Analisis fundamental saham bank bumn di bursa efek jakarta

Prakoso, Unggul (2005) Analisis fundamental saham bank bumn di bursa efek jakarta. Masters thesis, Institut Pertanian Bogor.

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Abstract

The purpose of this study was to define an intrinsic value of State Owned Bank’s share at Jakarta Stock Exchange, those are PT Bank Negara Indonesia (Persero) Tbk. (Bank BNI), PT Bank Mandiri (Persero) Tbk. (Bank Mandiri), and PT Bank Rakyat Indonesia (Persero) Tbk. (Bank BRI). The other purpose of this study was also to define implication to bank’s managerial and implication to decision of the investors according to variation between intrinsic value and market price. The data were collected on the historical financial statement, public expose, Jakarta Stock Exchange and Bank Indonesia. Present Value of Cash Flow Models and Relative Valuation Models were used to analyze data. Ratio Analysis and Business Environment were also used to analyze the fundamental of the Banks. The results of study showed that market price of Bank BRI and Bank BNI are undervalued than their intrinsic value, but the market price of Bank Mandiri is overvalued than its intrinsic value. This study suggested to management of the Bank Mandiri to improve pofitability of the bank, so its intrinsic value approach to its market price. For management of Bank BRI and Bank BNI should keep and communicate their profitability. This study also suggested to investors to buy share under its intrinsic value.

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