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Tuesday, June 6, 2023

GTB Stock Marks Time Ahead of Delayed Q2 Earnings

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Guaranty Trust Bank (GTB) stock has been stuck in a trading range over the past 3 weeks as investors await second quarter (Q2) results.

The bank which is the largest listed lender in Africa’s largest economy with a market capitalization of N741 billion has been trading in a tight range between N24 and N25 per share since August 9th. (see chart below).

GTB Chart

Last year GTB released its Half Year (H1) results on August 19th, which was 1 week and 2 days early (as at August 28th) compared to this year’s H1 results which are yet to be released.

The bank reported Profit Before Tax of N58.2 Billion for its Q1 2020 unaudited results.

The stock has a one year return of 7.27 percent and sports a dividend yield of 11.1 percent.

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