|Bid||186.00 x 390000|
|Ask||186.07 x 163000|
|Day's Range||182.65 - 186.30|
|52 Week Range||136.20 - 192.31|
|PE Ratio (TTM)||20.04|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||223.04|
The new U.S. sanctions law threatens to cut off a vital channel for Russia’s funding of its massive defense buildup, according to four people familiar with the situation.
Shares of Sberbank Rossia (SBER.Russia and SBRCY) rose 2.5% in Moscow Wednesday on strong quarterly results. More from Reuters about the quarter: "Russia's largest bank Sberbank reported record profit of 167 billion roubles ($2.97 billion) in the first three months of the year, helped by lower funding and risk management costs as the economy improved ... Sberbank holds around a third of total banking sector deposits in Russia, and is less dependent on more costly central bank financing than other Russian banks. ... Sberbank's first-quarter net earnings slightly exceeded analysts' forecasts for profit of 160 billion roubles and were more than 40 percent higher than the 118 billion roubles it earned in the same period last year." The VanEck Vectors Russia ETF (RSX) was up 0.8% in recent trading.
Russian banking giant Sberbank Rossia (SBRCY) said it would invest 30 billion rubles ($500 million) in an e-commerce selling platform with online search giant Yandex (YNDX). Shares of Sberbank, one of this columnist's top emerging market stock picks for 2017, are up 7% in 2017, and Yandex shares are up 53%. Russia's central bank controls 52% of Sberbank shares, and institutional ownership is relatively low at 7% of the stock, including Vanguard Group's 1.6% stake.