Nedbank Group (NED) Stock Overview
Provides various wholesale and retail banking services in South Africa, rest of Africa, Europe, Asia, the United States, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 4/6 |
| Past Performance | 2/6 |
| Financial Health | 4/6 |
| Dividends | 4/6 |
NED Community Fair Values
Create NarrativeSee what 39 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Nedbank Group Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | R270.99 |
| 52 Week High | R318.39 |
| 52 Week Low | R206.06 |
| Beta | 0.39 |
| 1 Month Change | 4.03% |
| 3 Month Change | 1.13% |
| 1 Year Change | 15.79% |
| 3 Year Change | 20.98% |
| 5 Year Change | 71.29% |
| Change since IPO | 1,637.13% |
Recent News & Updates
Narrative Update • Jul 02
NED: Lower P/E Assumptions Will Support Future Upside Potential
Analysts have reduced their fair value estimate for Nedbank Group to ZAR379.29 from ZAR392.11, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E multiples. What’s in the News for Nedbank Group No recent Nedbank Group specific news items were available from the provided sources.
Narrative Update • Jun 17
NED: Future Returns Will Improve As Earnings Delivery Supports Higher Fair Value
Analysts have slightly reduced their price target for Nedbank Group to ZAR308.72 from ZAR310.61, reflecting small adjustments to assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. What’s in the News for Nedbank Group No recent Nedbank Group specific news items were provided in the primary sources.
Narrative Update • Jun 03
NED: Neutral Stance And Ownership Shift Will Shape A Cautious Outlook
Analysts kept their ZAR 275.00 price target for Nedbank Group unchanged, pointing to slightly firmer revenue growth, a marginally higher profit margin and a small adjustment to the discount rate and future P/E assumptions following recent research, including a Neutral stance reinstatement from Goldman Sachs. What's in the News Lazard Asset Management LLC completed the acquisition of an additional 5% stake in Nedbank Group Limited (JSE:NED) on March 6, 2026, bringing its total holding to 5.344%.Narrative Update • May 19
NED: Neutral Reinstatement And Guidance Will Frame A Cautious Forward Outlook
Analysts have kept their fair value estimate for Nedbank Group steady at ZAR275.00, citing only minor model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions following a recent Neutral rating update from the Street. Analyst Commentary Recent Street research, including a Neutral reinstatement from Goldman Sachs, has reinforced a cautious tone around Nedbank Group.Narrative Update • May 02
NED: Neutral Reinstatement And Earnings Guidance Will Shape A More Cautious Outlook
Analysts have maintained their ZAR 275.00 price target for Nedbank Group, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E that are broadly in line with recent Street research, including the latest neutral stance. Analyst Commentary Recent Street research, including the Neutral initiation at Goldman Sachs, points to a more measured outlook for Nedbank Group.Narrative Update • Apr 18
NED: Future Returns Will Improve As Earnings Delivery Supports Higher Fair Value
The analyst price target for Nedbank Group has shifted from ZAR293.64 to about ZAR310.61, with analysts pointing to updated assumptions around revenue growth, profit margins, discount rate and future P/E, as well as mixed recent research views following a Neutral reinstatement and a downgrade. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated assumptions on revenue growth and profit margins as consistent with a business that they see as capable of supporting the higher target price of about ZAR310.61, even after factoring in a revised discount rate and future P/E.Recent updates
Narrative Update • Jul 02
NED: Lower P/E Assumptions Will Support Future Upside Potential
Analysts have reduced their fair value estimate for Nedbank Group to ZAR379.29 from ZAR392.11, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E multiples. What’s in the News for Nedbank Group No recent Nedbank Group specific news items were available from the provided sources.Narrative Update • Jun 17
NED: Future Returns Will Improve As Earnings Delivery Supports Higher Fair Value
Analysts have slightly reduced their price target for Nedbank Group to ZAR308.72 from ZAR310.61, reflecting small adjustments to assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. What’s in the News for Nedbank Group No recent Nedbank Group specific news items were provided in the primary sources.Narrative Update • Jun 03
NED: Neutral Stance And Ownership Shift Will Shape A Cautious Outlook
Analysts kept their ZAR 275.00 price target for Nedbank Group unchanged, pointing to slightly firmer revenue growth, a marginally higher profit margin and a small adjustment to the discount rate and future P/E assumptions following recent research, including a Neutral stance reinstatement from Goldman Sachs. What's in the News Lazard Asset Management LLC completed the acquisition of an additional 5% stake in Nedbank Group Limited (JSE:NED) on March 6, 2026, bringing its total holding to 5.344%.Narrative Update • May 19
NED: Neutral Reinstatement And Guidance Will Frame A Cautious Forward Outlook
