TTSE: Trading picks up with $33m

Wednesday, 15th January 2014 | Trading activity picked up strongly on the Trinidad Stock market with trading in 16 securities of which 6 advanced, 1 declined and 9 traded firm as $$32,858,058 chased 676,587 shares.

All three indices gained during trading with the Composite Index moving up by 3.14 points and closed at 1,193.29, the All T&T Index advanced by 5.28 points to close at 2,009.81 and the Cross Listed Index inched up .13 points to 49.49.

Stocks advancing | The main trades to take place reflecting gains include First Citizens Bank which added 48,382 units valued at $2,056,291 with the price hitting yet another high, increasing by 20 cents to $42.60; Grace Kennedy gained 17 cents to end the day at $3.62 with 30,456 units; IC Insider Buy Rated Neal & Massy Holdings jumped $1.38 to end the day at $62 a new 52 weeks high with 3,35 shares changing hands; Scotiabank traded a relatively large volume of 103,134 shares for $7,539,163 with the price reaching a new 52 weeks high of $73.10 up 9 cents.

Angostura Holdings traded 13,098 units falling a cent to end the day at $11.99.

TTSEJan15Stocks traded firm | ANSA McAL closed at $66.30 with 250,000 shares changing hands for a value of $16,574,982; National Flour Mills contributed 103,070 shares with a value of $98,947 and the price closed at 96 cents; West Indian Tobacco 45,257 shares at $120; Sagicor Financial Corporation 41,691 shares at $7.30; Jamaica Money Market Brokers 10,000 shares at 50 cents; Guardian Media 3,609 shares at $19.50; Trinidad Cement, traded just 10,503 units to end at $2.30.

Clico Investment Fund, traded 10,785 shares valued at $242,663 but the price remained at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids that were higher than the last selling prices and 4 stocks with offers that were lower.

TTSE: Market moving up slowly

Tuesday, 14th January 2013 | In trading on the Trinidad stock market, the Composite Index advanced by 0.57 points to close at 1,190.15; the All T&T Index gained 1.14 points to end at 2,004.53 while the Cross Listed Index remained unchanged at 49.36.

Trading activity resulted in 962,928 shares changing hands for a value of $34,050,938.

There were 14 securities trading on a day when there were two new 52 weeks highs and the price of 6 stocks advanced, 3 declined and 5 remained unchanged.

Stocks trading up in price include First Citizens Bank that reached yet another record closing high at $42.40 for a gain of 70 cents as investors traded 646,214 shares for a value of $27,237,021; Clico Investment Fund posted a volume of 206,562 shares valued at $4,646,748 with the price advancing by 25 cents to end at $22.50; Scotia Group gained 24 cents for a new 52 weeks high of $73.01 and Neal & Massy 2,125 units up 4 cents at $60.62.

Stocks declining include Angostura Holdings that fell 43 cents to close at $12.00; Point Lisa 5,845 units at $3.60 down by 5 cents, and Trinidad Cement off by 3 cents at $2.27.

Stocks trading unchanged include Guardian Holdings 4,101 units to close at $13.75; Jamaica Money Market Brokers with a volume of 39,340 shares being traded for $19,670 closing at 50 cents; National Flour Mills contributed 16,109 shares with a value of $15,464.64, while Trinidad Cement added 14,500 shares valued at $32,850.00.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 2 stocks with offers lower.

TTSE: Market slowly moving forward

Monday, 13th January 2013 | Market activity on the Trinidad Stock Exchange resulted from trading in 12 securities of which 2 advanced, 1 declined and 9 traded firm with 165,421 stock units changing hands for a value of $1,691,972.

The Composite Index advanced by 0.58 points to close at 1,189.58. The All T&T Index advanced by 1.18 points to close at 2,003.39 and the Cross Listed Index remained at 49.36.

The market saw price movement in a number of stocks which include Angostura Holdings as the price  lost a cent to end the day at $12.43 with 1,978 units trading. First Citizens Bank gained 16 cents to close at $41.70, a new high, while trading 10,135 shares.  Trinidad Cement added 13,522 shares valued at $31,101 with the price closing at $2.30 as it gained 5 cents.

Stocks trading unchanged include Agostini’s with 1,381 units trading at $17.80; Grace Kennedy 14,010 shares with a value of $48,335 as the price closed at $3.45; Jamaica Money Market Brokers, 53,848 shares changing hands for a value of $26,924 with the price closing at 50 cents; Prestige Holdings exchanged 44,573 shares for $421,125 as the price closed firm at $9.45; Scotia Investments 7,000 units to close at $1.50; West Indian Tobacco 2,864 units, closing at $120.00; and Sagicor Financial Corporation, 1,300 units at $7.30.

