Since the beginning of this year, the increase in shareholdings by directors, executives and shareholders of listed banks has become a "landscape" in the A** field. According to incomplete statistics from the Financial TimesUp to now, shareholders of dozens of listed banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Industrial Bank, Bank of Ningbo, etc., have joined the "disk protection" army and invested in increasing their own **.
In the view of industry experts, the valuation of listed banks has been at a historically low level, and shareholders will increase their holdings of their own ** will provide support for banks to stabilize their stock prices, and help release positive signals and improve the valuation of bank stocks on the basis of good bank performance and good risk control.
A number of bank shareholders increased their holdingsRecently, a number of listed banks have received large increases in shareholder holdings. On the evening of December 10,Industrial BankAccording to the announcement, from August 1, 2022 to November 30, 2023, Fujian Port Group and its subsidiaries increased their holdings by about 5 percent in the secondary market5.9 billion shares of Industrial Bank, with a total shareholding ratio of 011% to 28%。According to the announcement, the purpose of Fujian Port Group's increase in holdings is based on its confidence in the future development of Industrial Bank, and the type of shares to be increased is A shares of Industrial Bank's unrestricted tradable shares, and the funds to increase their holdings are its own funds. December 4 alone for one dayChina Merchants BankTwo senior executives increased their holdings: Wang Xiaoqing and Peng Jiawen, vice presidents of the bank, respectively increased their holdings of China Merchants Bank's A-share shares by 570,000 shares, 050,000 shares, each involving about 160060,000 yuan, 140,000 yuan. In fact, it is not uncommon for directors, executives, and shareholders of listed banks to increase their holdings of their own ** out of their own pockets. The Financial Times reporter noted that since the beginning of this year, in addition to Industrial Bank, a number of listed banks have been actively increased by important shareholdersAmong them are the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, and the China Construction Bank. On October 11 this year, Huijin Company increased its holdings of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank by about 27.61 million shares and 37.27 million shares respectively220,000 shares, 2488790,000 shares and 18.38 million A shares, costing about 47.7 billion yuan. According to the announcement, Huijin intends to continue to increase its holdings in the secondary market in the next six months. Especially in the past two months, shareholders of listed banks have increased their holdings more intensivelyIn November this year alone, at least eight local small and medium-sized banks, including Bank of Ningbo, Bank of Suzhou, Bank of Lanzhou and Bank of Jiangsu, increased their holdings. From November 27 to November 30, Youngor Group, as the third largest shareholder of Bank of Ningbo, successively increased its holdings of Bank of Ningbo A shares by 573 through the Shenzhen Stock Exchange trading system080,000 shares, 567960,000 shares, 637920,000 shares, 416580,000 shares, a total of 2,195 A shares of the bank540,000 shares, increasing the shareholding ratio to 997%。On November 28, Bank of Suzhou announced that as of November 27, the relevant entities had increased their holdings of 500,000 shares through the Shenzhen Stock Exchange trading system with their own funds, accounting for 0 percent of the total share capital0136%, with a total increase of 310600,000 yuan, accounting for 103 of the lower limit of the amount of the increase plan53%, the implementation of the shareholding increase plan has been completed. Since the second half of this year, Bank of Jiangsu has received five consecutive increases in holdings from institutional shareholders Jiangsu Radio and Television Group, Jiangsu Communications Holdings, Jiangsu Phoenix Publishing and Media Group and Jiangsu Investment Management Co., Ltd. As for the continuous increase in shareholder holdings, Bank of Jiangsu said that it is based on shareholders' confidence in the bank's future development prospects and recognition of growth value. Experts are bullish on the valuation repair of bank stocksSince the beginning of this year, the valuation of bank stocks has been at a historical low in the A** market, and a number of banks have issued announcements to trigger stock price stabilization measures due to stock prices one after another. When combing through the wind data, the Financial Times reporter found that since the second half of this year, a number of listed banks, including Bank of Lanzhou, Bank of Jiangsu, Bank of Ningbo, Bank of Xiamen, Qilu Bank, Ruifeng Bank, Bank of Chongqing and Shanghai Rural Commercial Bank, have triggered the conditions for the start of stock price stabilization measures. Among them, Bank of Lanzhou issued two announcements during the year to trigger measures to stabilize stock prices. "In recent years, due to the complex macroeconomic and financial environment, the stock prices of a small number of banks have been ** one after another, and the stock prices of some banks have triggered relevant terms. In the view of Zhou Maohua, a macro researcher at the financial market department of Everbright Bank, the increase in the holdings of bank executives' real gold ** reflects their optimistic expectations for the bank and its stock price prospects. "Shareholder increase is an important measure for listed banks to stabilize stock prices, indicating the confidence of bank executives in the bank's development prospects and stock price stability, which stems from the judgment of the bank's medium- and long-term performance growth and business development trends, and releases a positive signal. Dong Ximiao, chief researcher of Zhaolian, said in an interview with a reporter from the Financial Times. In the short term, shareholder holdings have indeed played a role in stabilizing bank stock prices and repairing valuations. In October this year, after Huijin Company increased its holdings of four large state-owned banks again after 8 years, on the second day, 42 A-share listed bank stocks collectively opened higher in early trading, and as of **, there were still 40 bank stocks that closed up. Looking forward to the development trend of the banking sector in the A** market next year, a number of brokerage institutions have recently released their investment strategies for the banking sector in 2024, sending a positive signal for the valuation repair of bank stocks. Everbright** said that looking forward to 2024, opportunities and challenges coexist in the banking sector, and it is expected that the operating fundamentals will be generally stable, which will be able to maintain a reasonable profit growth in the banking sector. From a valuation perspective, the PB valuation of the banking sector is at a historically low level, and the downside of the stock price is relatively limited, which is defensive in nature. "At present, the valuations of various bank varieties within the banking sector have fallen to historical lows, and the valuations are at their historical lows, and the further downside is limited. Hua Chuang ** said in the research report that for banks with excellent business models, the valuation has tended to be reasonable or even undervalued, and its long-term fundamental performance and expectations have entered the appropriate allocation range. 
**: Financial Times client reporter: Zhang Bingjie.Editor: Yang Jingyi E-mail: fnweb@126com Follow the Financial Times*** for more exclusive news.