DBS, Top Japanese Lenders Said to Be Bidders for Panin Bank
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
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Source: Yahoo Finance
Potential Acquisition Interest: Asian banks such as DBS, MUFG, and Sumitomo Mitsui are exploring the acquisition of PT Bank Pan Indonesia (Panin Bank), with preliminary proposals submitted amid ongoing considerations from various financial institutions.
Market Reaction and Stakeholder Dynamics: Panin Bank's shares surged by 8.4%, reflecting increased interest, while ANZ Group is contemplating selling its stake, and the controlling Gunawan family may also consider a sale if the price is right, despite previous valuation concerns hindering negotiations.
Analyst Views on SMFG
Wall Street analysts forecast SMFG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SMFG is 32.53 USD with a low forecast of 32.53 USD and a high forecast of 32.53 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 20.650
Low
32.53
Averages
32.53
High
32.53
Current: 20.650
Low
32.53
Averages
32.53
High
32.53
About SMFG
Sumitomo Mitsui Financial Group Inc is a Japan-based company mainly engaged in businesses related to financial services, centering on banking, leasing, securities, consumer finance, and system development and information processing. The Company consists of five business segments. The Wholesale Business segment provides services to large domestic corporations as well as small and medium-sized enterprises. The Retail business segment serves retail customers in Japan. The Global Business segment serves Japanese and non-Japanese clients overseas. The Market Business segment provides services for financial markets. The Headquarters Administration Business segment provides services that do not belong to any of the above business segments.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