TTSEJan13Clico Investment Fund posted a volume of 14,800 shares valued at $329,362 as the price remained at $22.25.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 3 stocks with offers lower.

First Citizens doubles in 5 months

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When Trinidad’s First Citizens Bank stock price hit $41.54 on Friday 10th January, investors who bought shares at the initial public issue price and held until this week doubled their money in just over 5 months. The stock price gained 89 percent from the initial IPO price of $22 per shares in August. The bank declared a $1.09 per share final dividend to be paid January 24, to shareholders on record as of December 31, 2013, the Ex-dividend Date is December 27.

The dividend equivalent to a 12 percent rate of return on the IPO price, when added to the return of the stock price for persons, who got shares at the IPO price and held, have seen a 100 percent gain on their investment.

The dividend policy of the First Citizens Bank enunciated in the propectus is to distribute to its ordinary shareholders funds surplus to the operating capital and strategic requirements of the Group, as determined by the Directors, with an annual target dividend pay-out percentage range of 45 to 55 percent of net profit after-tax. The 2013 dividends translates to around $273 million versus $263 million paid for 2012.

The bank reported profits of $742 million before tax and $606.5 million after tax compared to 2012 pre-tax profit of $714 million and $446 million after tax but the big increase after tax is due to tax adjustment in 2012 that depressed the after-tax profit. Based on the 2013 results IC Insider return the stock to the BUY RATED list and project the stock price to exceed $50 per share during the course of 2014.

First Citizens Bank is an ICInsider Buy Rated stock. To view the full list, click here.

Related posts | First Citizens paying 12% dividend | First Citizens staff lose huge paydayFirst Citizens’ $1B IPO opens today

Buy Rated: Active price movements

Friday, 10th January 2014 | Price changes saw 9 of the Buy Rated stock selection gaining during the week and 13 declining.

On the Jamaica Stock Market, the largest move was by Pan Jamaica Investment falling from $54 last week to $48.13 at the end of the week. Jamaican Teas fell 10 percent on small volume, back to $3.60. Grace Kennedy fell by 45 cents to $54.05; Hardware & Lumber dropped 9 percent from $8.down to $7.28, Lasco Manufacturing ended down 6 percent as the stock shed 8 cents to end at $1.20.

The week was not without its winners. Caribbean Producers put on 5 cents or 2 percent to close the week at $2.75 and is up 35 percent so far. General Accident is up only 2 percent since selection but gained 9 cents or 5 percent during the week.

BuyRated10JanLasco Distributors gained 10 cents for a gain of 8 percent; Carib Cement, in making it relentless climb from obscurity, hit $4 this week but only held on to $3.80 at the end for a week’s gain of 30 cents or 9 percent. The stock is up 41 percent so far. National Commercial Bank put on 80 cents or 5 percent for the week but is still under water since selection at 12 percent.

In Trinidad, First Citizens Bank climbed to the $50 forecast level and put on 91 cents in the week. Neal & Massy gained 55 cents in the week as it is gradually gaining traction with its price moving forward.

Related posts | Buy Rated: H&L up 74%

PE Ratio: First Citizens have more to do

Friday, 10th January 2014 | During the past week on the Trinidad Stock Exchange, there were a number of companies that reached 52 weeks highs, but only First Citizens and Neal and Massy make any sizeable price movements in the week.

As such the PE chart remains roughly unchanged from the week before and continues to beckon investors to take advantage of the opportunities in that market to make above average returns.

PE+RatioJan10First Citizens continues a relentless run toward what IC Insider sees as a target price of $50-60 this year. Others that we have recommended as good buys continue to increase in price but slowly. These include Republic Bank, Trinidad Cement, to name a few.

Related posts | First Citizens doubles in 5 months | Buy Rated: Active price movements 

TTSE: First Citizens closes week on a high

Friday, 10th January 2014 | First Citizens Bank price hit a new all-time high at $41.54 and Scotia Bank closed at new 52 weeks high at the end of trading.

Trading on the Trinidad & Tobago Stock Exchange ended the week on a positive note with 13 securities of changing hands, 8 advanced, 2 declined and 3 traded firm. The Composite Index advanced by 2.04 points to close at 1,189.00, the All T&T Index gained 4.11 points to end at 2,002.21 and the Cross Listed Index remained at 49.36. Trading resulted in a volume of 132,005 shares valued at $2,068,459 changing hands.

