European Banks: Hard Work Pays Off
Source: SeekingAlpha
2025-03-22 03:00:00 ET
Summary
- Since bottoming in the fall of 2020, European banks have steadily outperformed the broader European market.
- The total return for the banks still trails the broader European market by more than 100% from the pre-Global Financial Crisis (GFC) high in mid-2007.
- From a valuation perspective, the aggregate European bank price-to-earnings ratio is still trading near historic lows compared to the broader European market and on an absolute basis.
By Dave Gallagher, CFA
The Calamos Global Equities Team believes:
- Overseas equity markets are positioned to harness many tailwinds (including US policy shifts and a sideways-to-weaker dollar ), and European banks should be key beneficiaries.
- Europe’s banks have navigated a long road to recovery, and the macro backdrop is improving.
- Many European bank stocks are positioned for sustained upside, supported by fundamentals and valuations, as well as the potential for a less burdensome regulatory environment.
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European Banks: Hard Work Pays Off
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