Head-To-Head Analysis: First Merchants (NASDAQ:FRME) Versus BANCO DO BRASIL/S (OTCMKTS:BDORY)
Head-To-Head Analysis: First Merchants (NASDAQ:FRME) Versus BANCO DO BRASIL/S (OTCMKTS:BDORY)
BANCO DO BRASIL/S (OTCMKTS:BDORY – Get Rating) and First Merchants (NASDAQ:FRME – Get Rating) are both finance companies, but which is the superior business? We will compare the two businesses based on the strength of their dividends, valuation, risk, profitability, analyst recommendations, earnings and institutional ownership.
Banco do Brasil/S(OTCMKTS：BDORY-GET Rating)和First Merchants(纳斯达克：FRME-GET Rating)都是金融公司，但哪一项业务更优越？我们将根据这两家公司的股息、估值、风险、盈利能力、分析师建议、收益和机构持股情况对它们进行比较。
Insider and Institutional Ownership
内部人与机构持股
72.4% of First Merchants shares are owned by institutional investors. 1.2% of First Merchants shares are owned by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock will outperform the market over the long term.
First Merchants 72.4%的股份由机构投资者持有。First Merchants 1.2%的股份由公司内部人士持有。强大的机构持股表明，对冲基金、大型基金管理公司和捐赠基金相信，一只股票的长期表现将好于大盘。
Profitability
盈利能力
This table compares BANCO DO BRASIL/S and First Merchants' net margins, return on equity and return on assets.
此表比较了Banco do Brasil/S和First Merchants的净利润率、股本回报率和资产回报率。
| Net Margins | Return on Equity | Return on Assets | |
| BANCO DO BRASIL/S | 13.00% | 16.44% | 1.23% |
| First Merchants | 32.28% | 11.04% | 1.31% |
| 净利润率 | 股本回报率 | 资产回报率 | |
| 巴西银行/S | 13.00% | 16.44% | 1.23% |
| 第一商家 | 32.28% | 11.04% | 1.31% |
Analyst Ratings
分析师评级
| Sell Ratings | Hold Ratings | Buy Ratings | Strong Buy Ratings | Rating Score | |
| BANCO DO BRASIL/S | 0 | 0 | 1 | 0 | 3.00 |
| First Merchants | 0 | 0 | 2 | 1 | 3.33 |
| 销售评级 | 保持评级 | 购买评级 | 强劲的买入评级 | 评级分数 | |
| 巴西银行/S | 0 | 0 | 1 | 0 | 3.00 |
| 第一商家 | 0 | 0 | 2 | 1 | 3.33 |
First Merchants has a consensus price target of $47.75, indicating a potential upside of 20.31%. Given First Merchants' stronger consensus rating and higher possible upside, analysts plainly believe First Merchants is more favorable than BANCO DO BRASIL/S.
First Merchants的一致目标价为47.75美元，表明潜在涨幅为20.31%。考虑到First Merchants更强的共识评级和更高的可能上行空间，分析师们显然认为First Merchants比Banco do Brasil/S更有利。
Dividends
分红
BANCO DO BRASIL/S pays an annual dividend of $0.16 per share and has a dividend yield of 2.0%. First Merchants pays an annual dividend of $1.28 per share and has a dividend yield of 3.2%. BANCO DO BRASIL/S pays out 9.9% of its earnings in the form of a dividend. First Merchants pays out 37.5% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. First Merchants has increased its dividend for 12 consecutive years. First Merchants is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.
Banco do Brasil/S的年度股息为每股0.16美元，股息率为2.0%。First Merchants的年度股息为每股1.28美元，股息率为3.2%。Banco do Brasil/S以股息的形式支付收益的9.9%。First Merchants以股息形式支付其收益的37.5%。这两家公司的派息率都很健康，应该能够在未来几年用收益来支付股息。First Merchants连续12年增加股息。考虑到其更高的收益率和更长的股息增长记录，First Merchants显然是更好的股息股票。
Risk and Volatility
风险和波动性
BANCO DO BRASIL/S has a beta of 0.71, suggesting that its stock price is 29% less volatile than the S&P 500. Comparatively, First Merchants has a beta of 1.13, suggesting that its stock price is 13% more volatile than the S&P 500.
