BMPS.MI - Banca Monte dei Paschi di Siena S.p.A.

Milan - Milan Delayed Price. Currency in EUR
1.0450
+0.0250 (+2.45%)
As of 3:14PM CEST. Market open.
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close1.0200
Open1.0310
Bid1.0420 x 0
Ask1.0460 x 0
Day's Range1.0260 - 1.0460
52 Week Range0.9750 - 2.2400
Volume919,253
Avg. Volume4,194,400
Market Cap1.154B
Beta (5Y Monthly)1.34
PE Ratio (TTM)N/A
EPS (TTM)-1.1850
Earnings DateAug 04, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 23, 2011
1y Target Est2.19
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Thomson Reuters StreetEvents

      Edited Transcript of BMPS.MI earnings conference call or presentation 7-May-20 10:00am GMT

      Q1 2020 Banca Monte dei Paschi di Siena SpA Earnings Call

    • Bloomberg

      It's Politics as Usual in Italy's State-Led Firms

      (Bloomberg Opinion) -- The anti-politics Five Star Movement may be part of Italy’s ruling coalition, but recent nominations to the boards of Italy’s state-backed companies look as pro-politics as ever.Oil major Eni SpA, utility Enel SpA and defense group Leonardo SpA are among those that get a boardroom review every three years. The quixotic hope is that appointments are made via a clear process and at arm’s length from politics. This time around, unfortunately, one gets the impression of low-level horse trading.Nominations seem to have been crudely carved up between the two sides of the ruling coalition, with the Democratic Party choosing the chief executives and Five Star nominating the chairmen. This turns good governance into a political balancing act.The CEOs have mainly been reconfirmed in their roles. Fair enough. Ditching well-regarded executives in a crisis risks creating instability when it can least be afforded. All the same, the Democratic Party could be seen as merely ratifying the candidates it appointed or confirmed last time around.At the chairmen level, new faces abound. Assuming these are Five Star placements, it’s hard to believe there’s no agenda in forcing change. Eni receives a commercial law professor, who is also on the board of the publisher of newspaper Il Fatto Quotidiano. The paper has recently been critical of CEO Claudio Descalzi, who is the subject of litigation relating to corruption allegations. Meanwhile, Enel gets a banking regulation lawyer, who advised the bailed-out Banca Monte dei Paschi di Siena SpA. Over at defense group Leonardo SpA, the new chairman is, sensibly enough, the head of Italy’s foreign intelligence services. But a different board nominee has created controversy over reported ties to foreign affairs minister Luigi di Maio.The acid test is what independent shareholders will make of all this. The Eni appointment sends a message to Descalzi that governance must be taken seriously and that he should not relax even if the litigation against him (which is now concluding) fails. The snag is that the oil industry is facing its biggest operational and strategic challenge in decades, with Brent crude at a lowly $21 per barrel and clean energy an investment imperative. If a crisis of this magnitude isn’t the time to pair Descalzi with an industry veteran, then when is?Over at Enel, outside shareholders will have questions about the strategic implications of installing a new chairman right now. Enel has been under pressure to combine its fiber broadband unit with that of Telecom Italia SpA, to help provide universal internet access — a central Five Star goal. Thus far, CEO Francesco Starace has been cautious about agreeing to a deal. The logic and terms of such a transaction would be a concern to Enel’s non-state investors who own the majority of the group.Of course, the chairman role at Italian state-owned companies is really more administrative than in, say, a U.K. company where the occupant can fire the CEO. At all three of these firms, CEO and chairman alike answer to the state. The government can phone up Starace and dictate aims any time. Besides, finding the perfect chairman or CEO is tough anywhere. The holy grail is someone who has relevant experience, strategic vision and can strengthen the diversity of the board. They don’t exactly grow on trees.But depoliticizing these appointments has to start somewhere. Pandemic bailouts will see more firms taking on the state as a shareholder. If supposedly anti-politics Italy is anything to go by, those holdings will be kept awkwardly close.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Reuters

      South Africa, Turkey CDS surge to highest since financial crisis

      Five-year South Africa credit default swaps rose to a fresh 11-year high of 506 basis points, up from 486 basis points at Thursday's close, according to IHS Markit data. Turkey CDS reached 631 bps, a rise of 15 bps, to the highest point since October 2008, the data showed.

