Just sharing stuff…
In this post, I tackle the brewing potential of the Union Bank of the Philippines (UBP). The news concerning its 300% growth completely caught my attention; I can’t help but be intrigued. Instinctively, I checked its P/E and collected the others’ in the sector as well. Among the index stocks in the financials sector, UBP has the lowest current P/E at 3.9728X; moreover, its expected P/E by the end of the year is 10.2769X.
Furthermore, the bank posted a 300% growth(!) in the first three (3) months of 2012. Here’s an excerpt of the news article I came across that was posted by The Philippine Star last April 30:
UBP president and chief operating officer Victor B. Valdepenas said it is not only the bank’s highest growth recorded in a given quarter, but “it is also a third of the P6.59 billion net income recorded for the whole of 2011, and we are only in the first quarter of 2012.”
Another important thing to note is that, “net interest income rose slightly to P1.77 billion in the first quarter this year, from the P1.76 billion in the same period last year.”
Its FV? Well, people in-the-know say that ₱150 a piece is quite a conservative prognostication. 😉