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BNP Paribas Act. Cat.A BNP Stock Quote

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Morningstar‘s Stock Analysis BNP

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BNP Paribas Meeting Its Targets, but Trading Revenue Could Be a Headwind

Johann Scholtz Equity Analyst

Analyst Note

| Johann Scholtz |

No-moat BNP Paribas reported a 10% year-on-year increase in attributable net income to EUR 2.8 billion for the third quarter of 2022, while year-to-date attributable net income grew by 12%. The robust growth is a good start for BNP Paribas to meet its target of a 7% attributable income annualized growth rate between 2021 and 2025. The 11.4% return on tangible equity that BNP Paribas has generated year to date is also ahead of its 11% 2025 target. BNP Paribas generates a more significant portion of its earnings from investment banking activities than the average European bank. While securities trading revenue declined sequentially in the third quarter, we calculate that BNP Paribas' year-to-date securities trading revenue is still 47% higher than its annualized quarterly average since 2017. In our opinion, the ongoing normalization of securities trading revenue is the significant potential headwind facing BNP Paribas. Net interest margin expansion on the back of higher interest rates should offset most of the reduction in investment banking income, even though BNP Paribas is not as rate-sensitive as most European banks. With credit fundamentals deteriorating, BNP Paribas management's high degree of confidence during the earnings call that it will not exceed its guidance of loan-loss provisions remaining below 40 basis points of loans, stood out to us.

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Key Statistics BNP

Company Profile BNP

Business Description

The merger of Banque Nationale de Paris and Paribas created BNP Paribas in 2000, making it the largest publicly traded bank in France. Although BNP Paribas has operations in about 80 countries, it considers France, Italy, and Belgium to be its home markets.

16, Boulevard Des Italiens
Paris, 75009, FRA
Industry Banks - Regional
Employees 189,765

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FAQs for BNP Paribas Act. Cat.A Stock

Yes. BNP has a forward dividend yield of 7.06%. See BNP’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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BNP’s market cap is 65.25 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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BNP’s stock style is Large Value.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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BNP’s price/sales is 1.08.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

BNP’s price/forward earnings is 6.58.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

BNP’s price/book is 0.53.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

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BNP’s beta can be found in Trading Information at the top of this page.
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Compare BNP’s historical performance against its industry peers and the overall market.