    • Moody's

      Mediocredito Trentino-Alto Adige S.p.A. -- Moody's takes actions on 15 Italian banks

      Rating Action: Moody's takes actions on 15 Italian banks. Global Credit Research- 26 Mar 2020. Virus-related shock drives negative outlooks and reviews for downgrade.

    • Reuters

      Italy's Cerved says talks with Intrum halted due to coronavirus

      Italian financial group Cerved said on Saturday talks to sell its debt collection arm to Europe's biggest loan recovery firm, Intrum, had fallen through due to the coronavirus outbreak that is wrecking Italy's economy. The Italian government expects gross domestic product to shrink by 3% this year after imposing a nationwide lockdown to fight the virus, which has killed more people in Italy than in any other country. Intrum Italy and Cerved entered exclusive talks in mid-February a few days before the emergence of the virus, which has since caused more than 4,000 deaths and infected at least 47,021 people.

    • Reuters

      Italy to allow AGM delays, freezing state-owned firm appointments -source

      Italy is set to approve a measure allowing companies to postpone their annual general meetings due to the coronavirus emergency, in a move that delays appointments at strategic state-controlled firms, a government source told Reuters on Friday. An emergency decree is expected to allow companies to postpone their AGMs by three months, said the source, who asked not to be named because of the sensitivity of the matter. The boards of directors of state-owned groups such as oil giant Eni, utility Enel, defence group Leonardo and bank Monte dei Paschi di Siena come up for renewal in the spring.

    • Bloomberg

      Watch Europe’s Weakest Banks Get Left Behind

      (Bloomberg Opinion) -- The rise of social media has turned the fear of missing out — or FOMO — into a widespread anxiety. Those jitters may now strike parts of Europe’s banking sector with renewed anticipation for a wave of much-needed consolidation.An unsolicited bid by Intesa Sanpaolo SpA for Unione di Banche Italiane SpA on Monday night has triggered hopes of a process that would help Europe’s financial system reduce its excess capacity. It is not yet clear whether the combination will actually go ahead. But the offer raises two important questions. The first is whether any future mergers and acquisitions would proceed purely along national lines, contributing to the balkanization of the euro-area financial industry. The second is whether they would leave out weaker lenders, testing the appetite of increasingly powerless politicians for outright liquidations.The surprise 4.9 billion-euro ($5.3 billion) all-share approach appears to have received an approving nod from the European Central Bank. Roberto Gualtieri, Italy’s finance minister, said he is in principle in favor of deals aimed at consolidating the market. It’s not hard to see why: Changes in consumers’ behavior, competition from nimbler fintech companies and the prolonged era of low-interest rates have put Europe’s banking sector under immense pressure. And while lenders have made enormous progress in dealing with a gigantic mountain of non-performing loans, too few of them have exited the markets, unlike what’s happened in the U.S. What’s more, M&A deals have been far too rare: The Intesa-Ubi deal would be the largest acquisition in Europe in over a decade.Policy makers should hold back on the prosecco, however. For a start, the quest for a significant cross-border merger remains elusive in spite of efforts to create the conditions for that to happen. In the aftermath of the euro zone crisis, member states created a “banking union” to sever the link between a national government and its domestic financial system. The European Central Bank has since taken over as the main banking supervisor in the currency area, and large failing banks are in principle dealt with using a single rule book. However, banks continue to look domestically when they seek to expand, shunning the potential benefit of geographic diversification.It would be easy to blame executives for their lack of vision as they choose to stick to their own backyard. Intesa, with its 11.8 million Italian customers, is doing just that. In 2017, it took over the assets of Veneto Banca SpA and Banca Popolare di Vicenza SpA, two mid-sized Italian lenders, as they entered liquidation. The bank will now further increase its exposure to Italy — a country with an enormous public debt and a near-stagnating economy.However, bankers continue to pursue domestic mergers because they are more likely to produce the kind of cost synergies needed to justify a combination. Add to that the lack of a euro-region-wide joint deposit guarantee scheme, and regulatory uncertainty for deals across national borders, and you can see why the euro zone policy makers also have some soul-searching to do.While they’re searching, they would do well to consider the other unresolved issue in all of this: the future of the region’s weaker banks. Ubi is a comparatively healthy lender, which explains its appeal to Intesa. That should give pause to politicians and regulators, who may be expecting “white knights” to take over the more problematic banks. In the case of Italy, the list includes Monte dei Paschi di Siena SpA, which is currently under state control but should in principle be privatized next year; and Banca Carige SpA and Banca Popolare di Bari SCpa, where successive governments have arranged stopgap solutions involving a mixture of private and public money.The mooted merger between Intesa and Ubi shows that even if a wave of consolidation were to come to Europe, it could simply pass by those in the worst shape. The current EU framework makes it very hard for a government to prop up an ailing lender indefinitely. At some point politicians may have to consider whether some banks may simply have to fail — even if this carries a cost for shareholders and bondholders.Consolidation will not solve all of Europe’s banking problems. Whether they care about the creation of a true “banking union” or simply about the future of troubled lenders, policy makers should worry about those that are likely to miss out — and do something about it.To contact the author of this story: Ferdinando Giugliano at fgiugliano@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Ferdinando Giugliano writes columns on European economics for Bloomberg Opinion. He is also an economics columnist for La Repubblica and was a member of the editorial board of the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Moody's

