, the bank achieved operating income of 5.954 billion yuan, an increase of 8.5% year-on-year; The net profit of returning to the mother was 2.177 billion yuan, a year-on-year increase of 25.8%.
Guo Qiwei, an analyst in TF Securities, said that the good performance of Jiangyin Bank was mainly caused by the positive pull of net interest margin, the expansion of interest-bearing assets, the high growth of non-interest business and the significant optimization of expenses under cost control.
"From the semi-annual report, the performance and share price performance of local corporate banks in Jiangsu, Zhejiang and other regions are better than that of the banking sector as a whole." Wang Yifeng, chief analyst of the financial industry of Everbright Securities, explained that the credit supply of these banks is expected to maintain high growth, the asset quality will continue to be excellent, and the demand for capital replenishment constitutes the willingness to release performance, which will make them have strong performance certainty.
institutions are optimistic about the allocation opportunities of banking stocks
since July, the banking sector as a whole has declined. From July 1 to August 22, the Shenwan Tier 1 banking index fell by more than 11%. With the steady growth of listed banks' performance, many institutions have expressed optimism about the allocation opportunities of bank shares.
against the background that the market has some differences on macro-economic operation and capital market trend, the banking sector has obvious defensive value. "In the context of the pressure on stock prices, the average dividend yield of the banking sector is still high." Wang Yifeng said.
Du Bin said that the second quarterly report showed that the overall net profit growth rate of banks decreased month on month, but the overall situation was still relatively stable. The NPL ratio on the asset side improved, the provision increased, and the risk resilience remained strong. In the second half of the year, with the epidemic under control and policies implemented, the economy will rebound steadily, benefiting the banking sector with low valuation and high dividends.
Luo Yamei, an analyst at Western Securities, also believes that the positive factors in the banking sector are gradually increasing, and the market performance is expected to follow the path of wide credit, steady growth, improved economic expectations and valuation repair.
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