Union Bank of Nigeria (NSA:UBNP) Momentum Rank : 0 (As of Jun. 11, 2024)

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What is Union Bank of Nigeria Momentum Rank?

Union Bank of Nigeria has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Union Bank of Nigeria (NSA:UBNP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Union Bank of Nigeria PLC (NSA:UBNP) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

Stallion Plaza, 36 Marina, Lagos, NGA, 2027

Website

https://www.unionbankng.com

Union Bank of Nigeria PLC is a banking corporation. The principal activity of the Bank is the provision of banking and related financial services to corporate and individual customers. The company offers flexible current and savings accounts, cash management, trade finance, credit solutions, and treasury solutions. The company also provides personal loans, overdrafts, and advances to individuals as well as small and medium enterprises and corporates. The Bank also provides treasury services to high-net-worth individuals, commercial clients, corporates, and nonbanking financial institutions. The bank manages its business in four segments namely Retail Bank, Commercial Bank, Corporate Bank, and Treasury.

Union Bank of Nigeria (NSA:UBNP) Headlines

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