- Bank Leumi’s net income for the first quarter of 2024 is 2.79 trillion shekels, a significant increase from 981 million shekels in the same period last year.
- Net interest income decreased by 4.1% year-on-year to 3.77 billion shekels.
- Provision for loan losses dropped by 45% year-on-year to 222 million shekels.
- The Bank will distribute a cash dividend of 835 million shekels (approximately $227 million).
- An annual share buyback plan totaling 1 billion shekels (approximately $272 million) has been launched.
- The total cash dividend and share buyback plan for the first quarter of 2024 amount to approximately 1.1 billion shekels ($299 million), which is 40% of the net income for the quarter.
- Analyst 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 shows a promising long-term outlook according to the Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, the company demonstrates strength in its potential for expansion, ability to withstand economic challenges, and positive market performance. Additionally, a solid Value score indicates that the company may be undervalued relative to its fundamentals, presenting a potential opportunity for investors. Although the Dividend score is not the highest, the overall outlook for Bank Leumi Le-Israel BM appears positive based on the Smart Scores assessment.
Bank Leumi Le-Israel BM, a company that attracts deposits and provides various financial services, holds an advantageous position in the market. Offering a range of services from consumer loans to insurance, the bank also holds significant equity stakes in non-financial corporations in Israel. With strong scores in Growth, Resilience, and Momentum, Bank Leumi Le-Israel BM seems well-positioned for long-term success, supported by its diversified business model and strategic investments in the Israeli market.
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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