UBA Trades at 34% to 52-Week High
Pan African lender, UBA Plc, total market worth hit N764 billion on the Nigerian Exchange at the close of trading sessions on Friday. The financial services group registered a moderate price surge, which closed the week at N22.35 per share from N21.
With 34.199 billion shares outstanding, its market valuation climbed to N764 billion over the last five trading sessions. At the current price, UBA is trading at a more than 34% discount to its 52 week high on the Nigerian Exchange.
UBA had hit the bottom at N11 per share during a bearish run on the Nigerian bourse. A slew of analysts’ estimates showed UBA earnings would surge further. In 2023, the lender’s earnings quality beat the industry’s average, ranked top among its peers.
Investors’ appetite for UBA has been strong, and it is projected to remain a money-making machine for shareholders. The market is expecting to see the group fund raising plan implemented. The pan-African lender ranked higher among stocks that enjoy positive analysts recommendation with strong buying interest due to its upside potential.
Its pricing would further set direction for alpha seekers to either take position or exit the ring for the high and the mighty. Mixed Trade Keeps Dangote, BUA, Lafarge Market Value Steady at N16.7Trn
