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Union Bank of the Philippines, Inc.
#31
Union Bank sets aggressive expansion for City Savings
By Donnabelle L. Gatdula | Updated January 20, 2013 - 12:00am
Union Bank of the Philippines plans to aggressively expand the network of City Savings Bank in Luzon, a top bank official said.

http://www.philstar.com/business/2013/01...ty-savings
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#32
UBP - UNION BANK OF THE PHILIPPINES

LAST TRADE PRICE = PHP 121.9000
LAST TRADE DATE: 02/08/13


P/E RATIO TEST:

2009 Earnings-per-share = PHP 6.7400
2010 Earnings-per-share = PHP 8.3500
2011 Earnings-per-share = PHP 10.2800
2012 Interim Earnings-per-share (9 months ending September 2012) = PHP 13.1300

Average earnings-per-share (based on the past 3 years and 3 quarters) = PHP 10.7192
Average price earnings ratio (based on the past 3 years and 3 quarters) = 11.37

Result of Graham's price-earnings ratio test: PASSED
Benjamin Graham recommends current price no more than 15 times average earnings.
However, P/E <15 should be taken as an arbitrary value. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.


PRICE-TO-BOOK RATIO TEST:

Total Equity = PHP 46,581,384,000
Outstanding Shares = 641,422,420
Book-Value per Share = 72.62
Price-to-Book ratio (PB) = 1.68

Result of Graham's price-to-book ratio test: FAILED
Graham recommends that current price should not be more than 1.5 times the book value last reported.
However, P/B <1.5 should be taken as an arbitrary value. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.

Moreover, average earnings to book ratio (similar to return on equity) = 14.76%
Moreover, total liabilities is greater than equity.
Total liabilities to equity ratio = 3.89
This company is relatively highly leveraged.


GRAHAM'S "BLENDED MULTIPLIER" TEST:

P/E = 11.37
P/B = 1.68
P/E*P/B = 19.09

Result of Graham's "blended multiplier" test: PASSED
Graham suggests that the product of P/E and P/B should not exceed 22.5.
However, P/E*P/B <22.5 should be taken as an arbitrary value. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.


LIMITATION OF ANALYSIS:

1. EPS calculation does not isolate "extra-ordinary income".
2. Analysis does not cover earnings stability, dividend records, earnings growth and futures earnings (or forward P/E ratio).
3. For future plans and prospects, read below reference.


REFERENCE:

http://www.pse.com.ph/resource/corpt/201...ep2012.pdf
http://www.pse.com.ph/resource/corpt/201...ec2011.pdf


DISCLAIMER:

The content of this material is for informational, educational and discussion purposes only.

The author/ writer is not a professional or registered investment adviser and as such nothing in this material should be considered as investment advice or a recommendation to buy, sell or hold an equity.

The opinions/ analysis expressed in this material are written in good faith, but absolutely no representation or warranty, expressed or implied, is made as to their accuracy or completeness.

This material may contain significant errors or significant omissions. The author's/ writer's investment thesis could be significantly flawed or his/ her assumptions could be significantly inaccurate or maybe disregarding certain significant risks. The author/ writer hereby expressly disclaims any responsibility for error, omission or inaccuracy in the information, misinterpretation and any all loss, disappointment, negligence or damage caused by reliance on this information.

All information should be independently verified. Investors should always perform their own due diligence when investing. The author/ writer shall not be responsible or liable for any trading or investment decisions made based on this information. Readers are solely responsible for their own investment decisions.
If You're So Smart, Why Aren't You Rich? - BATMAN The Animated Series: Season 1, Episode 41
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#33
Closed at 126.20. 52 week high at 127.
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#34
slowly but steady.. sana mag 52-week high! Smile
Website: http://www.tradertactics.wordpress.com
Twitter: @TraderTactics
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#35
Closed @ 130.60.. 52 week high @ 131.. Steady as she goes..
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#36
Steady pagong din si UBP.. Closed @134.30.. Go UBP!bananabananabanana
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#37
Wow UBP! 140 ka na.. Just off 52 week high.. Go go go!banana
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#38
Dito tayo shoegazer! Abang-abang lang! Lumalakas!
If You're So Smart, Why Aren't You Rich? - BATMAN The Animated Series: Season 1, Episode 41
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#39
Lumabas na yata sa filter mo ito manong BASURERO. Thanks for the heads up.
“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”
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#40
http://www.tradingphoenix.net/2014/02/16...-bank-ubp/
Technicals + Fundamentals is the way forward.

My favorites
Fundamental Analysis: http://fundamentalenthusiast.wordpress.com
Technical Analysis: http://www.tradingphoenix.net
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