FBNH share price declines in reaction to 9-month result amid bullish market
FBNH share price declines in reaction to 9-month result amid bullish market
Following the filing of its consolidated 9 months financial result for the period ended 30th of September 2021, investors have reacted negatively to the decline in key income top and bottom-line items as witnessed in sell-offs in the shares of FBNH Plc.
Except for Net Fees and Commission Income which appreciated by 17.69%, all other key metrics depreciated during the period. At the end of today’s trading session, FBNH Plc share price depreciated by 1.71% to close at N11.50 per share, taking the market capitalization from N419.97 billion to N412.80 billion.
The tier-1 bank, today, recorded a loss in share price which can be attributed to investors’ negative sentiment triggering sell-offs in the shares of the company supporting a loss of N7.18 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
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The shares of the group declined from N11.70 per share at the start of the trading day to N11.50 per share, the lowest price traded at the close of the market, to represent a loss of 1.71% which in monetary terms is N0.20.
The selling pressure witnessed in the shares of FBNH Plc negatively influenced the company’s market capitalization from N419.97 billion to N412.80 billion at the end of today’s trading activities, taking the loss to N7.18 billion.
The shares of FBNH Plc have gained 60.84% from year-to-date, starting the year at N7.15 and currently trading at N11.50. However, the shares of the company have returned about 85.48% gains for investors who bought them at their 52-week low trading price of N6.20 per share.
During today’s trading hours, 364,030,356 ordinary shares of FBNH Plc worth about N4.11 billion, were exchanged in 338 executed deals, making the group’s shares the highest traded in volume and value today.
In comparison, the shares of GTCO, Zenith, and UBA Plc closed positive at N24.15, N24.00 and N7.55 respectively at the end of today’s trading session. While Access Bank Plc remained unchanged to close at N8.70.
At the end of today’s trading activities, the NGX All-Share Index and market capitalization closed flat to appreciate by 0.02% from the previous trading day, to close at 42,018.92 index points and N21.93 trillion respectively.
The NGX Banking Index appreciated by 1.13% to close the day at 380.58 points from 376.34 index points.
Nairametrics
