B3 · BRL

BGIP3

Banco do Estado de Sergipe SA - Banese

R$48.76-0.18% (-R$0.09)Updated 02/10/2026, 02:52

Day's range: R$48.76 – R$48.76
Day's volume: R$4.9k
52-week range: R$30.50 – R$65.00

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BGIP3 in numbers

Market cap: R$956.7m

P/E: 0.58

P/B: 0.10

Dividend yield (12m): 5.23%

The 12-month dividend yield of BGIP3 is 5.23%, below its 5-year average of 7.51%.

BGIP3 price history

02/10/202501/10/2026

Compare with

BGIP3 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+67.82%	+139.44%	+131.50%
Volatility (annualised)	46.40%	34.77%	32.26%
Largest drawdown	-23.19%	-23.19%	-30.50%
Positive months	7/12	20/36	27/60

How much did investing in BGIP3 return?

Amount invested

R$1,000.00 invested on 01/09/2021 would be worth R$2,315.03 today.

Value today in BGIP3: R$2,315.03

Return over the period: +131.50%

Return per year: +18.28%

In the Ibovespa: R$1,679.06

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

BGIP3 fundamentals

Valuation

P/E
0.58
P/B
0.10
EV/EBITDA
—
EV/EBIT
—
EV/Revenue
0.48
P/EBIT
—
P/S
0.48
P/OCF
-2.23
P/FCF
-0.74
Earnings yield
—
PEG ratio
0.00
Earnings per share
R$83.61
Book value per share
R$485.45

Debt

Net debt
—
Net debt/EBITDA
—
Net debt/Equity
—
Debt/Equity
—
Current ratio
1.08
Quick ratio
0.01
Cash ratio
—

Efficiency

Gross margin
31.92%
EBITDA margin
—
Operating margin
—
Net margin
8.57%
Asset turnover
0.15

Profitability

ROE
17.22%
ROA
1.29%
ROIC
—
Payout
3.05%

Growth

Revenue CAGR (5 years)
25.41%
Earnings CAGR (5 years)
—
Revenue growth (year)
45.28%
Earnings growth (year)
—
Revenue growth (quarter)
28.96%
Earnings growth (quarter)
277.42%

What is BGIP3's fair price?

Two classic value formulas, with today's numbers. The current price is R$48.76.

Graham's fair price: R$955.65; 1,859.90% above the price

√(22.50 × R$83.61 × R$485.45)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: R$37.43; 23.24% below the price

R$2.25 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

BGIP3 indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	5.87	—	—	—	—	—	—	—
P/B	0.98	—	—	—	—	—	—	—
Dividend yield	9.03%	8.82%	12.72%	3.79%	3.17%	1.65%	1.30%	4.27%
Earnings per share	R$6.56	R$0.00	R$0.00	R$0.00	R$0.00	R$0.00	R$0.00	R$0.00
Book value per share	R$39.45	—	—	—	—	—	—	—
ROE	16.64%	—	—	—	—	—	—	—
Gross margin	30.63%	38.64%	36.13%	35.90%	60.08%	71.66%	58.34%	58.89%
Net margin	8.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

BGIP3 financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$1.9bn	R$1.3bn	R$1.2bn	R$1.1bn	R$710.9m	R$634m
Cost of sales	-R$1.3bn	-R$790.4m	-R$778.9m	-R$688.8m	-R$283.8m	-R$179.7m
Gross profit	R$573.3m	R$497.7m	R$440.5m	R$385.7m	R$427.1m	R$454.4m
EBITDA	—	—	—	—	—	—
EBIT	—	—	—	—	—	—
Net finance result	—	—	—	—	—	—
Profit before tax	R$250.8m	R$206.9m	R$56.5m	R$89.8m	R$143.6m	R$80.9m
Income tax	-R$76m	R$0	R$0	R$0	R$0	-R$3.1m
Net income	R$151.5m	R$0	R$0	R$0	R$0	R$0

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

BGIP3 against its sector

The same indicators for the company's other shares and the sector's largest stocks.

Stock	P/E	P/B	Dividend yield (12m)	ROE	Market cap
BGIP3Banese	0.58	0.10	5.23%	17.22%	R$956.7m
ITUB4ITAU UNIBANCO HOLDING S.A.	10.40	2.24	7.17%	21.50%	R$509.4bn
ITUB3ITAU UNIBANCO HOLDING S.A.	11.34	2.44	6.57%	21.50%	R$509.4bn
BPAC3BCO BTG PACTUAL S.A.	15.66	3.48	1.91%	22.20%	R$270.2bn
BPAC5BCO BTG PACTUAL S.A.	12.94	2.87	2.31%	22.20%	R$270.2bn
BBDC4BCO BRADESCO S.A.	7.94	1.09	6.78%	13.66%	R$184.7bn
BBDC3BCO BRADESCO S.A.	6.97	0.95	7.02%	13.66%	R$184.7bn

Does BGIP3 pay dividends?

