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Hana Financial Group. (photo = Yonhap news). |
[Alpha Biz= Reporter Kim Minyoung] On the 29th, eBEST Investment & Securities raised the target price of Hana Financial Group by 20% from 54,000 won to 65,000 won. However, the investment opinion has been lowered from 'buy' to 'hold'.
Regarding the drop in investment opinions, eBEST Investment & Securities said, "We have lowered our investment opinions to holdings in consideration of an additional rise in stock prices," adding, "We believe that expectations for a value-up program are largely reflected in the current level of stock prices."
Hana Financial Group earlier announced its first-quarter earnings on the 26th, exceeding market expectations. Commission profits reached a record high of KRW 600 billion, recording a quarterly net profit of KRW 1.34 trillion. The non-banking sector, including securities, credit cards and capital, posted a combined net profit of KRW 200 billion, increasing its contribution to its performance.
It is also spurring the expansion of shareholder returns. Hana Financial Group said it will pay the same dividend per share (DPS) as last year as quarterly dividends. Treasury stock retirement is worth 300 billion won, which has doubled compared to the previous year.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