Analysts have kept their fair value estimate for Nedbank Group steady at ZAR275.00, citing only minor model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions following a recent Neutral rating update from the Street. Analyst Commentary Recent Street research, including a Neutral reinstatement from Goldman Sachs, has reinforced a cautious tone around Nedbank Group.Narrative Update • May 02
NED: Neutral Reinstatement And Earnings Guidance Will Shape A More Cautious Outlook
Analysts have maintained their ZAR 275.00 price target for Nedbank Group, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E that are broadly in line with recent Street research, including the latest neutral stance. Analyst Commentary Recent Street research, including the Neutral initiation at Goldman Sachs, points to a more measured outlook for Nedbank Group.Narrative Update • Apr 18
NED: Future Returns Will Improve As Earnings Delivery Supports Higher Fair Value
The analyst price target for Nedbank Group has shifted from ZAR293.64 to about ZAR310.61, with analysts pointing to updated assumptions around revenue growth, profit margins, discount rate and future P/E, as well as mixed recent research views following a Neutral reinstatement and a downgrade. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated assumptions on revenue growth and profit margins as consistent with a business that they see as capable of supporting the higher target price of about ZAR310.61, even after factoring in a revised discount rate and future P/E.Narrative Update • Apr 04
NED: Neutral Stance And Earnings Guidance Compression Will Shape A More Cautious Outlook
Analysts have adjusted their fair value estimate for Nedbank Group to ZAR275.00 from ZAR259.94, reflecting updated views on long term growth, profitability and a higher forward P/E. This change is framed by recently mixed research that includes a Neutral reinstatement and a downgrade.Narrative Update • Mar 20
NED: Mixed Ratings And Fair Value Reset Will Support Future Upside
Nedbank Group's analyst fair value estimate has shifted slightly from ZAR390.99 to ZAR392.11 as analysts factor in updated assumptions on revenue growth, profit margins and forward P/E multiples following recent Neutral and more cautious ratings from the Street. Analyst Commentary Recent Street research on Nedbank Group has been mixed, with some firms taking a more cautious tone while others reassess fair value and rating stances.Narrative Update • Mar 06
NED: Earnings Guidance Compression Will Shape A More Cautious Bearish Outlook
Nedbank Group's analyst price target shifts from ZAR255.00 to about ZAR259.94, with analysts citing updated assumptions on revenue growth, profit margins, and a slightly lower future P/E as key factors behind the change. Analyst Commentary Bearish analysts are framing the latest price target revision as a relatively modest adjustment that still reflects several underlying concerns about Nedbank Group's risk and reward profile.Narrative Update • Feb 20
NED: Higher Fair Value And Settlement Resolution Will Support Future Upside
Analysts have lifted their ZAR fair value estimate for Nedbank Group from ZAR 375.74 to ZAR 390.99, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E, even as some recent research has turned more cautious on the shares. Analyst Commentary Recent research is mixed, with some research turning more cautious on Nedbank Group even as the updated ZAR 390.99 fair value points to a more constructive view on the shares overall.Narrative Update • Feb 06
NED: Bearish Downgrades And Legal Settlement Will Shape A Cautious Fair Outlook
Nedbank Group's analyst fair value target is unchanged at R255.00 per share, with a slight adjustment in the discount rate and future P/E, reflecting a more cautious stance from some analysts following recent research downgrades. Analyst Commentary Bearish analysts are taking a more cautious stance on Nedbank Group, reflected in recent research downgrades and a shift toward lower valuation assumptions.Narrative Update • Jan 23
NED: Higher Fair Value Will Sit Beside Bearish Downgrade And Legal Settlement
Analysts have raised their fair value estimate for Nedbank Group from R239.00 to R255.00 per share. This reflects updated views on revenue growth, discount rate assumptions, profit margins and future P/E expectations, despite some recent bearish Street research.Narrative Update • Jan 09
NED: Settlement Payment And Lower Risk Profile Will Support Future Upside
Analysts have raised their price target on Nedbank Group to R375.74 from R359.06, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E as the key drivers of the change. What's in the News Nedbank Group and Transnet SOC Limited have reached a confidential commercial settlement on their ongoing litigation related to interest rate swap transactions, with no admission of liability by either party.Narrative Update • Dec 21
NED: Future Returns Will Improve As Legal Settlement Clears Major Overhang
Narrative Update Analysts have nudged their fair value estimate for Nedbank Group higher to approximately R293.64 from about R288.63 per share. This reflects slightly improved long term valuation assumptions, despite marginal downward revisions to revenue growth and profit margin forecasts, along with a modestly higher expected future P/E multiple.Narrative Update • Dec 07
NED: Future Profitability Will Improve Despite Once Off Legal Settlement