Dividend yield per year

10.07%2017
4.27%2018
1.30%2019
1.65%2020
3.17%2021
3.79%2022
12.72%2023
8.82%2024
9.03%2025
5.23%2026

Payment history
Type	Last day to own	Payment	Per share
Interest on equity	14/04/2026	28/04/2026	R$0.88
Interest on equity	21/01/2026	06/02/2026	R$0.88
Interest on equity	19/11/2025	03/02/2026	R$0.78
Interest on equity	10/04/2025	25/04/2025	R$0.82
Interest on equity	31/01/2025	06/03/2025	R$0.76
Interest on equity	31/01/2025	06/03/2025	R$1.13
Dividend	31/01/2025	06/03/2025	R$0.76
Interest on equity	19/08/2024	01/10/2024	R$1.15
Interest on equity	28/02/2024	08/03/2024	R$1.05
Interest on equity	17/08/2023	06/09/2023	R$1.19
Interest on equity	23/02/2023	07/03/2023	R$2.24
Interest on equity	24/02/2022	22/03/2022	R$1.00

See all 103 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Interest on equity	18/08/2021	31/08/2021	R$0.31
Interest on equity	03/03/2021	15/03/2021	R$0.82
Dividend	23/07/2020	20/08/2020	R$0.17
Dividend	26/02/2020	09/03/2020	R$0.01
Interest on equity	26/02/2020	09/03/2020	R$0.53
Interest on equity	03/07/2019	15/07/2019	R$0.71
Interest on equity	23/11/2018	05/12/2018	R$0.69
Interest on equity	13/06/2018	25/06/2018	R$0.64
Dividend	06/04/2018	16/04/2018	R$0.24
Interest on equity	17/11/2017	01/12/2017	R$0.71
Dividend	21/08/2017	29/08/2017	R$0.19
Interest on equity	16/06/2017	28/06/2017	R$0.73
Dividend	06/04/2017	18/04/2017	R$1.06
Dividend	03/04/2017	11/04/2017	R$0.52
Interest on equity	22/02/2017	06/03/2017	R$0.62
Dividend	22/02/2017	06/03/2017	R$0.03
Interest on equity	31/08/2016	09/09/2016	R$0.33
Interest on equity	18/11/2015	30/11/2015	R$0.58
Interest on equity	28/08/2015	10/09/2015	R$0.49
Dividend	21/08/2014	01/09/2014	R$0.18
Interest on equity	28/07/2014	06/08/2014	R$0.52
Dividend	26/02/2014	14/03/2014	R$0.19
Interest on equity	27/12/2013	10/01/2014	R$0.53
Dividend	20/08/2013	04/09/2013	R$0.17
Dividend	25/02/2013	05/04/2013	R$0.84
Dividend	25/02/2013	05/04/2013	R$1.89
Interest on equity	29/11/2012	11/12/2012	R$0.50
Dividend	16/08/2012	03/09/2012	R$1.17
Interest on equity	15/06/2012	29/06/2012	R$0.54
Dividend	28/02/2012	12/04/2012	R$2.25
Dividend	28/02/2012	12/04/2012	R$0.94
Dividend	30/08/2011	09/09/2011	R$1.40
Interest on equity	03/06/2011	15/06/2011	R$0.47
Dividend	01/03/2011	14/03/2011	R$1.29
Interest on equity	30/11/2010	07/12/2010	R$0.40
Dividend	30/07/2010	16/08/2010	R$0.18
Interest on equity	30/06/2010	16/07/2010	R$0.39
Dividend	09/03/2010	29/03/2010	R$0.97
Interest on equity	10/11/2009	28/12/2009	R$0.35
Dividend	24/08/2009	15/09/2009	R$0.30
Interest on equity	30/06/2009	16/07/2009	R$0.36
Dividend	16/02/2009	12/03/2009	R$0.42
Interest on equity	26/12/2008	15/01/2009	R$0.30
Interest on equity	11/07/2008	31/07/2008	R$0.30
Dividend	30/04/2008	28/05/2008	R$0.17
Interest on equity	07/02/2008	25/02/2008	R$0.43
Interest on equity	03/07/2013	—	R$0.53
Interest on equity	06/12/2011	—	R$0.48
Interest on equity	28/12/2006	—	R$1.04
Interest on equity	30/11/2006	—	R$1.04
Dividend	17/11/2006	—	R$2.12
Interest on equity	31/10/2006	—	R$1.04
Dividend	17/10/2006	—	R$34.51
Interest on equity	29/09/2006	—	R$1.13
Dividend	18/09/2006	—	R$12.64
Interest on equity	31/08/2006	—	R$1.04
Dividend	15/08/2006	—	R$5.31
Interest on equity	31/07/2006	—	R$1.23
Dividend	21/07/2006	—	R$11.32
Dividend	03/07/2006	—	R$2.77
Interest on equity	30/06/2006	—	R$1.23
Interest on equity	31/05/2006	—	R$1.23
Dividend	17/05/2006	—	R$7.71
Interest on equity	28/04/2006	—	R$1.35
Interest on equity	31/03/2006	—	R$1.35
Dividend	08/03/2006	—	R$5.85
Interest on equity	08/03/2006	—	R$2.70
Dividend	12/12/2005	—	R$12.36
Interest on equity	12/12/2005	—	R$2.37
Interest on equity	30/11/2005	—	R$1.48
Dividend	25/11/2005	—	R$2.06
Interest on equity	31/10/2005	—	R$1.48
Dividend	20/10/2005	—	R$4.79
Interest on equity	30/09/2005	—	R$1.48
Dividend	29/09/2005	—	R$3.18
Interest on equity	31/08/2005	—	R$1.48
Dividend	30/08/2005	—	R$2.83
Dividend	03/08/2005	—	R$1.19
Interest on equity	29/07/2005	—	R$1.48
Interest on equity	30/06/2005	—	R$1.48
Dividend	21/06/2005	—	R$8.91
Interest on equity	31/05/2005	—	R$1.48
Dividend	29/04/2005	—	R$19.28
Interest on equity	29/04/2005	—	R$4.45
Interest on equity	29/04/2005	—	R$1.48
Interest on equity	06/04/2005	—	R$3.83
Interest on equity	02/12/2004	—	R$5.31
Interest on equity	13/08/2004	—	R$9.04
Interest on equity	05/03/2004	—	R$8.77
Interest on equity	29/08/2003	—	R$8.31
Interest on equity	31/03/2003	—	R$12.91

