Deadlytruth:

I think it's CHAMS going by the information contained in the last corporate action they filed with NSE.

Deadlytruth:

I think it's CHAMS going by the information contained in the last corporate action they filed with NSE.

rebekah2011:
The challenge with UCAP is that even if they make huge profit. They won't be able to pay much out as dividend because of the excess tax on dividend they will have to pay because most of their income are tax exempt.. I don't think that the subsidiaries, United Securities and Asset management and United Trustees are contributing much as they should. I don't want to believe that some is short changing us the shareholders. I will watch the next quarter to see how it will all go. Ready to buy more at less than N2

Capitas7:

This is serious and not fair on shareholders. You have drawn my attention to important aspects of this company's rewarding factors, and I will join you in awaiting what Q2 has to offer. With regards price, I am HOPEFUL that some magical sentiments drive it up to around 3NGN in a near time, so I can sell my usual 33% for possible re-entry at those low prices. Thank you for the enlightenment sir.

ndidigood:
Getting tired of buying fundamentally sound stock,please help me beam ur sachlite for royal exchange assurance
Wanna try my rock with it,

tritritri:




Q3 or so.Ucap drop a bad result..it quickly bounce back to 3.03 within few days....i will buy more if it drop below 2.50

tritritri:




Q3 or so.Ucap drop a bad result..it quickly bounce back to 3.03 within few days....i will buy more if it drop below 2.50

tritritri:



u wan turn to Ndididbad

phemmie06:

There is different between the followings:
Qualification date
CLose of registrar book
Payment date.
Qualification date is the last day which an investor can buy a share and be entitled to dividend. It is always the next day after the qualification date
CLose of registrar book is the day that the registrar update their book to determine the investors that are qualify for the dividend.
Payment date is the day schedule to pay all those who are qualified for the dividend

ndidigood:
l wish and pray it gets to that 3 sumtin

ndidigood:
Getting tired of buying fundamentally sound stock, please help me beam ur sachlite for royal exchange assurance
Wanna try my ro ck with it,

Heishere:
Please can someone look into Honeywell flour mills for me? I wish to queue up tomorrow...

Deadlytruth:

You are contemplating venturing into a very slippery terrain which takes Herculean courage to tread. Welcome all the same.

Deadlytruth:

Thanks. I hurriedly read through the document the day it was released hence I didn't notice that it was qualification date they fixed for today with an [b]unspecified payment date.[b]

ndidigood:
just want to try that royal exchange.

phemmie06:

Before September the AGM will hold and payment will be made before December.

phemmie06:
Before September the AGM will hold and payment will be made before December. Na joke I de joke ó

Deadlytruth:

I thought they say flour mill stocks are no go areas for now as there are no more flours in the mill according to OGG?

onegentleguy:
The past few days has seen me receive a handful of mails over the 2018 FP of FIRST BANK. ...with quite a few of those asking of my opinion on whether its a good buy.
Well, without giving a clear cut answer to that, I'd prefer to highlight a few noticeable worries and allow folks 'to have the last word' with their decision-making.

A brief:

-The bank made a huge loan write-off of over 180B, yet saw its NPL expand above 1350bps from over 22.5% in 2017 to near 26% in 2018. ...this is not a good sign.
With key loans in its book including a 24B exposure to etisalat, and over 4.5x that amount to Atlantic energy, an approx 41% of the total write-off figure can not be accounted for within the spheres of its published result. ...that calls for some serious concern.
Again, I am worried about the banks qualifying capital in proportion to its loan. With CAR contracting by well over 270bps to ~17.2% despite the forbearance from the CBN over the full implementation of IFRS 9 in that line.
...but for that forbearance, CAR as at FY 2018 would've printed far lower(a deceleration of near 400bps to ~10.6%) from the banks 2017 print. ...a figure, so NOT befitting of the banks international status.
The interpretation of this is that 1st banks risk asset measured against its loan remains clearly UNHEALTHY.
The banks RE position also cast some measure of doubt over its ability to maintain or up its current low dividend pay out in the mid term, following an over 97% drop from near 170B in 2017 to just 4.4B in 2018. ...this is even more so given that the banks statutory reserve also declined by near 43B, feeling the heat from the new guide on reporting standard.
-On the profitability front, earnings from running the bank(operating income) actually went down YoY(by ~700bps) and QoQ(~250bps) behind an over 14% cut down in deriavable/net interest income. ...with PAT MARGIN mainly driven by an over 40% YoY or approx 54% QoQ drop in loan loss provision.
Discount that, and u'll see that the bank was only able to deliver a meagre ~24k deriavable earnings(EPS) to its shareholders in Q4 2018.
- Elsewhere, a combination of a higher interest expense and increased CoF(cost of fund) @~881bps and 340bps respectively, on the back of a ~750bps YoY drop in interest income line, ensured that the banks asset quality and yield contracted. ...with the latter pressured down by over 11%.
I am also less impressed with the print accross its key revenue and earnings line. ...particularly their ROAE, ROAA, EBITDA MARGIN, REVENUE MARGIN and EM.
Sure there are a few positives. But these cons are not to be taken lightly.