      Banca Monte dei Paschi di Siena, London -- Moody's announces completion of a periodic review of ratings of Banca Monte dei Paschi di Siena S.p.A.

      Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banca Monte dei Paschi di Siena S.p.A. Paris, February 17, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banca Monte dei Paschi di Siena S.p.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

    • Thomson Reuters StreetEvents

      Edited Transcript of BMPS.MI earnings conference call or presentation 7-Feb-20 11:00am GMT

      Full Year 2019 Banca Monte dei Paschi di Siena SpA Earnings Call

    • Reuters

      UBI expected to extend insurance partnership with Cattolica as M&A looms -sources

      Italy's UBI is set to extend an insurance partnership with Cattolica for a limited time, sources familiar with the matter said, delaying longer-term decisions while it waits to see how consolidation among mid-sized banks plays out. Italy's fifth-largest bank is seen playing a leading role in a new round of M&A between second-tier lenders as they grapple with negative rates, a stagnating economy and a digital revolution in the industry. UBI had been planning to reorganise its insurance operations, valued at 1 billion euros, under a new three-year plan it will unveil next month and had been looking for a new partner.

    • Monte Paschi Offers the Ultimate Comfort Blanket
      Bloomberg

      Monte Paschi Offers the Ultimate Comfort Blanket

      (Bloomberg Opinion) -- The troubled Italian lender Banca Monte dei Paschi di Siena SpA took another big step in its long path to redemption last week by selling subordinated debt for the second time in six months. An 8% coupon is expensive for the world’s oldest bank, but it can hardly complain given its years of troubles.Even though the yield is enticing, investors are still taking a gamble. They will doubtless have been encouraged by expectations that the Italian state will have their backs. Rome owns 68% of Paschi and there’s a fourth bailout on its way for the lender.The general environment for investing in Italian banks is a bit better too. Another lender, Banco BPM SpA, issued some perpetual hybrid debt on Tuesday. Paschi is deeply into junk territory yet it managed to raise a chunky 400 million euros ($444 million). This was one-third bigger than a similar 10-year Tier 2 issue in July, and at a much lower cost than the 10.5% coupon it had to offer then. It was more than twice subscribed and the yield has tightened modestly since launch.Monte Paschi’s debt coordinators showed a fair amount of skill with last week’s sale, amid another record start to bond issuance this year. Only days ago, the bank told shareholders it will have to take a big hit to profit after writing down deferred tax assets.  Still, for Monte Paschi it’s very helpful that the state aid just keeps coming. The bet by bond investors that Rome will keep doing whatever it takes may be a winning one.Reeling from an acquisition that drained it of cash just as markets peaked in 2007, Paschi has had to turn to its government three times already to replenish its capital as losses on bad loans piled up. The last round, in 2017, saw Italy effectively take over the lender while pledging to exit by 2021 under terms agreed with the European Union.The bank has made progress in cleaning up its balance sheet, but a ratio of non-performing loans of about 12.5% targeted for year-end and sluggish revenue render Paschi virtually untouchable for would-be partners. Luckily, as in the past, Italian taxpayers are on hand. Italy is in talks with Brussels to allow state-backed debt manager Amco to buy more than 10 billion euros of Paschi’s soured loans, a move that would reduce its bad debt ratio to below 5%, according to Morgan Stanley analysts.You can never be certain about Monte Paschi, a bank that hid losses with complex derivatives and was found by the European Central Bank to have inadequate governance and financial controls as recently as 2017. But another round of aid might make it look more attractive to rivals. Bond markets clearly find it palatable.To contact the authors of this story: Marcus Ashworth at mashworth4@bloomberg.netElisa Martinuzzi at emartinuzzi@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. He spent three decades in the banking industry, most recently as chief markets strategist at Haitong Securities in London.Elisa Martinuzzi is a Bloomberg Opinion columnist covering finance. She is a former managing editor for European finance at Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Moody's

