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UNIT

Unity BankNGSE:UNITYBNK Stock Report

Market Cap

₦6.4b

7D

-1.8%

1Y

-5.2%

Updated

21 Oct, 2021

Data

Company Financials
UNITYBNK fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance1/6
Financial Health5/6
Dividends0/6

UNITYBNK Overview

Unity Bank Plc provides banking and other financial services to corporate and individual customers in Nigeria.

Unity Bank Competitors

Dime Community Bancshares

NasdaqGS:DCOM

US$1.4b

OceanFirst Financial

NasdaqGS:OCFC

US$1.3b

ConnectOne Bancorp

NasdaqGS:CNOB

US$1.3b

Bryn Mawr Bank

NasdaqGS:BMTC

US$990.5m

Price History & Performance

Summary of all time highs, changes and price drops for Unity Bank
Historical stock prices
Current Share Price₦0.55
52 Week High₦0.50
52 Week Low₦0.86
Beta1.39
1 Month Change0%
3 Month Change-9.84%
1 Year Change-5.17%
3 Year Change-38.89%
5 Year Change-11.29%
Change since IPO-97.47%

Recent News & Updates

Shareholder Returns

UNITYBNKNG BanksNG Market
7D-1.8%1.5%1.4%
1Y-5.2%23.4%41.3%

Return vs Industry: UNITYBNK underperformed the NG Banks industry which returned 23.6% over the past year.

Return vs Market: UNITYBNK underperformed the NG Market which returned 40.4% over the past year.

Price Volatility

Is UNITYBNK's price volatile compared to industry and market?
UNITYBNK volatility
UNITYBNK Beta1.39
Industry Beta0.87
Market Beta1

Stable Share Price: UNITYBNK is more volatile than 75% of NG stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: UNITYBNK's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of NG stocks.

About the Company

FoundedEmployeesCEOWebsite
19871,595Tomi Somefunhttps://www.unitybankng.com

Unity Bank Plc provides banking and other financial services to corporate and individual customers in Nigeria. It accepts current, savings, and fixed deposit accounts; grants loans and advances; and offers consumer and trade finance, international banking, cash management, internet and mobile banking, and money market services. The company also provides asset acquisition finance, salary advance, salary backed loans, inventory finance, letter of credit, and overdraft facility.

Unity Bank Fundamentals Summary

How do Unity Bank's earnings and revenue compare to its market cap?
UNITYBNK fundamental statistics
Market Cap₦6.43b
Earnings (TTM)₦2.44b
Revenue (TTM)₦27.56b

2.6x

P/E Ratio

-0.02x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
UNITYBNK income statement (TTM)
Revenue₦27.56b
Cost of Revenue₦497.42m
Gross Profit₦27.07b
Expenses₦24.63b
Earnings₦2.44b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.21
Gross Margin98.20%
Net Profit Margin8.84%
Debt/Equity Ratio-159.5%

How did UNITYBNK perform over the long term?

See historical performance and comparison

Valuation

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

2.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

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

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


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate UNITYBNK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: UNITYBNK has negative assets, so we can't compare its PB Ratio to the NG Banks industry average.


Future Growth

How is Unity Bank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.0%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Unity Bank has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Unity Bank performed over the past 5 years?

19.2%

Historical annual earnings growth


Earnings and Revenue History

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

Growing Profit Margin: UNITYBNK's current net profit margins (8.8%) are lower than last year (15.2%).


Past Earnings Growth Analysis

Earnings Trend: UNITYBNK has become profitable over the past 5 years, growing earnings by 19.2% per year.

Accelerating Growth: UNITYBNK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: UNITYBNK had negative earnings growth (-29.3%) over the past year, making it difficult to compare to the Banks industry average (10.5%).


Return on Equity

High ROE: UNITYBNK's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Financial Health

How is Unity 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: UNITYBNK's Assets to Equity ratio (-1.9x) is low.

Allowance for Bad Loans: UNITYBNK has a sufficient allowance for bad loans (5949%).

Low Risk Liabilities: 62% of UNITYBNK's liabilities are made up of primarily higher risk sources of funding.

Loan Level: UNITYBNK has an appropriate level of Loans to Assets ratio (45%).

Low Risk Deposits: UNITYBNK's Loans to Deposits ratio (77%) is appropriate.

Level of Bad Loans: UNITYBNK has an appropriate level of bad loans (0%).


Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate UNITYBNK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate UNITYBNK's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if UNITYBNK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if UNITYBNK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: UNITYBNK is not paying a notable dividend for the NG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of UNITYBNK's dividend in 3 years as they are not forecast to pay a notable one for the NG market.


Next Steps

Management

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

6.6yrs

Average board tenure


CEO

Tomi Somefun

6.17yrs

Tenure

Mrs. Oluwatomi Somefun, also known as Tomi, has been the Chief Executive Officer and Managing Director at Unity Bank Plc since August 12, 2015. Mrs. Somefun has over 25 years cognate experience in the fina...


Board Members

Experienced Board: UNITYBNK's board of directors are considered experienced (6.6 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

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


Key Information

  • Name: Unity Bank Plc
  • Ticker: UNITYBNK
  • Exchange: NGSE
  • Founded: 1987
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₦6.429b
  • Shares outstanding: 11.69b
  • Website: https://www.unitybankng.com

Number of Employees


Location

  • Unity Bank Plc
  • Plot 42
  • Ahmed Onibudo 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 Analysis2021/10/21 21:00
End of Day Share Price2021/10/21 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.