Zenith Bank Plc boosted shareholders’ value with a 39% gain year to date. The tier-1 bank, however, underperformed the Nigerian Exchange with 49% year-to-date ahead of the holiday.
However, the below NGX index performance was compensated for due to an interim dividend that Zenith Bank paid to shareholders amidst earnings-dilutive regulatory developments.
It suffices to say that no tier-1 lender stock market performance beat the NGX index except First Holdco, which got re-rated following a fast and furious rally.
First Holdco now stands as the best performer, outpacing the market index, though the group did not pay an interim dividend as pressure from forbearance withdrawal impacts its book.
MarketForces Africa reported that Zenith Bank paid shareholders N1.25 as an interim dividend for 2025, a decision to ensure a smooth profit distribution policy that attracted investors.
Zenith Bank shares traded at N63.30 at the last trading session pre-Santa Claus, below Meristem Securities Limited’s equity analysts’ target price of N88.89.
The investment firm said the bank continues to demonstrate robust performance, having surpassed N3 trillion in revenue as of 9M- 2025, supported by a solid loan book.
Zenith Bank planned expansion into additional African markets, and the bank’s growth trajectory remains compelling. Due to this, analysts at Meristem Securities guide investors to buy Zenith Bank with 40.42% upside potential.
Afrinvest Securities Limited appeared strongly bullish on the bank, with 52.2% upside potential estimated on the target price of N96.36 per share, according to its latest stock recommendation report.
Zenith Bank Plc’s 41.069 billion shares outstanding were valued at N2.587 trillion on the Nigerian Exchange at the close of the market last week, about a 20% discount to its highest valuation in 52 weeks.
In disclosure, Zenith Bank said as part of its long-term strategic growth agenda, it is currently exploring various regional expansion opportunities—including within East Africa.
The bank said regulatory engagement has been initiated with respect to achieving the above objective, including but not limited to the acquisition of any financial institution within the East Africa region.
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