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Bank of Communications Co
(3328)
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Rating:70Neutral
Price Target:
HK$9.50
â–²(25.50% Upside)
Action:Downgraded
Date:10/31/26
The score is driven primarily by solid but risk-tempered fundamentals: steady profitability is offset by higher recent leverage and historically volatile cash-flow consistency. Technicals add support with an uptrend above key moving averages and moderate momentum, while valuation is a key positive due to the low P/E and strong dividend yield.
Positive Factors
Resilient Profitability
Profitability has remained resilient, with margins near 19% and net income broadly stable across recent periods. This consistency supports the bank’s ability to absorb normal credit and economic fluctuations while continuing to fund operations and maintain its competitive position.
Negative Factors
Elevated Leverage
The marked step-up in leverage increases sensitivity to tighter credit conditions and weakens balance-sheet flexibility relative to earlier periods. Higher leverage can constrain future capital allocation and make earnings and equity returns more vulnerable if asset quality or funding conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient Profitability
Profitability has remained resilient, with margins near 19% and net income broadly stable across recent periods. This consistency supports the bank’s ability to absorb normal credit and economic fluctuations while continuing to fund operations and maintain its competitive position.
Read all positive factors
Bank of Communications Co (3328) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$840.08B
Dividend Yield4.27%
Average Volume (3M)25.56M
Price to Earnings (P/E)8.0
Beta (1Y)0.51
Revenue Growth-0.80%
EPS Growth-9.37%
CountryHK
Employees97,932
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)1.11
Shares Outstanding35,011,863,000
10 Day Avg. Volume29,287,096
30 Day Avg. Volume25,558,840
Financial Highlights & Ratios
PEG Ratio-0.63
Price to Book (P/B)0.40
Price to Sales (P/S)0.95
P/FCF Ratio5.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$8.50Price Target Upside12.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.07
Revenue Forecast (FY)HK$282.31B
Bank of Communications Co Business Overview & Revenue Model
Company Description
Bank of Communications Co., Ltd. (BoCom) operates as a commercial bank, offering a broad spectrum of financial products and services. For individual clients, BoCom delivers a suite of personal banking solutions. These include diverse deposit optio...
Bank of Communications Co Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 431.53B | 498.85B | 207.03B | 200.62B | 196.38B | 202.74B |
| Gross Profit | 255.13B | 206.28B | 207.03B | 200.62B | 196.38B | 202.74B |
| EBITDA | 119.31B | 120.61B | 122.85B | 8.75B | 114.27B | 108.80B |
| Net Income | 99.56B | 93.15B | 93.59B | 92.73B | 92.10B | 87.58B |
Balance Sheet | ||||||
| Total Assets | 16.47T | 15.56T | 14.90T | 14.06T | 12.99T | 11.67T |
| Cash, Cash Equivalents and Short-Term Investments | 756.10B | 702.15B | 1.44T | 1.56T | 1.44T | 1.29T |
| Total Debt | 3.45T | 4.66T | 641.92B | 1.07T | 955.47B | 970.54B |
| Total Liabilities | 15.22T | 14.27T | 13.75T | 12.96T | 11.96T | 10.69T |
| Stockholders Equity | 1.23T | 1.19T | 1.14T | 1.09T | 1.02T | 964.65B |
Cash Flow | ||||||
| Free Cash Flow | 393.15B | 80.60B | -99.52B | 89.73B | 336.57B | -57.72B |
| Operating Cash Flow | 438.30B | 120.04B | -57.35B | 137.32B | 368.22B | -34.77B |
| Investing Cash Flow | -509.84B | -747.26B | -98.09B | -116.62B | -284.90B | -75.55B |
| Financing Cash Flow | -123.95B | 593.05B | 42.52B | 4.89B | -32.98B | 1.31B |
Bank of Communications Co Technical Analysis
Positive
7.57
Price Trends
8.11
Positive
7.62
Positive
7.20
Positive
Market Momentum
0.07
Positive
58.64
Neutral
61.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3328, the sentiment is Positive. The current price of 7.57 is below the 20-day moving average (MA) of 8.39, below the 50-day MA of 8.11, and above the 200-day MA of 7.20, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 58.64 is Neutral, neither overbought nor oversold. The STOCH value of 61.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3328.
Bank of Communications Co Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$1.31T | 7.46 | 12.33% | 4.16% | -0.16% | 5.69% | |
74 Outperform | HK$2.45T | 8.65 | 8.41% | 4.16% | 2.02% | 1.80% | |
71 Outperform | HK$3.03T | 9.01 | 9.73% | 4.35% | 4.19% | 7.85% | |
71 Outperform | HK$3.47T | 8.58 | 9.18% | 4.71% | ― | ― | |
70 Outperform | HK$2.77T | 9.15 | 9.62% | 4.28% | 2.44% | 5.10% | |
70 Neutral | HK$840.08B | 7.99 | 8.14% | 4.27% | -0.80% | -9.37% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
HK:3328
Bank of Communications Co
8.60
2.07
31.74%
HK:1288
Agricultural Bank of China
6.94
1.43
25.86%
HK:3988
Bank of China
6.15
1.97
47.36%
HK:0939
China Construction Bank
10.26
2.97
40.78%
HK:3968
China Merchants Bank Co
54.55
8.21
17.72%
HK:1398
Industrial and Commercial Bank of China
7.90
2.32
41.59%
Bank of Communications Co Corporate Events
Bank of Communications Posts Strong Profit and Asset Growth in Third Quarter 2026
Oct 30, 2026
Bank of Communications Co., Ltd., a leading Chinese joint stock commercial bank listed in both Shanghai and Hong Kong, reported its unaudited financial results for the nine months ended 30 September 2026. The group operates across a wide spectrum ...
