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Al Rajhi Bank records highest close since May 2022
29/01/2025
Argaam Exclusive
AI Summary
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Shares of Al Rajhi Bank gained 2% today, Jan. 29, reaching SAR 100.40 to mark highest close since May 2022.
The stock was traded at about 15 million shares, worth SAR 1.5 billion.
Before start of trading today, the bank announced its financial results for the fourth quarter of 2024, which came in above market expectations. The blue-chip lender also proposed cash dividends to shareholders.
| Year High (SAR) | Year Low (SAR) |
| 100.60 | 75.50 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 117.40 | 2.16 |
Market Data :
| Open | 98.40 |
| Low | 97.85 |
| High | 98.95 |
| Previous Close | 97.75 |
| Change (3M) | 6.00 % |
| Change (6M) | 5.60 % |
| Market Value | 395,800.00 |
| Avg. Volume (3M) | 4,082,896.81 |
| Avg. Turnover (3M) | 419,709,356.59 |
| Avg. Transaction (3M) | 9,416.42 |
| Change(12M) | 5.04 % |
| YTD | 4.60 % |
Al Rajhi Bank made several changes to its capital as follows:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 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) | 395,800.40 |
| Shares Outstanding ((M)) | 4,000.00 |
| EPS ( ) (TTM) | 5.98 |
| Book Value (BV) ( Riyal) (Latest announcement) | 27.19 |
| Recurring P/E | 16.54 |
| Price/book | 3.64 |
| Dividend Yield (%) (Last Year) | 2.74 |
| Return on Average Assets (%) (TTM) | 2.44 |
| Return on Average Equity (%) (TTM) | 23.50 |
| EPS Diluted ( Riyal) | 5.63 |
| 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
-
Analyst Estimates :
101.45
Fair Average Price
14
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Overweight | AlJazira Capital | 95.90 | 102.00 | 6.36 % | |
| Buy | Riyad Capital | 100.40 | 115.00 | 14.54 % | |
| Overweight | AlJazira Capital | 91.90 | 102.00 | 10.99 % | |
| Neutral | SNB Capital | 90.50 | 98.50 | 8.84 % | |
| Hold | United Securities Company | 90.50 | 92.00 | 1.66 % | |
| Overweight | ANB Capital | 91.00 | 106.00 | 16.48 % | |
| Neutral | CI Capital | 91.00 | 93.50 | 2.75 % | |
| Hold | Arqaam Capital | 91.50 | 86.00 | (6.01 %) | |
| Hold | HSBC | 90.30 | 90.10 | (0.22 %) | |
| Buy | YAQEEN | 92.70 | 107.00 | 15.43 % | |
| Overweight | Morgan Stanley International | 93.40 | 116.00 | 24.20 % | |
| Neutral | Citi Bank Group | 93.40 | 102.00 | 9.21 % | |
| Buy | Bank of America | 93.40 | 115.20 | 23.34 % | |
| Hold | FAB Securities | 94.40 | 95.00 | 0.64 % |
Call Request
Comments Analysis: