Banking & Finance

Zenith Bank CEO Ebenezer Onyeagbu, Added 1,000,000 More Shares

Those following along with Zenith Bank Plc will no doubt be intrigued by the recent purchase of shares by Ebenezer Onyeagbu, the Group Managing Director/Chief Executive of the lender, who spent a stonking NGN23,500,000 on stock at an average price of NGN23.50 on May 18, 2021.

In fact, the recent purchase by Ebenezer Onyeagbu was the among biggest purchase of Zenith Bank shares made by an insider individual in the last twelve months, according to our records.

Zenith Bank Plc, Group Managing Director and Chief Executive Officer, Ebenezer Onyeagwu | Brand News Day

Previous acquisitions by the GMD/CEO

The management of Zenith Bank Plc on May 14, 2021, announced that the bank’s Group Managing Director and Chief Executive Officer, Ebenezer Onyeagwu added 3 million shares of the bank to his holdings. Also, the GMD/CEO bought the 3 million shares at N22.50 per share or N67.500 million on Monday 22, March 2021 from the Nigerian Stock Exchange in Lagos, Nigeria.

This was after he bought 5 million shares at an average price of N22.41 per share or N112.050 million on Friday 19, March 2021. Bringing the total amount invested in the bank in March by Onyeagwu to N179.550 million. The GMD/CEO acquired 2 million shares at N22.25 a share before adding another 1 million shares at N22.30 per share on the same day.

Advertisement

The GMD/CEO increased his holdings by another 1.5 million shares of the bank at N22.60 a unit.

Finally, he bought 500,000 shares at N22.65 per unit to take the total purchase for that day to 5 million at an average price of N22.41 and valuation of N112.050 million.

The disclosure is in line with the Nigerian Securities and Exchange Commission (SEC) requirement that all insider dealings must be disclosed in line with the commission’s latest disclosure policy.

Advertisement

So What Does This Data Suggest About Zenith Bank’s Insiders?

It’s certainly positive to see the recent insider purchase. We also take confidence from the longer-term picture of insider transactions. Given that insiders also own a fair bit of Zenith Bank we think they are probably pretty confident of a bright future. So while it’s helpful to know what insiders are doing in terms of buying or selling, it’s also helpful to know the risks that a particular company is facing.

READ: Zenith Bank CEO Purchases Additional 662,844 Shares in the Bank

 

Advertisement
Facebook Comments
Bamidele Bukola

Bukola is a Content Developer and website manager who loves to learn, unlearn and relearn. She has a knack for exploring the tech world. She is always thirsty to learn as the tech ecosystem evolves every day.

Recent Posts

Apple Unveils iPhone 17 Air, Slick, Slimmer Than Previous Models (PHOTOS)

Apple Inc is set to present a slimmer iPhone 17 Air model, marking a potential…

2 weeks ago

Six-Year-Old Ella Shoots, Kills American Police Officer In Mother’s Defense

A six-year-old girl, Ella, fatally shot a 28-year-old American police officer last month after witnessing…

2 weeks ago

LIRS Urges Taxpayers To Meet March 31 Deadline For Annual Tax Return Submission

The Lagos State Internal Revenue Service (LIRS) reminds all individual taxpayers, including self-employed individuals, those…

2 weeks ago

Stanbic IBTC Bank Partners Autochek To Boosts Car Ownership, Disburses N4Bn

Stanbic IBTC Bank, a prominent financial institution in Nigeria, has partnered with Autochek, an innovative…

3 weeks ago

Stanbic IBTC PMI®: Output Growth Accelerates To Fastest In Just Over One Year

The headline figure derived from the survey is the Stanbic IBTC PMI® - Purchasing Managers’…

3 weeks ago

Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions…

3 weeks ago

This website uses cookies.