FirstHoldco Drops by 20.6% Post Short-Term Buying Frenzy
FirstHoldco Plc’s share price has fallen about 21% from its recent all-time high ahead of the group’s third-quarter 2026 earnings announcement, as demand has slowed and investors await the release.
The share price hit N165, its all-time high following a short-term buying frenzy, after then profit takers stepped in, noting demand has been exhausted.
Sustained profit-taking ahead of the financial services company’s nine-month earnings scorecard for the financial year 2026 has dragged the market capitalisation of its 45.475 billion outstanding shares below N6 trillion, from more than N7.5 trillion.
Trading data for First Bank of Nigeria Limited’s non-operating holding company showed the share price fell to N131 on Wednesday, down 4.59% from its opening value, amid heavy trading volume.
In sell-side-led transactions, more than 12 million shares of First Holdco, valued at N1.578 billion, hurt the bank’s share price by about 4.6% on Wednesday.
Stock market analysts said the next catalyst to trigger a fresh re-rating for First Holdco is the Q3 earnings harvest, and that its size and quality will drive the next price action.
First Holdco’s share price has declined 20.6060% to N131 from N165, a level it reached a few weeks ago, driven by the management dividend policy announcement and purchases by its chairman, Femi Otedola. FirstHoldco Hits 52-Week High on Substantial Trading Volume
