Guaranty Trust Bank Plc and Zenith Bank Plc may get their full-year 2019 financial statements released to the investing public ahead of their listed peers. The Board of Directors of both tier-1 lenders will be meeting this month to consider their full-year results.
The Board of Directors of Guaranty Trust Bank Plc will be meeting on January 22, 2020, to consider the bank’s audited financial statement for the year ended December 31, 2019.
Pursuant to the post-listing requirements of the Nigerian Stock Exchange (NSE) for quoted companies, the bank’s closed period for trading in its shares commenced on January 7, 2020.
The closed period intends to prevent trading in a company’s shares by its insiders ahead of the public dissemination of its financial results.
Also, the Board of Directors of Zenith Bank Plc will be meeting on January 28, 2020, to consider the Group’s audited financial statements for the same period ended December 31, 2019. The closed period for trading in the shares of Zenith Bank commenced on January 3, 2020. The closed period will run until 24 hours after the audited account is released to the investing public.
Both stocks are among analysts’ picks for the year 2020. Despite their potential for capital appreciation, they also have the record of dividend payment. Recently in their ‘buy’ rating, for GTBank, Vetiva research analysts had set a target price (TP) of N47.89 for the stock which closed at N30.10 last week.
As at Tuesday, January 7, GTBank closed at N31, rising by 90kobo or 2.99percent. It looks good to reach its 52-week high of N39.15 per share against a 52-week low of N24.65.
Likewise, their target price of N32.77 for Zenith Bank Plc against N19.25 it closed last week represents an upside potential. Also on Tuesday, January 7, the share price of Zenith Bank Plc increased to N20, gaining 75kobo or 3.9percent. It had reached a 52-week high of N26.85 and a corresponding week low of N16.
