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Al Rajhi Bank records highest close since June 2022
07/11/2024
Argaam Exclusive
AI Summary
Content Summary:
AI Summary
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Please note that this news summary has been generated using artificial intelligence. It is recommended to review the original
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Shares of Al Rajhi Bank gained 2% today, Nov. 7, reaching SAR 92.70n to mark highest close in two and a half years (June 2022).
The stock hit an intraday high of SAR 93.
| Year High (SAR) | Year Low (SAR) |
| 62.00 | 46.54 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 78.27 | 1.44 |
Therefore, the stock has gained approximately 30% in 12 months.
Market Data :
| Open | 67.65 |
| Low | 66.70 |
| High | 67.70 |
| Previous Close | 67.65 |
| Change (3M) | (6.15 %) |
| Change (6M) | (1.45 %) |
| Market Value | 401,700.00 |
| Avg. Volume (3M) | 6,064,869.04 |
| Avg. Turnover (3M) | 419,480,671.54 |
| Avg. Transaction (3M) | 9,880.56 |
| Change(12M) | 5.04 % |
| YTD | 2.99 % |
Al Rajhi Bank made several changes to its capital as follows:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2026 | Split | 60,000.00 | 50.00% |
| 2022 | Split | 40,000.00 | 60.00% |
| 2019 | Split | 25,000.00 | 53.85% |
| 2014 | Split | 16,250.00 | 8.33% |
| 2008 | Split | 15,000.00 | 11.11% |
| 2007 | Split | 13,500.00 | 100.00% |
| 2006 | Split | 6,750.00 | 50.00% |
| 2005 | Split | 4,500.00 | 100.00% |
| 1998 | Split | 2,250.00 | 50.00% |
| 1991 | Split | 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) | 401,700.40 |
| Shares Outstanding ((M)) | 6,000.00 |
| EPS ( ) (TTM) | 4.27 |
| Book Value (BV) ( Riyal) (Latest announcement) | 20.13 |
| Recurring P/E | 15.67 |
| Price/book | 3.33 |
| Dividend Yield (%) (Last Year) | 2.49 |
| 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 :
-
13 April
General Assembly
- -
13 April
Ex-dividend Date
- -
24 April
Cash Dividend Distribution
- -
22 September
Ex-dividend Date
- -
02 October
Cash Dividend Distribution
- -
20 April
Ex-dividend Date
-
Analyst Estimates :
62.19
Fair Average Price
17
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Buy | EFG-Hermes | 58.80 | 70.00 | 19.05 % | |
| Neutral | Riyad Capital | 56.60 | 54.67 | (3.42 %) | |
| Neutral | SNB Capital | 57.67 | 54.60 | (5.32 %) | |
| Overweight | AlJazira Capital | 56.60 | 68.00 | 20.14 % | |
| Neutral | Riyad Capital | 57.20 | 54.67 | (4.43 %) | |
| Neutral | Sico | 56.00 | 64.00 | 14.29 % | |
| Buy | EFG-Hermes | 57.14 | 70.00 | 22.52 % | |
| Overweight | AlJazira Capital | 53.40 | 68.00 | 27.34 % | |
| Hold | United Securities Company | 59.14 | 61.34 | 3.72 % | |
| Neutral | Citi Bank Group | 59.14 | 65.67 | 11.05 % | |
| Buy | Bank of America | 59.00 | 74.00 | 25.42 % | |
| Overweight | Morgan Stanley International | 58.74 | 70.67 | 20.32 % | |
| Hold | Arqaam Capital | 59.07 | 49.00 | (17.04 %) | |
| Hold | HSBC | 59.07 | 58.34 | (1.24 %) | |
| Neutral | JP Morgan | 59.40 | 62.67 | 5.50 % | |
| Hold | Goldman Sachs | 59.40 | 51.54 | (13.24 %) | |
| Hold | FAB Securities | 55.87 | 60.00 | 7.40 % |
Call Request
Comments Analysis: