Abstract
The focus of this research is to determine stocks provide the highest profit (gain opportunity) for investors. Investors will compare opportunities in choosing investment in the banking sector by comparing the combination of long-term growth rates rather than bank fundamentals with stock valuations. The population in this study is banking stocks included in the LQ45 index. The method of data collection uses a sample survey with a purposive sampling technique with the criteria of banking stocks with the largest market capitalization and has a high level of liquidity in trading values, and has consistently been included in the LQ45 index for the last 10 years (2008 to 2017). The number of samples selected were 4 banks consisting of Bank Mandiri (BMRI), Bank BRI (BBRI), Bank BCA (BBCA), and Bank BNI (BBNI). Data collection techniques through documentation, as well as quantitative data sourced from secondary data. Data analysis techniques by comparing the growth of fundamental performance such as Return On Assets (ROA), Return On Equity (ROE), Debt to Equity (DER), Capital Addequacy Ratio (CAR), and Non Performing Loans (NPL). Whereas market performance through Share Price, Earning Per Share (EPS), Price Earning Ratio (PER), Price to Earning Growth (PEG), and Dividend Yield by using compounded annual growth rate (CAGR). Then compare the value of the Margin Of Safety (MOS) Average in stock valuation analysis. The results of this study indicate that the financial performance of Bank BCA (BBCA) is superior to other banks according to DER, CAR and NPL. BRI is the best bank in generating profitability (ROA and ROE) compared to 3 other banks. Meanwhile, according to the stock market performance based on the order of the greatest opportunity level, Bank BNI has the best prospects because it has the largest EPS growth, the lowest stock price valuation, and sufficient MOS value, then ranked below it respectively are Bank Mandiri, Bank BRI, and Bank BCA .Keywords:Financial performance, market performance, and stock value
Highlights
Tandelililin, (2001 : 3) menyatakan bahwa investasi merupakan suatu komitmen atas sejumlah dana atau sumberdaya lainnya yang dilakukan pada saat ini, dengan tujuan untuk memperoleh sejumlah keuntungan di masa yang akan datang
The results indicate that Bank BRI is the most profitable bank based on it Return on Asset (ROA) and Return on Equity (ROE)
Value Investing Using Price Earnings Ratio for Public Sector Bank Stocks in India, Indian Journal ofResearch in Management, Business and Social Sciences,Volume 2, Issue 2, June 2014
Summary
Tandelililin, (2001 : 3) menyatakan bahwa investasi merupakan suatu komitmen atas sejumlah dana atau sumberdaya lainnya yang dilakukan pada saat ini, dengan tujuan untuk memperoleh sejumlah keuntungan di masa yang akan datang. Salah satu informasi yang diperlukan investor dapat diperoleh melalui pendekatan analisis fundamental. Analisis terhadap perusahaan dapat memberikan informasi tentang nilai perusahaan, karakteristik internalnya, kualitas perusahaan dan kinerja manajemen, serta prosepek perusahaan di masa yang akan datang. Berdasarkan penilaian tersebut investor dapat mengetahui apakah saham suatu perusahaan layak dijadikan pilihan investasi, dan untuk membuat keputusan apakah membeli atau menjual saham tersebut. Sebuah keputusan investasi didasarkan pada analisis yang mendalam terhadap kinerja keuangan yaitu melalui analisis laporan keuangan, salah satunya seperti analisis rasio keuangan. Dengan penggabungan strategi BSCORE denganstrategi penilaian relatif berdasarkan pada pendekatan nilai intrinsik, Hasilnya menunjukkan bahwa analisis fundamental dapat memberikan wawasan yang berguna untuk menganalisis bank. Sedangkan Gullin Vardar (2013) meneliti hubungan antara skor efisiensi biaya dan lababank-bank di Negara-negara Eropa Tengah dan Timur serta Turki terhadap harga saham dengan menggunakan model Stochastic Frontier Analysis (SFA). Berdasarkan fakta-fakta tersebut, penelitian ini akan mengungkap performance saham sector perbankan dan menentukan saham yang memiliki prospek terbaik sebagai rekomendasi dalam keputusan berinvestasi
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