Good bank, less undervalued than UniCredit but still undervalued. It is my biggest bank position in my portfolio.
For me it is very interesting that a big portion of Intesa's earnings come from commissions, which make them less "high interest" dependent than other banks, and less affected by the Italian bank tax, that targets specially the extra eranings coming from higher interests .
Nice dividends, nice earnings, nice growth, good perspective... In general European banking sector is interesting with this interest environment.
@__FunFun__ it depend what you want, if you want re sell then stick to unicredit, if you want dividends then 8% from isp is a steal...uni give 5%. Both are solid banks isp has the most open spot banks of the world(no joke)..even in case of a crysis they can cut cost. Uni cant, they alredy did....uni is blackrock owned tought.....and is likely to buy german stuff in next future.
ISP = high Dividend but thats it - Like BASF, Petro brasil, AT&T etc
UniCredit = good semi Growth Dividend Like Mitsubishi Corp. Etc Not 100% Dividend growth like BlackRock, Waste Management, itocchu… but also Not 100% high Dividend Like basf, AT&T - just a decent middle ground of Dividend and growth
