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Alawwal Bank Thursday, June 13, 2019 Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Alawwal Bank (1040) SAR19.58 Alawwal Bank twelfth best In this Report: performer of All Share Index in Highlights: Page 2019 Summary 1 Alawwal Bank, Saudi Arabia's 9th largest Bank by market Analysis 2 cap, has surged SAR4.48 (or 29.7%) year-to-date (YTD) in Bullish Parameters 2 2019 to close at SAR19.58. This makes the stock the twelfth highest performer in the All Share Index (TASI) which is up Bearish Parameters 6 14.2% in 2019. This also indicates a YTD relative price Period-based Shareholder Returns 7 increase of 15.4%. The average daily volume of 494,371 Price Volume Dynamics 9 shares so far in 2019 was 0.9 times the average daily volume in 2018. Peer Group Analysis 13 Figure 1: Activities Board and Management 16 Regulatory Announcements 17 Alawwal Bank is Offering corporate and personal banking News 18 services which include corporate finance, structured finance, working capital, Islamic banking, asset management, Financials 18 treasury, consumer banking, electronic banking, internet Index and Glossary 23 banking and private banking Further details can be found at http:// www.shb.com.sa Note also: Industry Group Banking Services Section Headers and Figures are mapped as Bookmarks in the PDF menu (left, top) Industry Banks Jun 13, 2019: USD 1 = SAR 3.75 Economic Sector Financials Business Sector Banking & Investment Services Fig 2: Stock Summary Shares Outstanding 1,143,072,000 Sector Bank Market Cap SAR22.4 billion (US$6 billion) TSR (10 yrs) 7.0% 52-Week Range SAR13.04-SAR19.58 Relative Strength (3 mo) 95 ISIN SA0007879071 PermID 8589955733 Fig 3: Financials Summary Quotes from Legends: Earnings Per Share at Balance Date Year ended Dec 2018 Dec 2017 Dec 2016 Sales (USD M) 950.3 989.8 982.6 Pretax (USD) - - 283.9M Net (USD M) 301.5 356.1 283.9 Sales were down 4% from US$989.8 million in 2017 to US$950.3 million in 2018. Net profit was down 15.4% from US$356.1 million in 2017 to US$301.5 million in 2018. www.BuySellSignals.com Index and Glossary at end of this Report. Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Analysis Bullish Signals • Rises to Falls: In the last three months the number of rises • In the last three months the stock has hit a new 52-week outnumbered falls 32:26 or 1.2:1. high eleven times, pointing to a significant uptrend. • In the Saudi Arabian market of 180 stocks traded today, • The price to 200-day MAP ratio is 1.29, a bullish indicator. the stock has a 6-month relative strength of 97 which In the past 200 days this ratio has exceeded 1.29 just means it is beating 97% of the market. twice suggesting a resistance level. The stock is trading • A price rise combined with a high relative strength is a above both its MAPs and the 50-day MAP of SAR17.55 is bullish signal. higher than the 200-day MAP of SAR15.16, a bullish • The Moving Average Convergence Divergence (MACD) indicator. The 200-day MAP has increased to SAR15.16. indicator of 12-day Exponential Moving Average (EMA) of An increase is another bullish indicator. 18.55 minus the 26-day EMA of 18.25 is positive suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal. • The Price/MAP 200 of 1.29 for Alawwal Bank is higher than the Price/MAP 200 for the All Share Index (TASI) of 1.2. Bearish Signals • The price has risen above the upper Bollinger band of SAR19.41. Bullish Parameters Fig 4: Present Value of SAR1000 invested 10 Years Ago - The present value of SAR1,000 (PV1000) invested ten years ago in Alawwal Bank is SAR1,974, including a capital gain of SAR781 and dividend reinvested of SAR194. - 10 years Multiplier in SAR = 1.974x - Annualized Total Shareholder Returns (TSR) in SAR = 7.0% www.BuySellSignals.com Page 2 Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Fig 5: Present Value of USD1000 invested 10 Years Ago - The present value of USD1,000 (PV1000) invested ten years ago in Alawwal Bank is $US1,973, including a capital gain of $US780 and dividend reinvested of $US193. - 10 years ago USD 1 equalled SAR 3.7467 - 10 years Multiplier in USD = 1.973x - Annualized Total Shareholder Returns (TSR) in USD = 7.0% Fig 6: Created Market Value [CMV# 12 yrs] (SAR B) Market Capitalization has increased by SAR9.2 billion from SAR13.1 billion to SAR22.4 billion in the last 12 years. This increase comprises cumulative retained earnings (RETE) of SAR1.4 billion and Created Market Value of SAR7.8 billion. The Created Market Value multiple, defined by the change in MCap for every SAR1 of retained earnings is exemplary at SAR6.51. Fig 7: MCap - 5 Year Increase In the past 5 years Market Capitalization has increased by SAR1.9 billion from SAR20.5 billion to SAR22.4 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years. MCap (SAR MCap (US$ - Price B) M) Last SAR19.58 22.4 5,968.4 1 Year ago SAR14.18 16.2 4,322.3 2 Years ago SAR11.02 12.6 3,353.2 3 Years ago SAR12.20 13.9 3,719.3 4 Years ago SAR23.0 26.3 7,011.7 5 Years ago SAR17.92 20.5 5,460 www.BuySellSignals.com Page 3 Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Fig 8: Moving Annual Return (Past 5 years) Quotes from Legends: Annual Return Based on a dynamic start date of 5 years ago, the real rate of return has averaged 8.4%. The Moving Annual Return has been positive in 3 of the last 5 years. An investment a year ago in 1040 would have produced a return of 38.1%. Capital Divide Annual Close Gain / 1040 nds % Yield Return (SAR) (Loss) (SAR) % % Jun 13 19.58 - 38.1 - 38.1 1 Yr ago 14.18 - 28.9 - 28.9 2 Yrs ago 11 - (10.6) - (10.6) 3 Yrs ago 12.3 0.25 (46.5) 1.1 (45.4) 4 Yrs ago 23 0.5 28.4 2.8 31.2 Close 5 years ago SAR17.92 Fig 9: Turnover Period Above Average The turnover rate in the 12 months to date was 9.9% (or a turnover period of 10 years 22 days). This corresponds to an average length of ownership of the stock at 4.3 times the average holding period. www.BuySellSignals.com Page 4 Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Fig 10: % Change (Tr. 12 Mo): Stock Fig 11: Past 12 Mo Stock Sector (38.1%) v Index (8.1%) Index (%) Fig 13: Rank in the All Share Index (TASI) [out of 140 stocks] In the past 12 months Alawwal Bank has outperformed the Description Value Rank All Share index (TASI) by 30.0%. MCap (US$ B) 6 17 Total Assets (US$ B) 21.9 13 Fig 12: Price > Moving Avg Price Revenue (US$ M) 950.3 20 Net Profit (US$ M) 301.5 19 Quotes from Legends: Moving Average Price Net Profit Margin % 31.7 19 PV$1000 (1Year) US$* 1,381 13 % Change YTD 29.7 12 * 1 year ago USD 1 = SAR 3.75; Jun 13, 2019: USD 1 = SAR 3.75 Fig 14: Increased ADVT past five years Avg. Daily Volume Traded 12 months ended Jun 13, thousand shares In the last 3 months the share price has exceeded the 200- day Moving Avg Price on 59/60 days; a bullish signal. In the past five years, Average Daily Volume of Trading (ADVT) has increased 227.7% to 544,298 shares. www.BuySellSignals.com Page 5 Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Fig 15: Increased Average Daily Turnover Past five years, 12 months ended Jun 13 (SAR million) In the past five years, average daily share turnover has increased 0.5% to SAR7.8 million (US$2.1 million). This suggests increased liquidity. Bearish Parameters Fig 16: Rank in the All Share Index Fig 17: Declining VWAP (TASI) [out of 140 stocks] Past five years, 12 months ended Jun 13 (SAR) Description Value Rank Return on Equity % 8.2 55 Price to Book 1.6 64 * 1 year ago USD 1 = SAR 3.75; Jun 13, 2019: USD 1 = SAR 3.75 In the past five years Volume Weighted Average Price (VWAP) has decreased by 22.5% to SAR15.96. Based on a dynamic start date of five years ago, there have been declines in VWAP in 3 out of 5 years. www.BuySellSignals.com Page 6 Quarterly Research report: Alawwal Bank Thursday, June 13, 2019 Saudi Arabia Edition Period-based Shareholder Returns YEAR-TO-DATE [up SAR4.48 or 29.7%] Alawwal Bank surges 30% in 2019 Alawwal Bank (TASI:1040), surged SAR4.48 (or 29.7%) year-to-date (YTD) in 2019 to close at SAR19.58 today. Compared with the All Share Index (TASI) which has risen 14.2% YTD, this is a relative price increase of 15.4%. PAST YEAR [up SAR5.10 or 35.2%] Alawwal Bank jumps 38% in past year Alawwal Bank (TASI:1040), jumped SAR5.40 (or 38.1%) in the past year to close at SAR19.58 today.
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