中信证券：银行股下半年绝对收益空间广阔

中证金牛座06-26

　　中信证券研报表示，在经历年初以来的资金大幅流出后，测算当前银行A股平均静态股息率约4.3%，部分大市值标的股息率在5%以上，平均静态PB为0.60x。展望2026年至2027年，银行板块步入风险周期尾部区间，ROE一阶导已经改善，预计今明两年行业ROE绝对数将企稳在8%至9%区间，助力板块估值提升。今年下半年有望演绎“高确定性权益资产”重估，绝对收益空间大。个股方面，推荐商业模型优秀、权益回报乐观、步入稳定增长周期的标的。

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