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FIDE

Fidelity BankNGSE:FIDELITYBK Stock Report

Market Cap

₦79.4b

7D

4.2%

1Y

34.3%

Updated

19 Oct, 2021

Data

Company Financials +
FIDELITYBK fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance3/6
Financial Health5/6
Dividends5/6

FIDELITYBK Overview

Fidelity Bank Plc provides various banking and financial products and services to corporate and individual customers in Nigeria.

Fidelity Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fidelity Bank
Historical stock prices
Current Share Price₦2.74
52 Week High₦1.93
52 Week Low₦3.10
Beta0.57
1 Month Change12.76%
3 Month Change14.17%
1 Year Change34.31%
3 Year Change40.51%
5 Year Change234.15%
Change since IPO-15.17%

Recent News & Updates

Shareholder Returns

FIDELITYBKNG BanksNG Market
7D4.2%3.2%0.6%
1Y34.3%21.0%38.8%

Return vs Industry: FIDELITYBK exceeded the NG Banks industry which returned 20.1% over the past year.

Return vs Market: FIDELITYBK underperformed the NG Market which returned 38.9% over the past year.

Price Volatility

Is FIDELITYBK's price volatile compared to industry and market?
FIDELITYBK volatility
FIDELITYBK Beta0.57
Industry Beta0.87
Market Beta1

Stable Share Price: FIDELITYBK is not significantly more volatile than the rest of NG stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: FIDELITYBK's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19873,086Nneka Onyeali-Ikpehttps://www.fidelitybank.ng

Fidelity Bank Plc provides various banking and financial products and services to corporate and individual customers in Nigeria. The company offers current, savings, fixed deposit, domiciliary, money market, and small business accounts; asset leasing, personal loan, and instant salary advance schemes; bills settlements, cash management, and asset management; mortgages, asset finance, margin trading facilities, bank guarantees, standby letters of credit, and cash backed facilities; treasury and foreign exchange, and safekeeping services; and advisory, investment management, estate planning, money transfer, and other investment services. Its corporate banking products and services comprise loans and advances, trade finance, working capital finance, project finance, asset finance, syndicate finance, term loans, lease, guarantees and bonds issuance, franchise financing, letters of credit, money market and treasury services, distributors and suppliers finance schemes, corporate finance and advisory services, and transaction banking and cash management services.

Fidelity Bank Fundamentals Summary

How do Fidelity Bank's earnings and revenue compare to its market cap?
FIDELITYBK fundamental statistics
Market Cap₦79.36b
Earnings (TTM)₦34.65b
Revenue (TTM)₦115.76b

2.3x

P/E Ratio

0.3x

P/B Ratio

Is FIDELITYBK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
FIDELITYBK income statement (TTM)
Revenue₦115.76b
Cost of Revenue₦3.03b
Gross Profit₦112.73b
Expenses₦78.08b
Earnings₦34.65b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.20
Gross Margin97.39%
Net Profit Margin29.94%
Debt/Equity Ratio115.4%

How did FIDELITYBK perform over the long term?

See historical performance and comparison

Dividends

8.0%

Current Dividend Yield

18%

Payout Ratio

Valuation

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

2.29x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate FIDELITYBK's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate FIDELITYBK's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: FIDELITYBK is good value based on its PE Ratio (2.3x) compared to the NG Banks industry average (3.9x).

PE vs Market: FIDELITYBK is good value based on its PE Ratio (2.3x) compared to the NG market (7.4x).


Price to Earnings Growth Ratio

PEG Ratio: FIDELITYBK is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: FIDELITYBK is good value based on its PB Ratio (0.3x) compared to the NG Banks industry average (0.5x).


Future Growth

How is Fidelity Bank forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

10.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FIDELITYBK's forecast earnings growth (10.3% per year) is below the savings rate (13.2%).

Earnings vs Market: FIDELITYBK's earnings (10.3% per year) are forecast to grow slower than the NG market (15.2% per year).

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

Revenue vs Market: FIDELITYBK's revenue (18.3% per year) is forecast to grow faster than the NG market (10.4% per year).

High Growth Revenue: FIDELITYBK's revenue (18.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FIDELITYBK's Return on Equity is forecast to be low in 3 years time (10.9%).


Past Performance

How has Fidelity Bank performed over the past 5 years?

22.0%

Historical annual earnings growth


Earnings and Revenue History

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

Growing Profit Margin: FIDELITYBK's current net profit margins (29.9%) are higher than last year (26.4%).


Past Earnings Growth Analysis

Earnings Trend: FIDELITYBK's earnings have grown significantly by 22% per year over the past 5 years.

Accelerating Growth: FIDELITYBK's earnings growth over the past year (11%) is below its 5-year average (22% per year).

Earnings vs Industry: FIDELITYBK earnings growth over the past year (11%) exceeded the Banks industry 10.5%.


Return on Equity

High ROE: FIDELITYBK's Return on Equity (12.7%) is considered low.


Financial Health

How is Fidelity 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: FIDELITYBK's Assets to Equity ratio (11.4x) is moderate.

Allowance for Bad Loans: FIDELITYBK has a sufficient allowance for bad loans (161%).

Low Risk Liabilities: 70% of FIDELITYBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: FIDELITYBK has an appropriate level of Loans to Assets ratio (49%).

Low Risk Deposits: FIDELITYBK's Loans to Deposits ratio (78%) is appropriate.

Level of Bad Loans: FIDELITYBK has a high level of bad loans (2.7%).


Dividend

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

8.03%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FIDELITYBK's dividend (8.03%) is higher than the bottom 25% of dividend payers in the NG market (3.25%).

High Dividend: FIDELITYBK's dividend (8.03%) is in the top 25% of dividend payers in the NG market (7.24%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.4%), FIDELITYBK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FIDELITYBK's dividends in 3 years are forecast to be well covered by earnings (21.6% payout ratio).


Next Steps

Management

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

4.9yrs

Average management tenure


CEO

Nneka Onyeali-Ikpe

0.75

Tenure

Mrs. Nneka Chinwe Onyeali-Ikpe serves as Managing Director and Chief Executive Officer at Fidelity Bank Plc since January 1, 2020. She served as an Executive Director of Commercial & Consumer Banking - Lag...


Leadership Team

Experienced Management: FIDELITYBK's management team is considered experienced (4.9 years average tenure).


Board Members

Experienced Board: FIDELITYBK's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


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

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


Key Information

  • Name: Fidelity Bank Plc
  • Ticker: FIDELITYBK
  • Exchange: NGSE
  • Founded: 1987
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₦79.357b
  • Shares outstanding: 28.96b
  • Website: https://www.fidelitybank.ng

Number of Employees


Location

  • Fidelity Bank Plc
  • Fidelity Place
  • 1, Kofo Abayomi Street
  • Lagos
  • Nigeria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 15:21
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.