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ACCE

Access BankNGSE:ACCESS Stock Report

Market Cap

₦334.5b

7D

1.6%

1Y

20.8%

Updated

18 Oct, 2021

Data

Company Financials +
ACCESS fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance4/6
Financial Health4/6
Dividends5/6

ACCESS Overview

Access Bank Plc, together with its subsidiaries, provides various banking products and services in Nigeria, rest of Africa, and Europe.

Access Bank Competitors

Zenith Bank

NGSE:ZENITHBANK

₦780.2b

Guaranty Trust Holding

NGSE:GTCO

₦648.1b

FBN Holdings

NGSE:FBNH

₦421.8b

United Bank for Africa

NGSE:UBA

₦283.9b

Price History & Performance

Summary of all time highs, changes and price drops for Access Bank
Historical stock prices
Current Share Price₦9.60
52 Week High₦7.05
52 Week Low₦10.50
Beta0.86
1 Month Change6.67%
3 Month Change4.35%
1 Year Change20.76%
3 Year Change20.00%
5 Year Change69.01%
Change since IPO657.14%

Recent News & Updates

Shareholder Returns

ACCESSNG BanksNG Market
7D1.6%6.2%1.6%
1Y20.8%20.3%40.0%

Return vs Industry: ACCESS matched the NG Banks industry which returned 20.3% over the past year.

Return vs Market: ACCESS underperformed the NG Market which returned 40% over the past year.

Price Volatility

Is ACCESS's price volatile compared to industry and market?
ACCESS volatility
ACCESS Beta0.86
Industry Beta0.87
Market Beta1

Stable Share Price: ACCESS is less volatile than 75% of NG stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: ACCESS's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19896,497Herbert Wigwehttps://www.accessbankplc.com

Access Bank Plc, together with its subsidiaries, provides various banking products and services in Nigeria, rest of Africa, and Europe. It operates through four segments: Corporate and Investment Banking, Commercial Banking, Retail banking, and Business Banking. The company accepts current, saving, domiciliary, corporate, and call accounts; and tenured and fixed rate deposits.

Access Bank Fundamentals Summary

How do Access Bank's earnings and revenue compare to its market cap?
ACCESS fundamental statistics
Market Cap₦334.47b
Earnings (TTM)₦130.42b
Revenue (TTM)₦488.37b

2.6x

P/E Ratio

0.4x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ACCESS income statement (TTM)
Revenue₦488.37b
Cost of Revenue₦0
Gross Profit₦488.37b
Expenses₦357.94b
Earnings₦130.42b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)3.74
Gross Margin100.00%
Net Profit Margin26.71%
Debt/Equity Ratio132.9%

How did ACCESS perform over the long term?

See historical performance and comparison

Dividends

8.9%

Current Dividend Yield

23%

Payout Ratio

Valuation

Is Access Bank undervalued compared to its fair value and its price relative to the market?

5.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ACCESS (NGN9.6) is trading below our estimate of fair value (NGN10.14)

Significantly Below Fair Value: ACCESS is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ACCESS is good value based on its PE Ratio (2.6x) compared to the NG Banks industry average (3.8x).

PE vs Market: ACCESS is good value based on its PE Ratio (2.6x) compared to the NG market (7.4x).


Price to Earnings Growth Ratio

PEG Ratio: ACCESS is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: ACCESS's PB Ratio (0.4x) is in line with the NG Banks industry average.


Future Growth

How is Access Bank forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

7.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACCESS's forecast earnings growth (7.5% per year) is below the savings rate (13.2%).

Earnings vs Market: ACCESS's earnings (7.5% per year) are forecast to grow slower than the NG market (15.3% per year).

High Growth Earnings: ACCESS's earnings are forecast to grow, but not significantly.

Revenue vs Market: ACCESS's revenue (9.7% per year) is forecast to grow slower than the NG market (10.4% per year).

High Growth Revenue: ACCESS's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACCESS's Return on Equity is forecast to be low in 3 years time (15.6%).


Past Performance

How has Access Bank performed over the past 5 years?

12.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACCESS has a high level of non-cash earnings.

Growing Profit Margin: ACCESS's current net profit margins (26.7%) are higher than last year (22%).


Past Earnings Growth Analysis

Earnings Trend: ACCESS's earnings have grown by 12.8% per year over the past 5 years.

Accelerating Growth: ACCESS's earnings growth over the past year (41.4%) exceeds its 5-year average (12.8% per year).

Earnings vs Industry: ACCESS earnings growth over the past year (41.4%) exceeded the Banks industry 10.5%.


Return on Equity

High ROE: ACCESS's Return on Equity (17%) is considered low.


Financial Health

How is Access Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ACCESS's Assets to Equity ratio (13x) is moderate.

Allowance for Bad Loans: ACCESS has a low allowance for bad loans (69%).

Low Risk Liabilities: 83% of ACCESS's liabilities are made up of primarily low risk sources of funding.

Loan Level: ACCESS has an appropriate level of Loans to Assets ratio (40%).

Low Risk Deposits: ACCESS's Loans to Deposits ratio (52%) is appropriate.

Level of Bad Loans: ACCESS has a high level of bad loans (4.3%).


Dividend

What is Access Bank current dividend yield, its reliability and sustainability?

8.85%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ACCESS's dividend (8.85%) is higher than the bottom 25% of dividend payers in the NG market (3.3%).

High Dividend: ACCESS's dividend (8.85%) is in the top 25% of dividend payers in the NG market (7.31%)


Stability and Growth of Payments

Stable Dividend: ACCESS's dividend payments have been volatile in the past 10 years.

Growing Dividend: ACCESS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.7%), ACCESS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACCESS's dividends in 3 years are forecast to be well covered by earnings (20.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Herbert Wigwe (55 yo)

7.75yrs

Tenure

Dr. Herbert Onyewumbu Wigwe, FCA has been the Chief Executive Officer and Managing Director of Access Bank Plc January 01, 2014 and serves as its Executive Director. Dr. Wigwe started his professional care...


Leadership Team

Experienced Management: ACCESS's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: ACCESS's board of directors are considered experienced (3.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Access Bank Plc's employee growth, exchange listings and data sources


Key Information

  • Name: Access Bank Plc
  • Ticker: ACCESS
  • Exchange: NGSE
  • Founded: 1989
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₦334.465b
  • Shares outstanding: 34.84b
  • Website: https://www.accessbankplc.com

Number of Employees


Location

  • Access Bank Plc
  • No 14/15, Prince Alaba Oniru Road
  • Oniru
  • Lagos
  • Nigeria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/18 21:40
End of Day Share Price2021/10/18 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.