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Investing.com -- Shares of BAWAG (VIE:BAWG) Group AG (VSE:BG) fell by 1.7% in today’s trading session, despite the company reporting overall revenues that were 6% higher than analyst expectations.
The dip in the stock price may be attributed to costs that were approximately 10% above the consensus forecasts.
The financial institution’s net interest income (NII) outperformed consensus estimates by 5%, but this was offset by a 3% underperformance in fees. The fourth quarter saw net write-backs of €1.4 million, due to the release of an overlay, which led to an 18% beat in profit before tax (PBT) against consensus estimates.
BAWAG’s CET1 ratio, a key measure of financial strength, stood at 15.2%, which was 29 basis points better than the consensus estimate. However, investors may have been concerned by the projected fully phased CET1 ratio for the fiscal year 2024, which at 13.8% fell short of the >14% guidance provided at the end of the third quarter.
Additionally, the company announced a fiscal year 2024 dividend per share (DPS) of €5.50, which surpasses the Visible Alpha consensus DPS estimate of €5.19. Despite the positive news on revenues and dividend, the higher-than-anticipated costs and the lower projected CET1 ratio seem to have weighed on investor sentiment.
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