Where has NCB supply gone?

NCB Financial closed at a record price of $130 on Thursday, with the price gaining 24 percent since August 20 when it traded at $105 but was trading in the $120 level in Trinidad and Tobago.
The stock current trades on the Trinidad & Tobago Stock Exchange at TT$5.68, the equivalent of J$115.

A number factors are behind the aggressive move. The group reported impressive third quarter results, supply of the stock declined sharply as demand sucked out the available supplies. Interest rates locally plummeted to less than 2 percent on Treasury bills and the system remains very liquid. The lower interest rates have been slowly driving the PE of the market upwards and NCB Financial Group which was selling around a PE of 10 seems to have been considered cheap. The average PE of the market is just over 14, on this basis NCB could be considered reasonably priced around $140-150 range, in the short term. With the absence of supply, it will be any one’s guess where the near term top will be.