      Banca Monte dei Paschi di Siena S.p.A. - Mortgage Covered Bonds -- Moody's upgrades Banca Monte dei Paschi di Siena S.p.A. - Mortgage Covered Bonds

      Moody's Investors Service ("Moody's") has upgraded to Aa3 from A1 the ratings assigned to the mortgage covered bonds issued by Banca Monte dei Paschi di Siena S.p.A.'s (the issuer, "MPS", deposits B1; adjusted baseline credit assessment b3; counterparty risk (CR) assessment Ba3(cr). For further information on the rating action taken by Moody's Financial Institutions Group, please refer to Moody's press release http://www.moodys.com/viewresearchdoc.aspx?docid=PR_416402. Moody's determines covered bond ratings using a two-step process: an expected loss analysis and a TPI framework analysis.

    • Moody's

      Banca Monte dei Paschi di Siena S.p.A. -- Moody's upgrades Banca Monte dei Paschi di Siena S.p.A. - Mortgage Covered Bonds

      Moody's Investors Service ("Moody's") has upgraded to Aa3 from A1 the ratings assigned to the mortgage covered bonds issued by Banca Monte dei Paschi di Siena S.p.A.'s (the issuer, "MPS", deposits B1; adjusted baseline credit assessment b3; counterparty risk (CR) assessment Ba3(cr). For further information on the rating action taken by Moody's Financial Institutions Group, please refer to Moody's press release http://www.moodys.com/viewresearchdoc.aspx?docid=PR_416402. Moody's determines covered bond ratings using a two-step process: an expected loss analysis and a TPI framework analysis.

    • Moody's

      Banca Monte dei Paschi di Siena, London -- Moody's changes the outlook on Banca Monte dei Paschi di Siena to positive from negative

      Moody's Investors Service (Moody's) today changed the outlook on the senior unsecured debt and deposit ratings of Banca Monte dei Paschi di Siena S.p.A. (MPS) to positive from negative. Moody's upgraded the bank's standalone Baseline Credit Assessment (BCA) to b3 from caa1, upgraded the subordinated debt rating to Caa1 from Caa2, and affirmed the long-term senior unsecured debt and deposit ratings at Caa1 and B1 respectively. Moody's also upgraded the BCA of MPS Capital Services S.p.A. (MPS Capital Services) to b3 from caa1, reflecting Moody's view that this entity is Highly Integrated and Harmonized (HIH) with MPS and that its standalone characteristics have limited credit significance.

    • What Kind Of Share Price Volatility Should You Expect For Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS)?
      Simply Wall St.

      What Kind Of Share Price Volatility Should You Expect For Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS)?

      If you're interested in Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS), then you might want to consider its beta (a...

    • Thomson Reuters StreetEvents

      Edited Transcript of BMPS.MI earnings conference call or presentation 6-Nov-19 11:00am GMT

      Q3 2019 Banca Monte dei Paschi di Siena SpA Earnings Call

    • Thomson Reuters StreetEvents

      Edited Transcript of BMPS.MI earnings conference call or presentation 1-Aug-19 11:00am GMT

      Half Year 2019 Banca Monte dei Paschi di Siena SpA Earnings Call

    • Moody's

      Siena Lease 2016-2 S.R.L. -- Moody's upgrades the ratings of Class C and D notes in Siena Lease 2016-2 S.R.L.

      Rating Action: Moody's upgrades the ratings of Class C and D notes in Siena Lease 2016-2 S.R.L. This is a cash securitization of lease receivables originated by MPS Leasing & Factoring S.p.A. (fully owned by Banca Monte dei Paschi di Siena S.p.A.) and granted to small and medium sized enterprises and individual entrepreneurs located in Italy. The upgrades are prompted by the increase in the credit enhancement ("CE") available for the affected tranches as a result of portfolio amortization.