Sterling Financial Holdings Market Value Steadies at N542bn
Sterling Financial Holdings Plc closed the last five trading sessions on the Nigerian Exchange at N524 billion in market value, according to its trading data.
The share price of the non-operating holding company of Sterling Bank Limited was flattish at N7.65 throughout last week’s trading sessions, despite pulling significant trading volume.
This occurred despite strong banking index performance on the local bourse, with equity analysts saying Sterling Financial Holdings failed to attract attention because of its weak dividend track record.
The banking index, according to data from the Nigerian Exchange, was up by 4,43% last week, and the equities market capitalisation surged N4.57 trillion at the same time.
Reflecting weak investor sentiment in the group, a review of Sterling Financial Holdings trading data indicates the group’s share price is 18% below its 52-week high.
The banking company’s share price is near its 52-week low on the NGX. Specifically, Sterling Holdings share price is 14% above its 52-week low.
The financial services company traded heavily, suggesting block-trade negotiations among traders. Last week, Sterling’s trading volume ranged from 11,128,322 to 142,041,063, according to details from the local bourse.
Sterling Financial Holdings’ share price stagnated despite the trading volume. The market value of Sterling Financial Holdings Plc’s 68.502 billion outstanding shares remained unchanged at N524.042 billion at the close of trading on Friday.
The valuation was 18% below the record high on the local bourse over the last 12 months. #Sterling Financial Holdings Market Value Steadies at N542bn
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