研報掘金|中金:上調中銀香港目標價至29.53港元 維持“跑贏行業”評級
中金髮表研究報吿指,中銀香港上半年業績略高於預期,主要是由於淨利息收入表現較好。集團上半年ROE達12.39%,是2019年以來首次回到12%以上水平。中銀香港的估值仍處於歷史較低水平。中金表示,中銀香港派中期息0.57港元,派息比率為30%,雖然派息比率較去年同期下降3個百分點,但股息有穩定提升。
該行認為相比中期派息比率,全年派息比率更值得關注,看好公司全年的派息比率穩定提升。此外,考慮到集團資本較為充足,期待公司未來透過派息、回購或對外併購等方式實現對資本的有效運用。考慮ROE明顯改善,資產質量穩健,中金上調中銀香港目標價4.7%至29.53港元,維持“跑贏行業”評級,盈測則維持不變。
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