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FBN Holdings insider purchases 470,000 shares in bullish bet

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A Non-Executive Director in Tier-one lender FBN Holdings (FBNH) has just purchased 470,000 shares in the bank valued at N2.3 million.

Otunba (Mrs) Osibogun Bosede Adebola bought the shares at N4.80 per share, on Tuesday May 12, 2020 on the floor of the Nigerian Stock Exchange (NSE), according to a notification of the trade.

FBNH closed trading at N4.75 per share on the day of the trade, equivalent to a dividend yield of 7.92 percent.

Bullish insider trades are a vote of confidence and could indicate that the buyer believes there is major upside in the shares of the bank or that the bank is undervalued here.

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