CaixaBank tops 100 billion euros in stock market value for the first time
Its strong climb drives up the valuation of the 18% stake in the hands of the state and inherited from Bankia to €16.8 billion. CaixaBank is trading at multiples similar to those of JPMorgan, the largest Wall Street bank.
CaixaBank's shares have risen 27% since January, bringing its market capitalization to nearly 100 billion euros. The bank's price-to-book ratio is 2.40, similar to that of JPMorgan. CaixaBank has a strong presence in Spain, with market shares over 25% in high-commission businesses such as insurance and investment funds. Analysts recommend buying or holding the stock, with price targets ranging from 14.20 to 14.70 euros.
The Spanish state's 18.1% stake in CaixaBank is valued at around 16.8 billion euros, a crucial factor in recovering public aid injected during the 2008 crisis.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
