Sterling Holdings Drops by 7% as Earnings Per Share Sinks
Sterling Financial Holdings Plc lost about 7% of its market value to sell pressure as the group’s earnings per share sank to N0.77 kobo at the end of the first half of 2026.
The selloffs occurred as the Holdco released its earnings for the first half of 2026, which showed a 20% year-on-year increase in profitability and a sharp decline in earnings per share.
Sterling Financial Holdings ‘ share price fell to N7.50 per share as 35.812 units valued at N285.144 million were traded on the Nigerian Exchange (NGX), from N8.05 the previous day.
The selloffs breached N8 support following a failed attempt to break out due to weak investors’ sentiment. Sterling Holdings closed at about 20% below its 52-week high in the local bourse as sell pressure mounted.
In the first half of 2026, Sterling Bank’s non-operating holdings company’s net income surged 41% to N137.393 billion, from N97.415 billion posted in the equivalent period in 2025.
Details from the group’s operating results showed profit edged higher by 20% year on year to N50.297 billion in the half year from N41.775 billion in the equivalent period in 2025.
The financial services company recorded a slowdown in earnings per share to N0.77 kobo from N0.88 kobo in the equivalent period in 2025. This was attributed to an increase in the company’s paid-up capital, which lifted its outstanding shares to 65.356 billion compared with 46.819 billion.
The stock market value of Sterling Financial Holdings Plc, with 65.929 billion outstanding shares on the Nigerian Exchange, declined to N494.469 billion.
Meanwhile, details from earnings results revealed that CardinalStone Asset Management Limited and Silverlake Investment Limited saw their combined holding in Sterling Financial Holdings reduced to 44.21% from 54.82% in Dec. 2025 as the capital raise diluted top shareholders’ interest.
Sterling Financial Holdings Company Plc, with a free float percentage of 25.29% as at 30 June 2026, is compliant with the Exchange’s free float requirements for companies listed on the Main Board.
