Swedbank Q3 net income slightly beats expectations
Swedbank Q3 net income slightly beats expectations
Overview
Sweden banking group's Q3 net income slightly beat analyst expectations
Q3 net interest income missed analyst expectations
Company cites positive business climate and credit risk model approvals as key drivers
Outlook
Swedbank did not provide specific financial guidance for the current quarter or full year in the press release
Result Drivers
POSITIVE BUSINESS CLIMATE - Swedbank said a favorable business environment supported results in the quarter
CREDIT RISK MODEL APPROVALS - Co highlighted approvals of credit risk models in Sweden and the Baltics as contributing to performance
Company press release: ID:nWkr3jT1mp
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| SEK 7.30 |
|
Q3 Net Income | Slight Beat* | SEK 8.25 bln | SEK 8.24 bln (9 Analysts) |
Q3 Net Interest Income | Miss | SEK 11.57 bln | SEK 11.82 bln (5 Analysts) |
Q3 CET 1 Capital Ratio |
| 17.20% |
|
Q3 Net Commission Income |
| SEK 4.70 bln |
|
Q3 Return on Equity |
| 15.60% |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 7 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Swedbank AB is SEK410.00, about 3.9% above its October 21 closing price of SEK394.50
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
Oct 22 - Swedish bank SEB Q3 net profit below forecast, pauses share buybacks
Oct 21 - Sweden's Handelsbanken Q3 operating profit below consesus estimates
Oct 21 - Norway's DNB Q3 profit falls 7.9%
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)