Splits, share consolidations and bonus shares
Event	Last day to own	Ratio
Bonus shares	09/09/2014	45.00% in shares
Split	10/12/2007	20 for 1
Share consolidation	07/12/2007	1 for 50
Split	28/07/1997	5 for 2

About Banese

Sector: Serviços Financeiros
Segment: Bancos
Listing segment: Traditional
Tag along: 80.00%
Free float: 7.92%
Shares issued: 11.54m ordinary · 11.54m preferred
Average daily trading: R$40.1k
Listed since: 26/08/1988
CNPJ: 13.009.717/0001-46

O Banco do Estado de Sergipe S.A. (Banese) é uma instituição financeira de economia mista controlada pelo governo estadual, com atuação concentrada em Sergipe. O banco oferece produtos de varejo, crédito para pessoas físicas e empresas, serviços de pagamentos, cartões e soluções para o setor público local. Sua rede combina agências, correspondentes e canais digitais para atendimento de clientes no estado. Listado na B3 sob BGIP3 e BGIP4, o Banese mantém estratégia regional, com foco em intermediação financeira doméstica e relacionamento com a economia sergipana. O desempenho depende do custo de captação, qualidade da carteira, inadimplência e receitas de serviços financeiros. A instituição também atua por empresas ligadas em cartões e seguros, compondo um ecossistema de serviços que complementa a atividade bancária tradicional no mercado regional.

Investor website

ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Ordinary	Preferred	Total
Governo do Estado de SergipeControlling	95.50%	88.66%	92.08%
Outros	4.50%	11.34%	7.92%

Questions about BGIP3

How much is BGIP3 today?

BGIP3 is at R$48.76 (-0.18% on the day), last traded on 02/10/2026.

How much did BGIP3 pay in dividends in 2025?

BGIP3 paid R$3.47 per share in 2025, a dividend yield of 9.03%.

What are the P/E and P/B of BGIP3?

BGIP3 trades at a P/E of 0.58 and a P/B of 0.10.

How much did BGIP3 return in 12 months?

BGIP3 returned 67.82% in 12 months, with annualised volatility of 46.40% and a largest drawdown of -23.19%.

What sector is BGIP3 in?

Banese is in the Serviços Financeiros sector, Bancos segment.