Nedbank Group's analyst price target has been raised modestly from R283.85 to R288.63, as analysts factor in slightly stronger projected profitability and a marginally higher future earnings multiple, despite largely unchanged growth and discount rate assumptions. What's in the News Nedbank Group and Transnet SOC Limited have reached a confidential commercial settlement to end their long running litigation over interest rate swap transactions.Narrative Update • Nov 23
NED: Margins Are Expected To Improve While Recovery Uncertainty Remains
Nedbank Group's analyst price target has increased from ZAR 277.58 to ZAR 283.85, as analysts anticipate improved profit margins and a slightly lower discount rate. This comes despite recent downward earnings revisions following softer first half results.Narrative Update • Sep 20
Digital Banking And African Expansion Will Unlock Future Potential
Nedbank Group's consensus price target saw a slight decrease to ZAR277.58 as both the future P/E and discount rate remained virtually unchanged, indicating stable fundamental expectations. What's in the News Nedbank Group declared an interim dividend of 1,028 cents per ordinary share for the six months ended 30 June 2025, resulting in a net dividend of 822.4 cents per share after 20% withholding tax.Narrative Update • Sep 04
Digital Banking And African Expansion Will Unlock Future Potential
As both the Future P/E and Net Profit Margin for Nedbank Group remained stable, analysts have left their consensus price target unchanged at ZAR282.27. What's in the News Nedbank Group declared an interim dividend of 1,028 cents per ordinary share, resulting in a net dividend of 822.4 cents per share after dividend tax for the six months ended 30 June 2025.Analysis Article • Aug 22
Nedbank Group (JSE:NED) Has Announced A Dividend Of ZAR10.28
Nedbank Group Limited ( JSE:NED ) has announced that it will pay a dividend of ZAR10.28 per share on the 8th of...Analysis Article • Aug 08
Nedbank Group (JSE:NED) Will Pay A Dividend Of ZAR10.28
Nedbank Group Limited ( JSE:NED ) has announced that it will pay a dividend of ZAR10.28 per share on the 8th of...Analysis Article • Jul 28
Do Nedbank Group's (JSE:NED) Earnings Warrant Your Attention?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
New Narrative • Mar 09
Investment In AI And Renewable Energy Finance Will Drive Future Success
Nedbank's investment in technology and infrastructure, particularly in digitization and South African sectors, is set to enhance growth and boost revenue streams.Shareholder Returns
| NED | ZA Banks | ZA Market | |
|---|---|---|---|
| 7D | -1.0% | 2.9% | -0.8% |
| 1Y | 15.8% | 97.9% | 12.6% |
Return vs Industry: NED underperformed the ZA Banks industry which returned 97.9% over the past year.
Return vs Market: NED exceeded the ZA Market which returned 12.6% over the past year.
Price Volatility
| NED volatility | |
|---|---|
| NED Average Weekly Movement | 2.5% |
| Banks Industry Average Movement | 3.7% |
| Market Average Movement | 4.5% |
| 10% most volatile stocks in ZA Market | 9.6% |
| 10% least volatile stocks in ZA Market | 2.7% |
Stable Share Price: NED has not had significant price volatility in the past 3 months compared to the ZA market.
Volatility Over Time: NED's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1831 | 25,700 | Jason Paul Quinn | www.nedbank.co.za |
Nedbank Group Limited, together with its subsidiaries, provides various wholesale and retail banking services in South Africa, rest of Africa, Europe, Asia, the United States, and internationally. The company operates through Nedbank Corporate and Investment Banking; Nedbank Business and Commercial Banking; Nedbank Personal and Private Banking; Nedbank Africa Regions; and Centre segments. It offers lending products, advisory services, leverage financing, trading, brokering, structuring, hedging, and client coverage; corporate finance advisory, innovative financial products and services, customised transactional banking, asset management, and commercial property finance; transactional accounts, home loans, vehicle and asset finance, card services, personal loans, insurance and investments; Wealth services include trust and estate planning, stockbroking, and financial planning, as well as tailored banking and services; and franchising and manufacturing industries and public sector.
Nedbank Group Limited Fundamentals Summary
| NED fundamental statistics | |
|---|---|
| Market cap | R123.82b |
| Earnings (TTM) | R7.80b |
| Revenue (TTM) | R59.94b |
15.9x
P/E Ratio1.1x
P/B RatioIs NED overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NED income statement (TTM) | |
|---|---|
| Revenue | R59.94b |
| Cost of Revenue | R0 |
| Gross Profit | R59.94b |
| Other Expenses | R52.14b |
| Earnings | R7.80b |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
Aug 04, 2026
| Earnings per share (EPS) | 17.07 |
| Gross Margin | 100.00% |
| Net Profit Margin | 13.01% |
| Debt/Equity Ratio | 81.1% |
How did NED perform over the long term?
See historical performance and comparisonDividends
7.9%
Current Dividend Yield127%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/13 14:48 |
| End of Day Share Price | 2026/07/10 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Nedbank Group Limited is covered by 14 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ilan Stermer | Anchor Stockbrokers Proprietary Limited |
| Jaap Meijer | Arqaam Capital Research Offshore S.A.L. |
| Adrienne Damant | Avior Capital Markets |