NCB shoots to $19 falls back to $18.15

Investors responded well to the National Commercial Bank’s year end results, showing earnings of $4.73 per share and with a surprise announcement, of a final dividend, of 96 cents per share.
The stock immediately traded at $17.75 at the opening of the market, and at $17.99 with the purchase of 448,385 shares. Later it traded just 12,412 units at $18.75 and 1,700 at $19 and then fell back to $18.15. Bids to buy start at $18.20 at the high end then $18.15, then $18.10 with a small amount at $18.05 then at $18, an amount of 147,000 units. The lowest offer is now at $20 with 29,918 units then the next serious offer is at $24. The total amount to trade so far is 475,780 units. The stock has room to move much further over the next twelve months with IC Insider’s forecast of $5.50 earnings per share for 2015 and the PE of the stock at 3.8 based on this year’s results. that is one reason why IC Insider gave the stock a Buy Rated status.
The price gain helped to move the All Jamaica Composite index up 521.71 to 81,121.66.