As Meriz Financial Group recorded its highest ever performance, the stock price is on the rise.
As of 9:52 a.m. on the 20th, Meriz Financial Group is trading at 124,000 won, up 3.85% from the previous day. It even reached 124,400 won early in the session, marking the highest stock price of the year.
On the previous day, Meriz Financial Group announced that its consolidated net profit for last year increased by 9.8% year-on-year to 2.33 trillion won. This marks the second consecutive year achieving the 2 trillion club, a historical high.
Last year, Meriz Financial Group's revenue was 46.57 trillion won, with operating profit at 3.19 trillion won. The return on equity (ROE) is 23.4%, the highest level in the industry.
By major subsidiaries, Meriz Fire's net profit increased by 9.2% from the previous year, totaling 1.71 trillion won. Meriz Securities' operating profit reached 1.05 trillion won, marking a return to the 1 trillion club for the first time in two years.
In the securities industry, analysts are positively forecasting Meriz Financial Group's future stock prices. On this day, Shinhan Investment Corporation raised the target stock price of Meriz Financial Group from 130,000 won to 143,000 won.
Im Hee-yeon, a researcher at Shinhan Investment Corporation, noted, "The reduction of overseas real estate-related revenue securities, which had been a burden on Meriz Financial Group's profits for the past two years, has significantly eased this year, leading to valid expectations for increased profits."
Daishin Securities also raised the target stock price of Meriz Financial Group from 120,000 won to 140,000 won. Park Hye-jin, a researcher at Daishin Securities, said, "Even if Meriz Financial Group's stock price surges beyond a price-to-earnings ratio (PER) of 10 times, considering the policy direction we have consistently emphasized, they are unlikely to reduce their treasury stock enough to shock the market."