Wema Bank stock gains 340% in six months
The NGX Banking index is designed to provide an investable benchmark to capture the performance of the banking sector, which comprises the most capitalised and liquid companies in banking. The NGX Banking Index comprises 10 companies.
As of close of business on June 17, 2022, the NGXASI YtD return dipped by 14.03 per cent to +20.28 per centfrom +23.59 per cent on June 10 2022. But in terms of its 1-year return, the Index has gained 34.09 per cent.
On the other hand, the NGX Banking Index has lost -0.88 per cent year-to-date and has a 1-yr return of 11.67 per cent.
From the banks’ released Q1 2022 financial statements, the banks combined net loans and total deposits as at March 31, 2022, stood at N20.974 trillion and N30.008 trillion respectively with Ecobank Transnational topping; accounting for 26.42 per cent of total deposit and 22.81 per cent of net loans.
In terms of total assets and total equity, the 10 banks have combined total assets of N50.914 trillion and total equity of N4.574 trillion as at March 2022 with Access Holdings topping, accounting for 23.0 per cent of the combined total assets and 22.96 per cent of the combined total equity.
In terms of year-to-date performance, top on the list is Wema Bank Plc. Wema Bank closed its last trading day (Monday, June 20, 2022) at N3.17 per share on the NGX. It began the year with a share price of N0.72 and has since gained 340 per cent on that price valuation, ranking it 1st on the NGX Banking and second on the NGX equity market.
In addition, shareholders can be more optimistic about Wema Bank knowing the stock has an outstanding 1-yr return of 476 per cent, the 1st on the NGX Banking in terms of 1-yr performance.
Wema Bank is the 35th most traded stock on the NGX over the past three months (March 17 – June 20, 2022). It traded a total volume of 131 million shares in 3,338 deals, valued at N421 million over the period.
In terms of dividend payment (year 2021) Wema Bank Plc is 5th on the Banking Index companies with a dividend payment of N0.24 for 2021 financial year and a dividend yield of 7.56 per cent.
Wema Bank is the 38th most valuable stock on the NGX with a market capitalisation of N40.8 billion, which is about 0.149 per cent of the NGX equity market.
Second on the list is Jaiz Bank Plc with YtD and 1yr return of +76.8 per cent and +68.8% respectively. Jaiz Bank Plc closed its last trading day (Monday, June 20, 2022) at N0.99 on the NGX. The bank began the year with a share price of N0.56 and has since gained 76.8 per cent on that price valuation, ranking it 2nd on NGX Banking Index and 16th on the NGX in terms of year-to-date performance.
The Bank is the 6th most traded stock on the NGX over the past three months (March 17 – June 20 2022), with a total volume of 998 million shares in 3,080 deals valued at N878 million over the period.
Jaiz Bank is currently the 9th and 39th most valuable stock on the NGX Banking and NGX respectively with a market capitalisation of N34.2 billion, which makes about 1.85 per cent and 0.125 per cent of the NGX Banking and NGX equity market capitalisation respectively.
However, investors should note that Jaiz Bank has a low dividend (N0.04 per share), which places the bank in 8th position on the Index’s dividend log and dividend yield of 4.26 per cent, ranking it 5th on the NGX Banking.
Jaiz Bank was set up in 2004 to establish Nigeria’s first full-fledged non-interest bank. In November 2011, it obtained a regional operating license, which allows the bank to operate geographically in a 3rd of the country as a non-interest bank. It began operation in January 2012 with 3 branches located in Abuja FCT, Kaduna and Kano, but recently obtained an approval from CBN to operate in all parts of the country.
Fidelity Bank closed its last trading day, June 20, 2022, at N3.35 per share on the NGX. The Bank began the year with a share price of N2.55 and has since gained 31.37 per cent on that price valuation, ranking it 22nd on the NGX and 3rd on the NGX Banking Index in terms of year-to-date performance. The stock has accrued 47.58 per cent over the past one-year period, the 3rd best on the NGX Banking Index.
