Unicaja Banco

Unicaja Banco reported a net profit of €201m in Q2 2026, beating analysts’ expectations thanks to lower provisions and higher other income. Pre-tax profit and revenue were above consensus, costs were in line with estimates, and net interest income rose slightly. The bank cut expected risk costs to 20–25 basis points, raised its forecast for net profit growth to a mid-single-digit percentage, and expects net interest income growth in the low- to mid-single-digit range. CET1 ratio stands at 15.8%, adjusted RoTE at 12%, and the payout ratio remains at 95%. » Altro su de.investing.com

Barclays says the downgrade is because Unicaja, after a recent revaluation, appears increasingly expensive on a P/E-to-earnings-growth basis. The price target was slightly raised from €3.00 to €3.10, even though Barclays sees aggregate EPS growth for 2026–2027 of 19%, below the banking sector’s roughly 22%. Unicaja is trading at an estimated 11.6x 2027 earnings (sector median ~10.1), and the dividend yield for 2027 is expected at around 6%. For Q2/2026 Barclays forecasts net income of €181m, a slight decline in CET1 to 15.61%, and regards takeover opportunities as less attractive given the bank’s higher valuation and larger size. » Altro su de.investing.com

Kepler Cheuvreux has upgraded Unicaja Banco from "hold" to "buy", viewing the bank as a central player in the consolidation of the Spanish banking sector. Analysts point to around 4% market share in loans and deposits, a comparatively attractive valuation and potential profitability gains from industry mergers. The stock rose about 0.5% on Monday. » Altro su de.investing.com