Banco do Brasil/S的贝塔系数为0.71，表明其股价的波动性比标准普尔500指数低29%。相比之下，First Merchants的贝塔系数为1.13，这表明其股价的波动性比标准普尔500指数高13%。
Earnings and Valuation
收益和估值
This table compares BANCO DO BRASIL/S and First Merchants' revenue, earnings per share and valuation.
此表比较了Banco do Brasil/S和First Merchants的收入、每股收益和估值。
| Gross Revenue | Price/Sales Ratio | Net Income | Earnings Per Share | Price/Earnings Ratio | |
| BANCO DO BRASIL/S | $24.14 billion | 0.96 | $3.65 billion | $1.61 | 5.04 |
| First Merchants | $555.96 million | 4.25 | $205.53 million | $3.41 | 11.64 |
| 总收入 | 价格/销售额比 | 净收入 | 每股收益 | 市盈率 | |
| 巴西银行/S | 241.4亿美元 | 0.96 | 36.5亿美元 | $1.61 | 5.04 |
| 第一商家 | 5.5596亿美元 | 4.25 | 2.0553亿美元 | $3.41 | 11.64 |
BANCO DO BRASIL/S has higher revenue and earnings than First Merchants. BANCO DO BRASIL/S is trading at a lower price-to-earnings ratio than First Merchants, indicating that it is currently the more affordable of the two stocks.
Banco do Brasil/S的收入和收益高于First Merchants。Banco do Brasil/S的市盈率低于First Merchants，表明它目前是两只股票中更负担得起的一只。
Summary
摘要
First Merchants beats BANCO DO BRASIL/S on 14 of the 18 factors compared between the two stocks.
First Merchants在两只股票比较的18个因素中有14个超过了Banco do Brasil/S。
About BANCO DO BRASIL/S
关于巴西银行/S
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Banco do Brasil S.A. provides banking products and services for individuals, companies, and public sectors in Brazil and internationally. The company's Banking segment offers various products and services, including deposits, loans, and services to retail, wholesale, and public sector markets, as well as to micro-entrepreneurs and the low income population. Its Investments segment engages in the intermediation and distribution of debts in the primary and secondary markets; equity investment activities; and rendering of financial services. The company's Fund Management segment is involved in the purchase, sale, and custody of securities, as well as the management of portfolios, and investment funds and clubs. Its Insurance, Pension and Capitalization segment provides life, property, and automobile insurance products, as well as private pension and capitalization plans. The company's Payment Methods segment is involved in the funding, transmission, processing, and settlement of transactions through electronic means. Its Other segment engages in the provision of credit recovery and consortium administration services; development, manufacturing, leasing, and integration of digital electronic systems and equipment, peripherals, programs, inputs, and computing supplies; intermediation of air tickets; and lodging and organization of events. Banco do Brasil S.A. was founded in 1808 and is headquartered in Brasalia, Brazil.
Banco do Brasil S.A.为巴西和国际的个人、公司和公共部门提供银行产品和服务。该公司的银行部门向零售、批发和公共部门市场以及微型企业家和低收入人群提供各种产品和服务，包括存款、贷款和服务。其投资部门从事一级和二级市场债务的中介和分配；股权投资活动；以及提供金融服务。该公司的基金管理部门涉及证券的购买、销售和托管，以及投资组合、投资基金和俱乐部的管理。其保险、养老金和资本化部门提供人寿保险、财产和汽车保险产品，以及私人养老金和资本化计划。该公司的支付方法部门涉及通过电子手段进行交易的资金、传输、处理和结算。它的其他部门从事提供信贷回收和财团管理服务；开发、制造、租赁和整合数字电子系统和设备、外围设备、程序、投入和计算用品；机票中介；以及活动的住宿和组织。巴西银行成立于1808年，总部设在巴西布拉萨利亚。
About First Merchants
关于第一商家
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First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. It operates 109 banking locations in Indiana, Illinois, Ohio, and Michigan counties. The company also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
First Merchants Corporation是First Merchants Bank的金融控股公司，提供社区银行服务。它接受定期、储蓄和活期存款，并提供消费者、商业、农业企业和房地产抵押贷款，以及公共财政。该公司还提供个人和公司信托；经纪和私人财富管理；以及信用证、回购协议和其他公司服务。它在印第安纳州、伊利诺伊州、俄亥俄州和密歇根县经营着109个银行网点。该公司还通过电子和移动交付渠道提供服务。First Merchants Corporation成立于1893年，总部设在印第安纳州芒西市。
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