The most heavily traded stocks were First Citizens Bank with 26,287 units carrying a value of $1,090,383 as the price closed at $41.54 having gained 51 cents at the end of trading; Guardian Holdings traded 3,262 units fell 5 cents to end at $13.75; Jamaica Money Market Brokers had 44,500 shares changing hands for a value of $22,250 and the price closed at 50 cents without changing; while National Flour Mills added 5,300 shares valued at $5,088 and closed at 96 cents; Neal & Massy Holdings increased by 54 cents to end the day at $60.56 while trading 2,000 shares; Prestige Holdings lost 5 cents to end the day at $9.40 while trading 2,071 shares; Sagicor Financial Corporation contributed 12,634 shares with a value of $92,228 as the price closed unchanged at $7.30.

TTSEJan10Clico Investment Fund had 27,753 shares changing hands for $617,379, the price held firm to end at $22.25.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 1 stock with a bid higher than the last selling prices and 1 stock with a lower offer.

TTSE: Quiet day but Citizens moves up

Thursday, 9th January 2013 | Market activity on the TTSE resulted in 11 securities trading with 2 advancing, 4 declining and 5 traded firm.

The indices were mixed at the end of trading with the Composite Index declining by 0.36 points to close at 1,186.96, the All T&T Index advanced by 0.13 points to finish at 1,998.10 and the Cross Listed Index declined by 0.11 points to end at 49.36. Trading accounted for 422,006 shares valued at $3,015,608.

The main stocks to trade include First Citizens Bank with 3,975 units as the price gained 16 cents to end the day at $41.02; Guardian Holdings recorded 14,747 shares with the price shedding 10 cents to close at $13.80; Jamaica Money Market Brokers with 200,000 shares changing hands for a value of $100,000, the price closed at 50 cents; National Commercial Bank added 27,772 shares valued at $30,549; Republic Bank 1,877 units pushed the price to $116.08, an increase of 2 cents; Sagicor Financial Corporation contributed 36,000 shares with a value of $262,800, closing firm at $7.30 and Trinidad Cement with 50,000 shares at $2.25 each for a total value of $112,500.

TTSEJan9Clico Investment Fund traded 86,398 shares valued at $1,921,699 the price declined by 23 cents to end at $22.25.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator had 8 stocks with bids higher than the last selling prices and 1 stock with a lower offer.

TTSE: Jamaican stocks dominate market

Wednesday, 8th January 2014 | Jamaican stocks were the dominant volume players in the T&T market today when 366,706 shares changed hands for a value of $2,719,776. Market activity resulted in in 11 securities trading, 2 advanced, 2 declined and 7 traded firm.

The two main indices just barely inched up with the Composite Index advancing by 0.05 points to close at 1,187.32, the all T&T Index moved up by 0.09 points to close at 1,997.97 while there was no change to the Cross Listed Index that remained at 49.47.

Jamaica Money Market Brokers traded firm at 51 cents as 200,000 shares changed hands for the consideration of $102,000; National Commercial Bank with a volume of 102,521 shares being traded for $113,798, the price closed unchanged at $1.11; Republic Bank exchanged 7,513 units with the price increasing 6 cents to end the day at $116.06; Scotia Investments contributed 28,109 shares with a value of $42,117.50 to close firm at $1.50; while Sagicor Financial added 13,500 shares valued at $98,550.00 closing at $7.30; West Indian Tobacco had 10,965 units trading firm at $120.

TTSEJan8IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling prices versus only 1 stock with a lower offer.

TTSE: Market traded moderately

Tuesday, 7th January 2013 | Trading occurred in 15 securities, 2 advanced, 8 declined and 5 traded firm on the TTSE with 186,385 shares changing hands valued at $5,544,694. First Citizens Bank closed at new 52 weeks high at the end of trading.

The Composite Index was unchanged at the end of the day of trading at 1,187.27, the All T&T Index declined by 0.12 points to close at 1,997.88 and the Cross Listed Index advanced by 0.02 points to close at 49.47.

Angostura Holdings traded 51,000 shares for $635,853 as the price closed up 2 cents to $12.47; ANSA Mcal added 19,441 shares valued at $1,288,938 it lost 20 cents to close at $66.30; First Citizens Bank ended the day at $40.86 as the price increased by 1 cent as 12,736 units were traded valued at $520,393; National Commercial Bank switched 10,000 units to close firm at $1.11; Point Lisas Industrial Port traded 5,000 units and lost 5 cents in closing at $3.65; Republic Bank contributed 23,979 shares with a value of $2,781,564 as the price close firm at $116; Sagicor Financial traded 6,000 units firm at $7.30; Scotiabank traded just 874 units to close unchanged at $72.75; Trinidad Cement saw 51,229 shares changing hands for a value of $115,265, the price remained unchanged at $2.25.

TTSEJan7Clico Investment Fund only traded 42 shares and declined by a cent to end at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling prices versus only 1 stock with a lower offer.

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