Goldman Sachs: Raise target price of Bank of East Asia (00023.HK) to 11.8 Hong Kong dollars and also raise profit forecast. Rating is "Sell".

According to the financial news app, Goldman Sachs released a research report stating that, in the first half of the year, earnings of Bank of East Asia (00023.HK) were in line with the bank's estimates, with net interest income and fee income lower than expected but offset by trading gains. Earnings per share exceeded the bank's expectations by 14%. The dividend payout ratio for Bank of East Asia in the first half of the year was 45% (Goldman Sachs estimated 47%), with a mid-year dividend of 39 Hong Kong cents, approximately 10% higher than Goldman Sachs' estimate of 35 Hong Kong cents. Overall, Goldman Sachs raised its earnings forecasts for Bank of East Asia for the fiscal years 2025 to 2027 by 8%, 11%, and 24% respectively, raised the target price by 12% from 10.5 Hong Kong dollars to 11.8 Hong Kong dollars, and rated it as "sell".