March 19 (Lagos) - After losing 140 bps yesterday,
FIDELITYBK has shed 9% of its value in the last 6 sessions, settling at a price of N 2.11.
The stock has posted a year-to-date loss of 3.94%.
The Bank is yet to release their audited 2018 financial results. The stock movement will largely depend upon the result and the dividend. If the Bank can give dividend yield that can match t-bills yield, we can expect this stock to touch new highs.
On P/E, BVPS analysis the stock seems undervalued. On Technical basis the stock is below 30 day and 90 day moving average but still above the 200 day moving average signalling it could turn around if results are positive.
reporting for easykobo.com on Wednesday, March 19 2019 from Lagos, Nigeria