HSBK is still among my active ideas. I looked at some Italian banks recently and actually feel stupid for not having a closer look a year ago. I think now they don't look all that interesting anymore at 8-9x earnings.
With some exceptions like NU, banks usually don't fetch high earnings multiples.
Don’t think you’re into banks, but what do you think about Banca Monte dei Paschi di Siena S.p.A. ? It still looks really cheap
HSBK is still among my active ideas. I looked at some Italian banks recently and actually feel stupid for not having a closer look a year ago. I think now they don't look all that interesting anymore at 8-9x earnings.
With some exceptions like NU, banks usually don't fetch high earnings multiples.
BMPS.mi is trading at 3x earnings
Normalized earnings look to be closer to 1 billion going forward, vs 8.8bn market cap.