My verdict: The bank is still struggling with a combination of weak and bad assets which has ensured a strongly difficult route for a clear growth trajectory.
...with efficiency ratios suggestive of a less than impressive performance in both their loan driven front and that of their investment channels.
FIRST BANK should have a place in the portfolio of only those with long term investment horizon. ...but clearly not dividend growth investors.
That said, the estimated beta value of the bank @ well above unity(1) and the industrial average shows that sentiment is still tilted on the side of a healthy patronage(vol).
In contrast though, it does appear that the 'belief system' on the part of investors has been quite weak. This is even more true considering that the coys equity price has stayed solidly below its 50 sma in the short-mid term, while its 200 sma prints even much higher. ...referencing a clear reservation on the part of retail investors and an indifferent/weak romance/belief on the part of FMs, FPIs and DPIs.
With FBNH therefore, caution should be the watch word !!

From where am standing, its relative 1st tier peers, UBA and ACCESS @ current mkt prices presents a clearer and greater MoS deriavable value to tap from, and so remains better options ahead of 1st bank.

NOTE: This piece is strictly on the premise to aide with striking the RIGHT balance between the pros and cons of 1st banks 2018 FP. ...It should therefore not be infered as any sought of recommendation.

My advise: Pls follow ur instinct.

onegentleguy:
The past few days has seen me receive a handful of mails over the 2018 FP of FIRST BANK. ...with quite a few of those asking of my opinion on whether its a good buy.
Well, without giving a clear cut answer to that, I'd prefer to highlight a few noticeable worries and allow folks 'to have the last word' with their decision-making.

A brief:

-The bank made a huge loan write-off of over 180B, yet saw its NPL expand above 1350bps from over 22.5% in 2017 to near 26% in 2018. ...this is not a good sign.
With key loans in its book including a 24B exposure to etisalat, and over 4.5x that amount to Atlantic energy, an approx 41% of the total write-off figure can not be accounted for within the spheres of its published result. ...that calls for some serious concern.
Again, I am worried about the banks qualifying capital in proportion to its loan. With CAR contracting by well over 270bps to ~17.2% despite the forbearance from the CBN over the full implementation of IFRS 9 in that line.
...but for that forbearance, CAR as at FY 2018 would've printed far lower(a deceleration of near 400bps to ~10.6%) from the banks 2017 print. ...a figure, so NOT befitting of the banks international status.
The interpretation of this is that 1st banks risk asset measured against its loan remains clearly UNHEALTHY.
The banks RE position also cast some measure of doubt over its ability to maintain or up its current low dividend pay out in the mid term, following an over 97% drop from near 170B in 2017 to just 4.4B in 2018. ...this is even more so given that the banks statutory reserve also declined by near 43B, feeling the heat from the new guide on reporting standard.
-On the profitability front, earnings from running the bank(operating income) actually went down YoY(by ~700bps) and QoQ(~250bps) behind an over 14% cut down in deriavable/net interest income. ...with PAT MARGIN mainly driven by an over 40% YoY or approx 54% QoQ drop in loan loss provision.
Discount that, and u'll see that the bank was only able to deliver a meagre ~24k deriavable earnings(EPS) to its shareholders in Q4 2018.
- Elsewhere, a combination of a higher interest expense and increased CoF(cost of fund) @~881bps and 340bps respectively, on the back of a ~750bps YoY drop in interest income line, ensured that the banks asset quality and yield contracted. ...with the latter pressured down by over 11%.
I am also less impressed with the print accross its key revenue and earnings line. ...particularly their ROAE, ROAA, EBITDA MARGIN, REVENUE MARGIN and EM.
Sure there are a few positives. But these cons are not to be taken lightly.

My verdict: The bank is still struggling with a combination of weak and bad assets which has ensured a strongly difficult route for a clear growth trajectory.
...with efficiency ratios suggestive of a less than impressive performance in both their loan driven front and that of their investment channels.
FIRST BANK should have a place in the portfolio of only those with long term investment horizon. ...but clearly not dividend growth investors.
That said, the estimated beta value of the bank @ well above unity(1) and the industrial average shows that sentiment is still tilted on the side of a healthy patronage(vol).
In contrast though, it does appear that the 'belief system' on the part of investors has been quite weak. This is even more true considering that the coys equity price has stayed solidly below its 50 sma in the short-mid term, while its 200 sma prints even much higher. ...referencing a clear reservation on the part of retail investors and an indifferent/weak romance/belief on the part of FMs, FPIs and DPIs.
With FBNH therefore, caution should be the watch word !!

From where am standing, its relative 1st tier peers, UBA and ACCESS @ current mkt prices presents a clearer and greater MoS deriavable value to tap from, and so remains better options ahead of 1st bank.

NOTE: This piece is strictly on the premise to aide with striking the RIGHT balance between the pros and cons of 1st banks 2018 FP. ...It should therefore not be infered as any sought of recommendation.

My advise: Pls follow ur instinct.

Deadlytruth:

Is the daily volume okay?

Heishere:


Please can you be specific?

teejay1334:
good evening guys, it's my pleasure coming across this thread.pls I have 100k and I would love to invest it in stocks for a long term. here are my questions :
1.how can I open an account in order to invest
2.pls can u direct me to a good stockbroker
3.hope 100k is enough to buy a stock for a long term
4. can u plz tell me d type of stock to. invest in for long term

will really appreciate ur response as soon as possible pls.thanks u all in advance

Heishere:


Please can you be specific?