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Banco Invest, S.A. – equity valuation

Bibliographic Details
Main Author: Dória, Maria Teresa Saraiva de Aragão da Silva
Publication Date: 2021
Format: Master thesis
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10362/115436
Summary: Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and Management
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spelling Banco Invest, S.A. – equity valuationFinancial InstitutionsBanco Invest SAFinancial Firm ValuationFree Cash Flow to Equity (FCFE)Intrinsic ValueDissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and ManagementBanco Invest S.A. (or “Banco Invest”) is an anonymous society based in Lisbon and six branches in Portugal: Lisbon, Porto, Leiria and Braga. The Bank initiated its activity as Banco Alves Ribeiro S.A. in 1997. However, in order to unequivocally reflect its mission, there was a change in the bank’s name to Banco Invest. This mission is essentially to be recognized by the market as the financial institution that best meets the needs of customers, individuals, companies or institutions, in all financial products available, proposing solutions that traditional retail banking, with a more standardized offer, is not designed to offer. Banco Invest specializes in managing savings and investments of its private, corporate and institutional clients, offering an open and independent structure, with a global and diversified set of products and services. Therefore, one of the goals of this thesis is to better understand how private and investment banking has been playing in the financial institution’s markets through the years. During the last decades, diverse mechanisms of business valuation models were created. These valuation methods aim to achieve with the greatest degree of accuracy, the intrinsic value of a financial institution. Generally, there is no right answer to the problem of valuation of companies. After all these years, there are no specific assumptions to be made neither what are the most suitable methods to follow. Throughout this dissertation, the main purpose is to identify and study different methodologies such as: (i) discounted cash flows, (ii) relative valuation, (iii) liquidation and accounting valuation and also (iv) contingent claim valuation, in order to achieve a final price per share that can be compared to the one offered by Banco Invest and bring another perspective to this matter. I will intend to value the Banco Invest SA as of 31st of December of 2019, the last revised Annual Report available, and compare it to the final price per share offered by the market. The forecasts will be estimate for the following 4 years (2020-2023). At 31-12-2019 Banco Invest was slightly undervalued, the market price was € 5,00 and the target price calculated was € 5,46, our recommendation is to "Buy".Bravo, Jorge Miguel VenturaRUNDória, Maria Teresa Saraiva de Aragão da Silva2021-04-13T14:05:15Z2021-03-292021-03-29T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/115436TID:202695476enginfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-22T17:51:47Zoai:run.unl.pt:10362/115436Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T17:22:50.572234Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Banco Invest, S.A. – equity valuation
title Banco Invest, S.A. – equity valuation
spellingShingle Banco Invest, S.A. – equity valuation
Dória, Maria Teresa Saraiva de Aragão da Silva
Financial Institutions
Banco Invest SA
Financial Firm Valuation
Free Cash Flow to Equity (FCFE)
Intrinsic Value
title_short Banco Invest, S.A. – equity valuation
title_full Banco Invest, S.A. – equity valuation
title_fullStr Banco Invest, S.A. – equity valuation
title_full_unstemmed Banco Invest, S.A. – equity valuation
title_sort Banco Invest, S.A. – equity valuation
author Dória, Maria Teresa Saraiva de Aragão da Silva
author_facet Dória, Maria Teresa Saraiva de Aragão da Silva
author_role author
dc.contributor.none.fl_str_mv Bravo, Jorge Miguel Ventura
RUN
dc.contributor.author.fl_str_mv Dória, Maria Teresa Saraiva de Aragão da Silva
dc.subject.por.fl_str_mv Financial Institutions
Banco Invest SA
Financial Firm Valuation
Free Cash Flow to Equity (FCFE)
Intrinsic Value
topic Financial Institutions
Banco Invest SA
Financial Firm Valuation
Free Cash Flow to Equity (FCFE)
Intrinsic Value
description Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and Management
publishDate 2021
dc.date.none.fl_str_mv 2021-04-13T14:05:15Z
2021-03-29
2021-03-29T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/115436
TID:202695476
url http://hdl.handle.net/10362/115436
identifier_str_mv TID:202695476
dc.language.iso.fl_str_mv eng
language eng
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eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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