Nov 9 (Lagos) -
FCMB has gained 12% over the last five trading sessions.
The stock currently trades at N 1.19, 59%, and has returned 9% year to date.
We note that the Group released a notice of late filing of its 9M’17 financial results amidst an interim audit of the results.
The stock carries a trailing P/E of 1.29 a and EPS of 93 Kobo. Price to Book is 0.13 as well.
However it should be noted that these banks have high NPL ratios and got crushed by the oil price decline over the past 2 years.
Analysts at Vetiva Capial Management Ltd have target price of N 2.93 on
FCMB Plc. For the stock to hit that price, we must have a secular rally in financial stocks which will see almost every bank hit new 2-3 year high price.
reporting for easykobo.com on Thursday, Nov 9 2017 from Lagos, Nigeria