OCEANIC BANK First BANK stock analysis post merger talk collapse

  • Forbearance
  • Repayment Plan
  • Loan Modification
  • Short Sale
  • Deed-in-Lieu
  • All workout options are available to borrowers who are in default.
  • Vacant or abandoned properties are not eligible for reinstatement options.Bank of America Loan Modification

    Before we start analysing the stock performance of First Bank Plc and Oceanic Bank Plc, we must review the happenings in the period we are considering in the Nigerian banking sector. Now we take a look at stock performance of First Bank Plc and Oceanic Bank Plc in detail.

    First Bank of Nigeria Plc

    First Bank stock had been falling much before they decided against investing in Oceanic Bank. On January 20, First Bank stock spiked at N 16.12 led by unusually high trade volume of 176 million shares.

    First Bank is a top bank in Nigeria. If the management of First Bank decided against investing in Oceanic Bank, they probably had very good reasons to do so. However First Bank stock could recover from this position.

    Oceanic Bank Plc

    On April 21, the stock closed at N 1.72.

    The news of collapse of merger talks definitely had an impact on Oceanic Bank as its stock has fallen 15% since April 12.

    Oceanic Bank’s stock price currently depends upon the news of possible mergers. Our target price for this stock stock is N 2.20 for 2011.