BDO

[Futures]

kung ako sayo wag mo nalang bantayan.... Kaka conclude pa lang ng SRO eh. madami gusto mag benta dyan

hindi ko maiwasan na di bantayan. pero mukhang matatagalan pa nga ang angat nito.

Sa tingin ko rin consolidate muna ito dahil sa SRO.
Kung mag-70 ma, very extraordinary na yan o kaya merong significant development.

[ahock]

bakit mayroon bang over allotment? ako Ive been asking COL pero wala na daw.

Meron Engr. Ahock! Nakakuha ako sa COL.
Yung second round offering sa tingin ko yun na yun.
Meron oversubscription request form sa COL dati. Nakafillup ka na ba nun dati?

wala pa subscription nag sabi na ako sa COL.... almost every I asked them if ano ang pwede ko gawin para ma qualify sabi nila that time depende sa market. Until sa closing nag sabi ako pero sabi nila wala daw then all of a sudden meron pala? I even posted here and ask sabi ni Miner di papalamang si Tatang. Pano nangyari yun?

Ma emailan nga itong COL ngayon.

[Futures]

Hanggang asa lang naman talaga tayo sa oversubscription na yan Sir Ahock. Kukunan ka nga ng pera pambayad kahit di assured na mabigyan. Kaya kinakaibigan ko rin relation officer ko. Good morning Scarborough! Hope your day started well... something like that hehehe.

But depende sa stock. In case of BDO, expected high demand ang oversubscription na yan.

[ahock]

Yup I know hanggang asa lang tayo. Sa case ko kakay ako nangulit dahil nagbabaka sakali lang naman pero sabi wala na daw and that I understand. Pero knowing you guys got it eh medyo buffling din kasi if they have told me priority preferred client eh walang problema sana kaso hindi eh

[fuji]

6 months to go
----
BDO to open 50 new branches this yr
By Ted P. Torres (The Philippine Star) Updated July 06, 2012 12:00 AM Comments (0) View comments


MANILA, Philippines - BDO Unibank Inc. said it is still keen on opening between 35 to 50 additional branches this year.

In a press briefing yesterday at the Philippine Stock Exchange (PSE), BDO president and chief executive officer Nestor V. Tan said the expansion would enable the bank to more effectively reach its target market.

The commercial bank of the SM Group acquired the Rural Bank of San Juan Inc. last May. Formerly known as Banco San Juan, the rural bank operates 30 branches located mostly in Metro Manila and selected areas in Luzon. It has P2 billion in total resources.

Tan said the number of their branches would dramatically increase if BDO manages to finally acquire the closed Export and Industry Bank (EIB).

EIB was placed under receivership in April after it voluntarily declared its inability to meet maturing obligations. The state-run Philippine Deposit Insurance Corp. (PDIC) has since started paying out depositors and at the same time, opened the door for interested bidders for the sale of the assets and liabilities of EIB, including its 50 branches.

Meanwhile, Tan said the P43.5 billion ($1 billion) the bank raised recently through a pre-emptive rights offer would retire maturing Tier 2 debt papers.

“By September, we would be retiring P10-billion worth of Tier 2 debts,” Tan told reporters.

The rest would be used for branch expansion and to serve as buffer for any changes in capital base requirements, based on the international Basel III capital framework.

The present 10-percent minimum capital adequacy ratio (CAR) is estimated to increase to 12.5 percent.

Tan said that with the rights offer, its total CAR rose to 20 percent from 15 percent, and from the previous 10 percent Tier 1 to 15 percent.

The rest of the additional capital would add to their loan portfolio, which has been growing by an annual average of 20 percent. In the first quarter of 2012, loans grew 23 percent while for the whole of 2011, lending grew 24 percent.

[BASURERO]

Sa lahat ng large cap, ito ang superloser.
I wanna buy

[ahock]

ano meron dito? parang malakas ah?

[ahock]

is it a good entry point?

[BASURERO]

BDO UNIBANK, INC. – BDO

CURRENT PRICE = PhP 61.20


P/E RATIO TEST:

2009 Earnings-per-share = 2.57
2010 Earnings-per-share = 3.3700
2011 Earnings-per-share = 3.9100
2012 1H Earnings-per-share = 2.0400

Average earnings-per-share (based on the past 3 years and 2 quarters) = 3.4825
Average price earnings ratio (based on the past 3 years and 2 quarters) = 7.57

Graham recommends current price no more than 15 times average earnings over the past three years.
This company has high price earnings ratio.
This issue has “borderline” failed Benjamin Graham’s price-earnings ratio test.


