Riyadh - Mubasher: Alistithmar Capital lowered its fair value (FV) of National Commercial Bank (NCB) to SAR 37 per share, with an expected return of 9%, after it closed on Sunday at SAR 33.94.
The research firm also placed a neutral recommendation on the stock, according to its recent report.
NCB posted a decline of 1.6% year-on-year in earnings during the third quarter of 2016 as compared to the same period a year ago, achieving a net profit of SAR 1.96 billion ($523.2 million) in Q3-16 as compared to about SAR 2 billion ($531.73 million) in Q3-15.
