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FBN Holdings, Sterling Bank, GTCO and Unity Bank make stock-to-watch list

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FBN Holdings, Sterling Bank, GTCO and Unity Bank make stock-to-watch list

As you begin the week searching for stocks to add to your investment portfolio, Ripples Nigeria stocks to watch list presents you with four Nigerian banks to have on your radar.

FBN Holdings, GTCO, Sterling Bank and Unity Bank occupied the stocks to watch list for this week, as the financial industry was the best performing sector during the five days of trading last week.

Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

First Bank Nigeria Holdings

Billionaire, Femi Otedola, has been bullish on First Bank, in recent weeks, acquiring more of the firm’s stock, as he spread his investment portfolio into the financial sector from oil & gas.

This shows the investor sees a positive investment value in pumping his money into FBN Holdings, and such move is likely to sway the capital market in favour of the lender in the long term.

So First Bank share is one of the stocks to have on your radar as a prospective or current investor, considering the creditor’s shareholders gained over N7.17 billion in last week’s trading.

GTCO

Guaranty Trust Holding Company (GTCO) was the biggest gainer in the financial sector during last week’s trading, as its shareholders went home with over N75.04 billion.

Following an impressive outing last week, GTCO will begin this week’s trading as one of the stocks to watch, with investors confidence high towards the Segun Agbaje-led creditor.

Read also: First Bank, Vitafoam, Conoil, Cutix make Ripples Nigeria stocks-to-watch list

But note that a bullish stock has a sell off shadow hanging above it due to possible profit-taking activity among Guaranty Trust’s shareholders.

Sterling Bank

Sterling Bank has received approval-in-principle from the Central Bank of Nigeria for its non-interest business, a nod that will help the lender improve investors’ investment value.

The non-interest venture, Alternative Bank Limited, will expand Sterling Bank’s revenue generation, which will possibly increase the dividend offered by the creditor to shareholders in the long run.

CBN’s approval makes Sterling Bank share a stock worth to be on your asset to watch as you ponder on improving investment choices – it also ended last week as one of the top three equities in the Nigerian bourse.

Unity Bank

The lender ended last week as the top loser in the capital market. Unity Bank’s share price depreciated by 15.6 percent within five days of trading, knocking down shareholders investment value.

So it will enter this week’s trading activity as a losing stock, with asking price starting at a low of N0.43kobo per share, against the N0.51kobo it started last week with.

The sell off recorded on Unity Bank exchange floor still lingers, so investors need to have the lender’s stock on their watch list, and trade with caution as usual.

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