FBN Holdings Plc Hits a New 52 Week High at N10.65 Per Share as Investors Continue to Buy Into the Company

The price of FBN Holdings stock rose to a new 52-week high on Tuesday as more investors jump on the company’s shares following a series of adjustments made by the leading financial institution.

In the last 7 trading days, the stock has risen by 29.9 percent from N8.2 per share it closed on October 4, 2021 to N10.65 per share before pulling back slightly to close at N9.7 a share on October 12, 2021

On October 4, 2021, investors transacted 18,145,208 shares while that number jumped to 317,275,556 shares valued at N3.3 billion on October 12, 2021. Suggesting likely insider dealings considering the size of the transaction.

The company led gainers last week with 21.74 percent to outperform the Nigerian Exchange Limited.

FBNH was the most traded stock on Tuesday as shown below.

Top Five Trades

The Nigerian Exchange closed the day in the green with the All Share Index expanding by 0.45 percent to close at 40,896.96 index points, while the market value of all listed stocks rose to N21.311 trillion.

Investors traded 563,882,178 shares valued at N5.095 billion during the trading hours of Tuesday, against 191,311,638 shares worth N2.59 billion exchanged in 4,395 transactions on Monday.

Going by the transaction numbers, FBNH accounted for 77.72 percent of the total shares traded on Tuesday. In line with NSE disclosure policy, the bank would possibly delay disclosure announcement till later in the year to cover insider dealings ahead of third-quarter financial statements release or other major announcements.

Top Five Gainers

Top Five Losers