Jefferies: De Giorgi's Exit a Significant Setback for STANCHART (02888.HK) with Poor Timing
CFO Departure: STANCHART's CFO Diego De Giorgi has left the company to join Apollo, with Peter Burrill temporarily taking over his responsibilities.
Impact on the Bank: Jefferies reports that De Giorgi's departure is a significant setback for STANCHART, especially as he played a key role in the 'Fit For Growth' program and was seen as a potential future CEO.
Upcoming Events: The timing of De Giorgi's exit is particularly challenging, as the bank is set to release its full-year results on February 23 and a mid-term strategy update in May, which are critical for its future.
Market Reaction: Following the announcement, STANCHART's stock experienced a decline, with short selling activity noted at $2.16 million and a ratio of 4.374%.
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M Stanley's Projections for STANCHART's 2025 Results (Table)
Morgan Stanley's 2025 Forecast for STANCHART: The report predicts an operating revenue of $20.797 billion, reflecting a 5.6% year-over-year increase, with notable growth in net fee income and trading revenue.
Profit and Expenses Outlook: The forecast includes a reported profit before tax of $7.031 billion (+16.9%) and underlying operating expenses of $12.231 billion (+3.7%), indicating a healthy profit growth alongside controlled expense increases.
Key Financial Metrics: The underlying profit attributable to shareholders is expected to reach $4.693 billion (+30.6%), with a full-year dividend per share of $0.44 (+18.9%) and a CET1 ratio of 14.3%.
Market Context: The report comes amid significant short selling activity, with $137.05 million in short sales and a ratio of 31.432%, indicating market skepticism about the stock's performance.
Brokers Predict STANCHART's Reported PBT Will Increase by Over 17% in 2025; Emphasis on Future Strategy and ROTE
Financial Performance Forecast: Standard Chartered is expected to announce a reported profit before tax (PBT) for 2025 between US$6.966 billion and US$7.526 billion, reflecting a year-on-year increase of 15.8-25.1% from 2024.
Shareholder Profit Expectations: The profit attributable to ordinary shareholders for 2025 is projected to be between US$4.517 billion and US$5.034 billion, indicating a year-on-year increase of 25.7-40.1% compared to 2024.
Dividend Projections: The expected dividend per share (DPS) for 2025 is forecasted to range from US$0.44 to US$0.53, representing an 18.9-43.2% increase year-on-year from US$0.37 in 2024.
Leadership Changes: The unexpected resignation of Group Chief Financial Officer Diego De Giorgi has raised concerns about Standard Chartered's future strategy and succession plans, with investors closely monitoring the company's return on tangible equity (ROTE) and revenue momentum.
Morningstar: De Giorgi's Exit as CFO Likely to Have Minimal Effect on STANCHART's Operations
Management Change: Diego De Giorgi, Group Financial Officer of STANCHART, has resigned, with Deputy Group CFO Peter Burrill temporarily taking over the role.
Stock Market Reaction: Following the resignation news, STANCHART's stock price fell by 6.4% during trading but later recovered most of the losses.
Market Concerns: Morningstar views the management change as a negative factor that may raise concerns about personnel changes and succession plans at the bank.
Future Outlook: Despite the management shift, Morningstar expects STANCHART to continue executing its "Fit for Growth" strategy under Burrill's leadership, maintaining its forecasts and fair value estimates for the bank.
<Research>G Sachs: Market Surprised by Sudden Exit of STANCHART (02888.HK) CFO
CFO Departure: Standard Chartered's CFO Diego De Giorgi has stepped down unexpectedly, leading to a significant drop in the bank's stock prices.
Market Reaction: The announcement caused STANCHART's H-shares to fall over 6% during trading, closing down 1.9%, with further declines in London.
Investor Concerns: Investors are reacting to the sudden leadership change, as De Giorgi was instrumental in the bank's recent transformation, raising questions about CEO Bill Winters' succession plans.
Upcoming Strategy Announcement: Attention is now on the company's corporate strategy announcement scheduled for May, which may provide insights into future directions following the CFO's departure.
STANCHART London Shares Drop 5.7%, Closing 3.6% Lower Than H-Shares
Executive Departure: Diego De Giorgi, Executive Director and CFO of STANCHART, has left the company to join Apollo Global Management, which has negatively impacted STANCHART's share price.
Market Reaction: Following De Giorgi's departure, STANCHART's London share price fell by 5.7%, and analysts at Jefferies highlighted the unfavorable timing of this change ahead of key financial results and strategy updates.
<Research> JPM: STANCHART (02888.HK) Stock Price Decline Seen as Attractive Chance to Buy
CFO Resignation: STANCHART's CFO, Diego De Giorgi, has resigned to join Apollo Global Management as Partner and Head of EMEA, which may lead to a decline in the company's stock price according to JP Morgan.
Market Reaction: JP Morgan predicts a low- to mid-single-digit decline in STANCHART's stock price due to the unexpected departure, despite the CFO's positive reputation and contributions to financial milestones.
