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Al Rajhi Bank closes at lowest level since May 2021
23/10/2023
Argaam Exclusive
AI Summary
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Shares of Al Rajhi Bank sank to their lowest price since May 2021, at SAR 63.10, today, Oct. 23.
| Year High (SAR) | Year Low (SAR) |
| 58.87 | 42.07 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 78.27 | 1.44 |
The stock closed 1% lower at SAR 63.50, hitting a fresh low since May 17, 2021, with 5.9 million shares traded.
Accordingly, the stock lost 16% year-to-date and 11% during the last three months.
Market Data :
| Open | 67.10 |
| Low | 66.75 |
| High | 67.35 |
| Previous Close | 67.20 |
| Change (3M) | (1.07 %) |
| Change (6M) | 4.45 % |
| Market Value | 400,500.00 |
| Avg. Volume (3M) | 6,674,339.86 |
| Avg. Turnover (3M) | 458,650,167.50 |
| Avg. Transaction (3M) | 11,551.22 |
| Change(12M) | 9.42 % |
| YTD | 2.69 % |
The lender increased its capital nine times by issuing bonus shares, as indicated in the following table:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2026 | Bonus Shares | 60,000.00 | 50.00% |
| 2022 | Bonus Shares | 40,000.00 | 60.00% |
| 2019 | Bonus Shares | 25,000.00 | 53.85% |
| 2014 | Bonus Shares | 16,250.00 | 8.33% |
| 2008 | Bonus Shares | 15,000.00 | 11.11% |
| 2007 | Bonus Shares | 13,500.00 | 100.00% |
| 2006 | Bonus Shares | 6,750.00 | 50.00% |
| 2005 | Bonus Shares | 4,500.00 | 100.00% |
| 1998 | Bonus Shares | 2,250.00 | 50.00% |
| 1991 | Bonus Shares | 1,500.00 | 100.00% |
Financial Performance :
Overview :
The bank was established as an exchange house in 1957. In 1978, the various sole proprietorships bearing Alrajhi name were consolidated under Al Rajhi Trading and Exchange Corporation. A decade later, the entity was formally established as a Saudi joint-stock company under the name Al Rajhi Banking and Investment Corporation. The bank subsequently began operating under its current name, Al Rajhi Bank, starting in 2006.
The bank provides a range of banking and investment services across five c...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 400,500.40 |
| Shares Outstanding ((M)) | 6,000.00 |
| Recurring EPS ( Riyal) (TTM) | 4.27 |
| Book Value (BV) ( Riyal) (Latest announcement) | 20.13 |
| Recurring P/E (TTM) | 15.62 |
| Price/book | 3.32 |
| Dividend Yield (%) (Last Year) | 2.50 |
| Return on Average Assets (%) (TTM) | 2.47 |
| Return on Average Equity (%) (TTM) | 22.71 |
| EPS Diluted ( Riyal) | 4.02 |
| Par Value ( Riyal) | 10.00 |
Calendar :
-
08 November
General Assembly
- -
24 March
Ex-dividend Date
- -
24 March
General Assembly
- -
03 April
Cash Dividend Distribution
- -
12 August
Ex-dividend Date
- -
26 August
Cash Dividend Distribution
-
Analyst Estimates :
55.05
Fair Average Price
4
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Under Review | U-Capital | 42.67 | - | ||
| Overweight | AlJazira Capital | 48.20 | 57.14 | 18.53 % | |
| Neutral | Citi Bank Group | 48.40 | 53.34 | 10.19 % | |
| Neutral | Riyad Capital | 49.27 | 54.67 | 10.96 % |
Call Request
Comments Analysis: