银行业:重视优质银行配置性机会

华泰证券
Yesterday

考虑风格均衡、日历效应与红利价值,银行配置性价比有所提升。受资金偏好切换影响,7 月中旬以来银行最大回撤约15%,部分优质银行25E 股息率回到5%以上,随大盘上涨斜率放缓+经济数据基数扰动,Q4 资金或有避险需求,叠加年底日历效应,银行短期胜率有望改善。中期维度,政策层面重视稳息差+预防尾部风险,银行核心业务盈利有望持续改善,资产质量担忧缓释,股息持续性增强对长线资金吸引力。关注险资(I9 切换...

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