Currently, Fidelity Bank is the 6th and 25th most valuable stock on the NGX Banking and NGX respectively with a market capitalisation of N97.1 billion, which is about 5.26 per cent and 0.355 per cent of the NGX Banking and NGX equity market respectively.
Fidelity Bank is the 3rd most traded stock on the NGX over the past three months (March 17 – June 20 2022). The stock has traded a total volume of 1.28 billion shares in 10,278 deals, valued at N4.42 billion over the period, with an average of 20.3 million traded per session.
Fidelity Bank’s last declared dividend of N0.30, places the Bank in 2nd position on the NGX Banking Index stocks in terms of dividend for 2021 financial year but 1st in terms of dividend yield (10.45%) ahead of other 9 banks.
Fidelity Bank Plc operates in the financial sector, specifically, the banking industry. The bank was incorporated in 1987 as a private limited company with a Merchant banking license. The bank converted to a commercial bank in 1999, became a public limited company in August 1999 and secured a Universal Banking license in February 2001.ETI has been listed on the NGX since September 11th 2006 and is currently the 18th and 4th most valuable stock on the NGX and NGX banking respectively with a market capitalization of N185 billion, which makes about 10.06 percent and 0.677 of the NGX Banking and NGX equity market capitalisation respectively.
ETI current share price is N10.10. The Bank closed its last trading day on June 20, 2022, at N10.10. It began the year with a share price of N8.70 and has since gained 16.09 per cent on that price valuation, ranking it 4th on the NGX Banking and 41st on the NGX market in terms of year-to-date performance. Fidelity Bank shareholders can be optimistic about Fidelity knowing that the stock has gained 94.23 per cent over the past 1-yr period, ranking it 2nd on the NGX Banking.
ETI is the 11th most traded stock on the NGX over the past three months. It has traded a total volume of 458 million shares in 3,373 deals valued at N5.39 billion over the period, with an average of 7.28 million traded shares per session. As at March 31, 2022, ETI has total assets of N11.265 trillion, a decrease of 2.55 per cent from its December 31, 2021 position of N11.560 trillion. The bank has N8.193 trillion deposits and N4.784 trillion net loans, ranking it 1st on the NGX banking.
Sterling Bank Plc closed its last trading day (Monday, June 20, 2022) at N1.56 per share on the NGX. The bank started the year with a share price of N1.51 and has since gained 3.31 per cent on that price valuation, ranking it 5th on NGX Banking and 57th on the NGX in terms of year-to-date performance.
The bank is currently the 7th and 35th most valuable on the NGX banking and NGX respectively with a market capitalisation of N44.9 billion, which makes about 2.47 per cent and 0.164 per cent of the NGX Banking and NGX equity market capitalisation respectively.
Over the past three months, Sterling Bank has traded a total volume of 506 million shares in 4,247 deals valued at N765 million over the period, with an average of 8.03 million traded shares per session.
Access Holding closed its last trading day (Monday 20, 2022) at N9.40 per share on the NGX. It began the year with a share of N9.30 and has since gained 1.08 per cent on that price valuation, ranking it 6th on the NGX banking and 60th on the NGX in terms of year-to-date performance.
However, the bank has a better performance in terms of 1-year return, gaining 9.94 per cent and ranking it 5th on the NGX banking.
Access Holding is the 8th most traded stock on the NGX over the past 3 months; having traded a total volume of 977 million shares in 13,574 deals valued at N9.63 billion over the period, with an average of 15.5 million traded shares per session.
The bank is currently the 2nd (Behind Zenith Bank Plc) and 13th most valuable stock on the NGX Banking and NGX respectively with market capitalisation of N334.13 billion, which makes about 18.10% and 1.22% of the NGX banking and NGX equity market capitalization respectively.
Access Bank has been listed on the NGX since 1998. As at March 31, 2022, the bank’s total assets stood at N11.732 trillion, ranking it 1st on the NGX banking above ETI and Zenith Bank.