Bank of Communications Gains Regulatory Approval for New Independent Director
Oct 23, 2026
Bank of Communications Co., Ltd. has received regulatory approval from the National Financial Regulatory Administration for the qualification of Ms. Pan Yanhong to serve as an independent non-executive director. Following this approval, Ms. Pan ha...
Bank of Communications Details Board and Committee Structure
Oct 23, 2026
Bank of Communications Co is a major joint stock commercial bank incorporated in the People’s Republic of China, listed under stock code 03328. It provides a broad range of banking and financial services to corporate and retail clients and o...
Bank of Communications Schedules Board Meeting to Review Nine-Month Results
Oct 20, 2026
Bank of Communications Co., Ltd. has announced that its board of directors will convene on 30 October 2026 to review and approve the unaudited consolidated quarterly results for the nine months ended 30 September 2026. The scheduled meeting signal...
Bank of Communications Secures Regulatory Approval for New Independent Director
Oct 20, 2026
Bank of Communications has received regulatory approval from China’s National Financial Regulatory Administration for the qualification of Jin Panshi to serve as an independent non-executive director. Following this approval, Jin has formall...
Bank of Communications Details Board and Committee Structure
Oct 20, 2026
Bank of Communications Co., a leading Chinese commercial bank listed in Hong Kong, continues to strengthen its governance framework through a diverse mix of executive, non-executive, and independent non-executive directors. The board oversees key ...
Bank of Communications Fully Redeems RMB30 Billion 2021 Tier 2 Capital Bonds
Sep 28, 2026
Bank of Communications Co., Ltd. has fully exercised its issuer redemption right on its RMB30 billion 10-year Tier 2 capital bonds issued in 2021 in the China Interbank Bond Market. The bank redeemed the bonds in full at par value on the first cal...
Bank of Communications Sets New 2.77% Coupon on RMB45 Billion Preference Shares
Sep 2, 2026
Bank of Communications Co., Ltd., a leading Chinese commercial bank listed in Hong Kong, finances its operations partly through RMB-denominated non-cumulative perpetual domestic preference shares. These instruments, aimed at the mainland market, f...
Bank of Communications Sets Dividend for Domestic Preference Shares
Aug 31, 2026
Bank of Communications Co., Ltd. has approved the dividend distribution plan for its RMB45 billion non-cumulative perpetual domestic preference shares, known as BOCOM PREF1, with a board resolution passed on 28 August 2026. The move underscores th...
Bank of Communications Proposes Interim Dividend for First Half of 2026
Aug 28, 2026
Bank of Communications Co., Ltd., one of China’s leading commercial banks with shares listed on the Hong Kong Stock Exchange, has announced a proposed interim ordinary cash dividend of RMB 0.168 per share for the six months ended 30 June 202...
Bank of Communications Proposes Governance Changes to Articles of Association
Aug 28, 2026
Bank of Communications Co., Ltd. has announced that its board of directors resolved on 28 August 2026 to propose amendments to the bank’s articles of association. The board also seeks authorization from the general meeting to empower the boa...
Bank of Communications Proposes RMB14.8 Billion Interim Dividend for 2026
Aug 28, 2026
Bank of Communications Co., Ltd. has approved a 2026 interim profit distribution plan that includes a cash dividend of RMB0.168 per ordinary share, based on 88,363,784,223 shares, for a total payout of about RMB14.845 billion. The plan, which excl...
Bank of Communications posts higher profit and stronger capital in 2026 interim results
Aug 28, 2026
Bank of Communications Co., Ltd. reported solid interim results for the six months ended 30 June 2026, with total assets rising 4.58% to RMB16.26 trillion and customer deposits growing 6.53%, underscoring ongoing balance-sheet expansion. Loans and...
Bank of Communications Schedules Webcast Briefing for 2026 Interim Results
Aug 19, 2026
Bank of Communications Co., Ltd., one of China’s leading joint stock commercial banks listed in Hong Kong, serves retail and corporate customers with comprehensive financial and banking services. Its governance structure includes executive, ...
Bank of Communications Sets Board Meeting to Review Interim Results and Possible Dividend
Aug 18, 2026
Bank of Communications Co., Ltd. has scheduled a board meeting for 28 August 2026 to review and approve the interim financial results of the bank and its subsidiaries for the six months ended 30 June 2026. The board will also consider the declarat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.