Investment Outlook: Despite the potential stock price drop, JP Morgan maintains a positive investment outlook for STANCHART, citing its strong performance and ongoing strategic transformation.
Target Price: JP Morgan has set an Overweight rating for STANCHART with a target price of HKD265, viewing any stock price overcorrection as a buying opportunity.
M Stanley's Projections for STANCHART's 2025 Results (Table)
Morgan Stanley's 2025 Forecast for STANCHART: The report predicts an operating revenue of $20.797 billion, reflecting a 5.6% year-over-year increase, with notable growth in net fee income and trading revenue.
Profit and Expenses Outlook: The forecast includes a reported profit before tax of $7.031 billion (+16.9%) and underlying operating expenses of $12.231 billion (+3.7%), indicating a healthy profit growth alongside controlled expense increases.
Key Financial Metrics: The underlying profit attributable to shareholders is expected to reach $4.693 billion (+30.6%), with a full-year dividend per share of $0.44 (+18.9%) and a CET1 ratio of 14.3%.
Market Context: The report comes amid significant short selling activity, with $137.05 million in short sales and a ratio of 31.432%, indicating market skepticism about the stock's performance.
Brokers Predict STANCHART's Reported PBT Will Increase by Over 17% in 2025; Emphasis on Future Strategy and ROTE
Financial Performance Forecast: Standard Chartered is expected to announce a reported profit before tax (PBT) for 2025 between US$6.966 billion and US$7.526 billion, reflecting a year-on-year increase of 15.8-25.1% from 2024.
Shareholder Profit Expectations: The profit attributable to ordinary shareholders for 2025 is projected to be between US$4.517 billion and US$5.034 billion, indicating a year-on-year increase of 25.7-40.1% compared to 2024.
Dividend Projections: The expected dividend per share (DPS) for 2025 is forecasted to range from US$0.44 to US$0.53, representing an 18.9-43.2% increase year-on-year from US$0.37 in 2024.
Leadership Changes: The unexpected resignation of Group Chief Financial Officer Diego De Giorgi has raised concerns about Standard Chartered's future strategy and succession plans, with investors closely monitoring the company's return on tangible equity (ROTE) and revenue momentum.
Morningstar: De Giorgi's Exit as CFO Likely to Have Minimal Effect on STANCHART's Operations
Management Change: Diego De Giorgi, Group Financial Officer of STANCHART, has resigned, with Deputy Group CFO Peter Burrill temporarily taking over the role.
Stock Market Reaction: Following the resignation news, STANCHART's stock price fell by 6.4% during trading but later recovered most of the losses.
Market Concerns: Morningstar views the management change as a negative factor that may raise concerns about personnel changes and succession plans at the bank.
Future Outlook: Despite the management shift, Morningstar expects STANCHART to continue executing its "Fit for Growth" strategy under Burrill's leadership, maintaining its forecasts and fair value estimates for the bank.
<Research>G Sachs: Market Surprised by Sudden Exit of STANCHART (02888.HK) CFO
CFO Departure: Standard Chartered's CFO Diego De Giorgi has stepped down unexpectedly, leading to a significant drop in the bank's stock prices.
Market Reaction: The announcement caused STANCHART's H-shares to fall over 6% during trading, closing down 1.9%, with further declines in London.
Investor Concerns: Investors are reacting to the sudden leadership change, as De Giorgi was instrumental in the bank's recent transformation, raising questions about CEO Bill Winters' succession plans.
Upcoming Strategy Announcement: Attention is now on the company's corporate strategy announcement scheduled for May, which may provide insights into future directions following the CFO's departure.
STANCHART London Shares Drop 5.7%, Closing 3.6% Lower Than H-Shares
Executive Departure: Diego De Giorgi, Executive Director and CFO of STANCHART, has left the company to join Apollo Global Management, which has negatively impacted STANCHART's share price.
Market Reaction: Following De Giorgi's departure, STANCHART's London share price fell by 5.7%, and analysts at Jefferies highlighted the unfavorable timing of this change ahead of key financial results and strategy updates.
<Research> JPM: STANCHART (02888.HK) Stock Price Decline Seen as Attractive Chance to Buy
CFO Resignation: STANCHART's CFO, Diego De Giorgi, has resigned to join Apollo Global Management as Partner and Head of EMEA, which may lead to a decline in the company's stock price according to JP Morgan.
Market Reaction: JP Morgan predicts a low- to mid-single-digit decline in STANCHART's stock price due to the unexpected departure, despite the CFO's positive reputation and contributions to financial milestones.
Investment Outlook: Despite the potential stock price drop, JP Morgan maintains a positive investment outlook for STANCHART, citing its strong performance and ongoing strategic transformation.
Target Price: JP Morgan has set an Overweight rating for STANCHART with a target price of HKD265, viewing any stock price overcorrection as a buying opportunity.
