United Securities Tweaks Alinma Bank's Rating, Price Target After Q2 Earnings

05:01 AM EDT, 08/11/2026 (MT Newswires) -- United Securities LLC revised the price target and rating on Alinma Bank (SASE:1150) as it took note of the lender's "weaker-than-expected performance" in the second quarter. The bank recorded a 6% yearly increase in operating income to 3.1 billion Saudi riyals, which was below United Securities' estimates by 6%. Net income also missed the research firm's forecast by 6%, according to a Monday note. "Alinma's 2Q26 results were below our estimates at both the operating income and net income levels, driven by weaker non-interest income and higher provisions, respectively. In addition, management increased its cost-of-risk guidance by 10bps to 0.45-0.55%, which is likely to weigh on the pace of net income growth in the near term. We have accordingly revised our rating to HOLD and reduced our target price to SAR 26/share," analysts wrote.