Access Bank Plc. stock outperform peers on the bourse
Access Plc is the only bank in the Tier 1 Class that has recorded an increase in share price year to date.
The financial service group stock remains the toast of investors in the stock market with positive return. Share performance of others bank in its class are on negative radar.
On Monday, Access year to date return stands at 10.77%, though inflation rate has moved faster as lender seeks to realised synergy on its successful M&A.
The stock was traded at N7.20 on Friday having peaked at N7.70 in the year and hit lowest price point when it traded at N5.30.
It opened the first trading in the year at N6.80 before it merged with defunct Diamond Bank.
As the group seeks to consolidate on the synergy from its first quarter merger, analysts say there potential for upside, both capital and dividend could make investors to be bullish in the fourth quarter.
“Though investors’ sentiment makes it difficult to predict direction of the market, but intrinsic value of some stocks makes it a right choice for building portfolio.
“I would go for BUY as third quarter earnings season is already here”, equity analysts told MarketForces.
Access Bank is expected to release third quarter financial statement in November, 2019.