- Bank Leumi reported a net income of 2.79 billion shekels for Q1 2024.
- Net income increased significantly from 981 million shekels in Q1 2023.
- Net interest income was 3.77 billion shekels, representing a 4.1% decline year-over-year.
- Provision for loan losses decreased by 45% year-over-year, amounting to 222 million shekels.
- Bank Leumi will distribute a cash dividend of 835 million shekels ($227 million).
- The bank is initiating an annual share buyback plan worth 1 billion shekels ($272 million).
- Total for the cash dividend and share buyback plan in Q1 2024 is around 1.1 billion shekels ($299 million).
- This combined total accounts for 40% of the bank’s net income for the quarter.
- Market analysts’ recommendations: 6 buys, 0 holds, 0 sells.
A look at Bank Leumi Le-Israel BM Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Bank Leumi Le-Israel BM, a prominent financial institution, has been assessed using the Smart Scores metrics to gauge its long-term prospects. With a solid Value score of 4, the company is deemed to be offering good value to investors. Coupled with a respectable Resilience score of 4, Bank Leumi demonstrates stability and the ability to weather fluctuations in the market. Furthermore, a high Growth score of 5 suggests that the company is positioned well for future expansion and development. Momentum and Dividend scores of 4 and 3 respectively indicate positive market momentum and a moderate dividend outlook for investors.
As a provider of a range of banking and financial services, including consumer loans, mortgages, insurance, and mutual funds, Bank Leumi Le-Israel BM also holds substantial equity interests in non-financial firms in Israel. The strong Growth score of 5 reflects the company’s potential for expansion and growth in the coming years. Investors might find Bank Leumi an attractive prospect due to its combination of good value, growth potential, and financial stability, as indicated by the Smart Scores evaluation.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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