Fidelity Stock Gains 31.37% in the Last 6months

The NGX Banking index is designed to provide an investable benchmark to capture the performance of the banking sector, which comprises the most capitalized and liquid companies in banking. The NGX Banking Index comprises 10 companies.

As of close of business on June 17, 2022, the NGXASI YtD return dipped by 14.03% to +20.28% from +23.59% on June 10 2022. But in terms of its 1-year return, the Index has gained 34.09%.

On the other hand, the NGX Banking Index has lost -0.88% year-to-date and has a 1-yr return of 11.67%.

From the banks’ released Q1 2022 financial statements, the banks combined net loans and total deposits as at March 31, 2022, stood at N20.974 trillion and N30.008 trillion respectively with Ecobank Transnational topping; accounting for 26.42% of total deposit and 22.81% of net loans.

In terms of total assets and total equity, the 10 banks have combined total assets of N50.914 trillion and total equity of N4.574 trillion as at March 2022 with Access Holdings topping, accounting for 23.0% of the combined total assets and 22.96% of the combined total equity.

FIDELITY BANK +31.37%

Fidelity Bank closed its last trading day, June 20, 2022, at N3.35 per share on the NGX.  The Bank began the year with a share price of N2.55 and has since gained 31.37% on that price valuation, ranking it 22nd on the NGX and 3rd on the NGX Banking Index in terms of year-to-date performance.  The stock has accrued 47.58 per cent over the past one-year period, the 3rd best on the NGX Banking Index.

Currently, Fidelity Bank is the 6th and 25th most valuable stock on the NGX Banking and NGX respectively with a market capitalization of N97.1 billion, which is about 5.26 per cent and 0.355% of the NGX Banking and NGX equity market respectively.

Fidelity Bank is the 3rd most traded stock on the NGX over the past three months (March 17 – June 20 2022).  The stock has traded a total volume of 1.28 billion shares in 10,278 deals, valued at N4.42 billion over the period, with an average of 20.3 million traded per session.

Fidelity Bank’s last declared dividend of N0.30, places the Bank in 2nd position on the NGX Banking Index stocks in terms of dividend for 2021 financial year but 1st in terms of dividend yield (10.45%) ahead of other 9 banks.

Fidelity Bank Plc operates in the financial sector, specifically, the banking industry.  The bank was incorporated in 1987 as a private limited company with a Merchant banking license.  The bank converted to a commercial bank in 1999, became a public limited company in August 1999 and secured a Universal Banking license in February 2001.