PRICE-TO-BOOK RATIO TEST:

Total Equity = PhP 103,393,000,000
Outstanding Shares = 3,580,875,328
Book-Value per Share = PhP 28.87
Price-to-Book ratio (PB) = 2.12

Current price should not be more than 1.5 times the book value last reported.
This company has high price-to-book ratio.
This issue failed Benjamin Graham’s price-to-book ratio test.


NET-WORKING-CAPITAL OR “RARE BARGAIN” TEST:

Current Asset = PhP 1,122,075,000,000
Total Liabilities = PhP 1,068,284,000,000
Net Working Capital = PhP 53,791,000,000
Current Asset to Total Liabilities ratio = 1.05

* By “net-working-capital”, Graham means current assets (such as cash, marketable securities, and inventories) minus total liabilities (including preferred stock and long-term debt).

Current assets is greater than the total liabilities.
Graham recommends issues with positive net-working-capital.
This issue passed Benjamin Graham’s net-working-capital or “RARE BARGAIN” test.


GRAHAM’S “BLENDED MULTIPLIER” TEST:

P/E = 17.57
P/B = 2.12
P/E*P/B = 37.25

Stock is overvalued.
Graham suggests that the product of P/E and P/B should not exceed 22.5.
This issue failed Graham’s “blended multiplier” test.


LIMITATION OF THE ANALYSIS:

Analysis does not include earnings stability, dividend records, earnings growth and futures earnings (or forward P/E ratio).

Due to limitations of expertise, the analyst did not attempt to cover banking industry’s key performance indicators such as: Return on Average Equity, Return on Average Assets, Capital Adequacy Ratio, Non Performing Loan Ratio, etc..


REFERENCE:
http://www.pse.com.ph/resource/corpt/20 ... un2012.pdf
http://www.pse.com.ph/resource/corpt/20 ... 102012.pdf

[Tsupit King]

it would be nice to see comparison among top tier banks. i guess it will be all over-valued. favorable monetary policy and economy will drive bank's profits. just look at the trend each quarter since past 3 years. increase in profits are exponetial. once it hits the peak....we should all welcome a BIG MARKET CORRECTION.

[BASURERO]

BDO UNIBANK, INC. – BDO

CURRENT PRICE = PhP 61.20


P/E RATIO TEST:

2009 Earnings-per-share = 2.57
2010 Earnings-per-share = 3.3700
2011 Earnings-per-share = 3.9100
2012 1H Earnings-per-share = 2.0400

Average earnings-per-share (based on the past 3 years and 2 quarters) = 3.4825
Average price earnings ratio (based on the past 3 years and 2 quarters) = 7.57

Graham recommends current price no more than 15 times average earnings over the past three years.
This company has high price earnings ratio.
This issue has “borderline” failed Benjamin Graham’s price-earnings ratio test.


PRICE-TO-BOOK RATIO TEST:

Total Equity = PhP 103,393,000,000
Outstanding Shares = 3,580,875,328
Book-Value per Share = PhP 28.87
Price-to-Book ratio (PB) = 2.12

Current price should not be more than 1.5 times the book value last reported.
This company has high price-to-book ratio.
This issue failed Benjamin Graham’s price-to-book ratio test.


NET-WORKING-CAPITAL OR “RARE BARGAIN” TEST:

Current Asset = PhP 1,122,075,000,000
Total Liabilities = PhP 1,068,284,000,000
Net Working Capital = PhP 53,791,000,000
Current Asset to Total Liabilities ratio = 1.05

* By “net-working-capital”, Graham means current assets (such as cash, marketable securities, and inventories) minus total liabilities (including preferred stock and long-term debt).

Current assets is greater than the total liabilities.
Graham recommends issues with positive net-working-capital.
This issue passed Benjamin Graham’s net-working-capital or “RARE BARGAIN” test.


GRAHAM’S “BLENDED MULTIPLIER” TEST:

P/E = 17.57
P/B = 2.12
P/E*P/B = 37.25

Stock is overvalued.
Graham suggests that the product of P/E and P/B should not exceed 22.5.
This issue failed Graham’s “blended multiplier” test.


LIMITATION OF THE ANALYSIS:

Analysis does not include earnings stability, dividend records, earnings growth and futures earnings (or forward P/E ratio).

Due to limitations of expertise, the analyst did not attempt to cover banking industry’s key performance indicators such as: Return on Average Equity, Return on Average Assets, Capital Adequacy Ratio, Non Performing Loan Ratio, etc..


REFERENCE:
http://www.pse.com.ph/resource/corpt/20 ... un2012.pdf
http://www.pse.com.ph/resource/corpt/20 ... 102012.pdf

correction po sa PER ng BDO...it should be 17.57...not 7.57...i apologize for the clerical error...sorry po

[Out of Stock]

15 nalang PE pasok na kay graham

[viking_trader]

Any updates on this stock ... tempting na to enter below 60