FBNH is sure underpriced at current level, considering its PE Ratio and Earnings yield after it released its second quarter result for the period ended June 30th, 2021.

Though the holding company obviously reported decline across its major performance metrics but the state of its PE ratio and earnings yield only suggests that the company stock was trading below it face value and has a upward trajectory projection.

First Bank of Nigeria Holdings Plc (FBNH) on Friday published it Second Quarter result for the period ended 30 June 2021.

Gross Earnings of N291.388 billion was recorded for the six months period, down by 2.91% from N300.136 billion recorded the previous year.

Read Also : First Bank reports N38bn as profit in HY 2021

Profit after tax for the six months period was N38.045 billion, down by 23.08% from N49.463 billion reported the previous year.

Earnings per share of the Group for the period under review drop to N1.06 from the EPS of N1.38 the previous year.

At the share price of N7.4, the P.E ratio of FBNH stands at 6.98x with earnings yield of 14.32%

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