Bank Pembangunan Daerah Jawa Barat dan Banten Tbk

bjbr

Overview

BJBR Overview

PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk is an Indonesia-based company that is primarily engaged in banking sector. The Company is engaged in offering products and services, including savings, loans and services. The Company offers a range of savings, including Giro, Business Product Simulation and Storage area. It offers loans, including Small and Medium Business Loan, bjb Credit to Financing Institutions, bjb Receivable Financing, bjb Distributor Financing, Kredit Cash Collateral, Regional Loans, Warehouse Receipt Subsidy Scheme (SSRG), Credit to Cooperatives, Credit to ACA, bjb Short Term Credit, bjb Supply Chain Financing, bjb Working Capital Credit and bjb Investment Credit. The Company’s services include Internet Banking Corporate, Treasury, Trade Finance and Service, bjb Remittance, bjb Cash Management Service, bjb Bank Guarantee and Bank Financial Support. It also offers investment and insurance, and e-banking products and services.

5101520ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BJBR

Main
Market Cap.
IDR 12.57Trillion

~$0.79B USD

Industry
Banks
Sub-Industry
Banks
Sector
Financials
Sub-Sector

Valuation

BJBR Valuation Metrics

1,195

IDR
0.0%

Closing Price on 2024-04-18

Price to Equity

6.60

P/E

At 6.60x P/E TTM, BJBR.JK is trading at a discount to its peers in the Banks sector.

Price to Book

0.84

P/B

At 0.84x P/B TTM, BJBR.JK is trading in line with its peers in the Banks sector.

Price to Sales

1.42

P/S

At 1.42x P/S TTM, BJBR.JK is trading at a discount to its peers in the Banks sector.

Valuing Bank Pembangunan Daerah Jawa Barat dan Banten Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Banks sector

Historical Price to Earnings

Other Valuation Metrics

Valuing Bank Pembangunan Daerah Jawa Barat dan Banten Tbk relative to other stocks in the Banks sector

Price/Cash Flow
7.85x
Price/Forward Earnings
5.83x
PEG Ratio
-0.45x

Analyst Ratings

40
60
80
0
100

75.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR1,1952024-04-18
IDR 2,390.11

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BJBR is IDR2,390, which is 101% higher than BJBR's last closing price of IDR1,195 (as of 2024-04-18).

Valuation Recap of BJBR stock
WeightNotesScore
High
The P/E ratio is calculated by dividing the market price of a company's stock by its earnings per share (EPS). It is a key tool for investors and analysts to assess whether a stock is overvalued, undervalued, or fairly valued. A P/E ratio of 6.60x is below the ID market average of 8.46x and is trading at a discount to peers in the Banks sector (13.24x).

High
The P/B ratio is calculated by dividing the market price of a company's stock by its book value per share (BVPS). It measures the company's stock value relative to its assets minus liabilities. A P/B ratio of 0.84x is similar to the peers average of 0.84x in the Banks sector.

Medium
The P/S ratio is calculated by dividing the market price of a company's stock by its sales per share. It measures the company's stock value relative to its sales. A P/S ratio of 1.42x is below the peers average of 3.43x in the Banks sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BJBR's valuation relative to its current sales and future earnings growth. BJBR trades at a Forward P/E ratio of 5.83x, which is considered fairly undervalued by analysts.

Low
The Price/Cash Flow ratio (P/CF) is calculated by dividing the market price of a company's stock by its cash flow per share. It measures the company's stock value relative to its cash flow, and is sometimes said to be a more objective measure of a company's value because cash flows cannot be manipulated as easily as earnings, which considers non-cash items such as depreciation and amortization. BJBR's P/CF ratio of 7.85x is considered healthy by analysts.

Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BJBR is IDR 2,390.11, which is 101% higher than BJBR's last closing price of IDR 1,195.00.

Peers

BJBR Peers and Comparison

Peer Companies

Supertype Fuzzy Search
SymbolCompany Name
Market Cap
(in Trillion IDR)
Total Assets
(in Trillion IDR)
Total Revenue
(in Trillion IDR)
Profit and Loss
(in Trillion IDR)
P/E
P/B
BBCAPT Bank Central Asia Tbk.1,168.03T1,381.45T 98.47T 48.20T 24.234.95
BBRIPT Bank Rakyat Indonesia (Persero) Tbk825.58T1,851.96T 175.51T 56.01T 14.742.69
BMRIPT Bank Mandiri (Persero) Tbk634.67T2,007.16T 135.73T 49.58T 12.802.61
BBNIPT Bank Negara Indonesia (Persero) Tbk197.25T1,086.66T 61.51T 20.91T 9.431.31
BRISPT Bank Syariah Indonesia Tbk119.94T319.85T 19.34T 5.26T 22.823.23
SMMAPT Sinar Mas Multiartha Tbk92.97T106.59T 28.35T 1.10T 84.384.30
DNETPT Indoritel Makmur Internasional Tbk.65.53T20.71T 1.39T 0.72T 90.885.11
MEGABank Mega Tbk60.47T132.12T 7.81T 3.51T 17.222.78
BNGAPT Bank CIMB Niaga Tbk50.38T329.13T 18.53T 6.10T 8.261.07
BNLIBank Permata Tbk34.91T251.94T 11.63T 1.91T 18.270.89
Competitiveness Recap of BJBR stock
WeightNotesScore
High
At a market cap of IDR 12,573.07 billion, BJBR.JK ranks 10 in Market Cap out of 10 companies in the Financials sector.

High
At a PE of 6.60, BJBR.JK ranks 10 out of 10 companies in the Financials sector for P/E value. The average PE is 29.14 (unadjusted). A high P/E ratio often indicates higher growth expectation, or other qualitative factors that led investors to believe that the company has a defensible competitive advantage compared to its peers in Financials. In this regard, it trails behind sector leaders such as PT Indoritel Makmur Internasional Tbk. (90.88) in the Financials sector.

Medium
At a PE of 6.60, BJBR.JK is trading at a lower PE than that of its subsector peers in Banks (median of 13.24). A lower P/E value presents a potential value opportunity, but it might also indicate that the company is facing headwinds in its business.

Medium
At a revenue of IDR 8.85 trillion, BJBR.JK ranks 8 in Revenue out of 10 companies in the Financials sector.

Medium
At a profit of IDR 1.91 trillion, BJBR.JK ranks 8 in Profit out of 10 companies in the Financials sector.

Future

Future Growth of BJBR

Growth Forecasts

BJBR 2024 Revenue Growth
+5.8%
BJBR 2024 EPS Growth
-6.4%
Sector Revenue Growth
+14.6%
Banks
Indonesia Market Growth
+7.6%
IDX overall growth
Banks Sector Revenue Growth '24
+33.5%
Financials Sector Revenue Growth '24
+34.1%

Sector Benchmark

Banks companies in Indonesia are growing at a projected rate of 14.60% against the IDX average of +7.6%.

Banks sector overview

BJBR Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BJBR
WeightNotesScore
High
BJBR's projected growth rate of 14.60% is above the ID market average of 7.62%.

High
The Banks sub-sector is projected to grow revenue by 33.55% in 2024. This number is higher than the previous year 2023's growth rate of 13.79%. This bodes well for BJBR's revenue growth prospects in the next 2 years.

Medium
The Banks sub-sector is projected to increase earnings by 72.75% in 2024. This number is higher than the previous year 2023's EPS growth of 33.02%. This bodes well for BJBR's earnings growth prospects in the next 2 years.

Medium
BJBR and its peers in the Banks sub-sector belongs to the Financials sector. Companies in the Financials sector are projected to have a fruitful year heading into 2024. Specifically, earnings are projected to increase by 72.75% in 2024 while revenue growth is projected to increase by 34.06%. These macroeconomic trends will likely be a tailwind for BJBR's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Yuddy Renaldi15.2 years
Tedi Setiawan
Director
Rio Lanasier
Director
Nia Kania
Director
Suartini
Director
Nancy Adistyasari
Director
Cecep Trisna
Director
NamePositionShares%
Cecep TrisnaDirector456,911< 0.01
Nancy AdistyasariDirector715,643< 0.01
Nia KaniaDirector1,968,4910.02
Rio LanasierDirector1,228,202< 0.01
Setiawan WangsaatmajaCommissioner54,420< 0.01
SuartiniDirector1,754,6910.02
Tedi SetiawanDirector1,228,1920.02
Yuddy RenaldiPresident Director1,864,1370.02
Expressed in millions IDR, unless otherwise stated

Ownership

BJBR Ownership

Others
12.68%
Insiders
83.13%
Institutions
4.19%
NameNumber of SharesOwnership (%)Value
Pemda Provinsi Jawa Barat4,053,172,59538.524,843.54B
Pemda Se-Jawa Barat Dan Banten3,133,499,54729.783,744.53B
Public (Scripless)2,563,579,66824.373,063.48B
Pemda Kabupaten Bandung761,921,1897.24910.50B
Yuddy Renaldi1,864,1370.022.23B
Nia Kania1,968,4910.022.35B
Suartini1,754,6910.022.10B
Tedi Setiawan1,228,1920.021.47B
Rio Lanasier1,228,2020.011.47B
Nancy Adistyasari715,6430.010.86B

Largest Institutional Buy

State Street Global Advisors
Bought 31-01-2024
+1,180,410 shares
Acadian Asset Management LLC
Bought 31-01-2024
+502,920 shares
Daiwa Asset Management (Singapore) Ltd.
Bought 31-01-2024
+104,039 shares

Largest Institutional Sell

Globeflex Capital LP (California)
Sold 31-01-2024
-11,078,300 shares
Danske Bank Asset Management
Sold 31-01-2024
-3,383,958 shares
Trustus Capital Management BV
Sold 31-01-2024
-2,550,000 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BJBR stock