Canara Bank Share Price Target 2024, 2025, 2026, 2027, 2028, 2029, 2030 Fundamentals & Quarterly Results -Canara Bank, which is the fourth largest public sector bank after SBI, PNB & BOB, mainly serves southern India, where it has a reputation for offering good business with concentration points being Agri and Gold loans. It comes in second place among all other banks as far as the amount of gold collateral given out is concerned with SBI coming first in terms of this particular loan product.
Latest Update – The NII (net interest income) surged by 6 percent in the reporting quarter compared to the previous year, amounting to Rs. 9,166 crores as opposed to Rs. 8,666 crores from last year’s period. In Q1, provisions decreased by 16 percent YoY reaching Rs. 2,282 crores, where provisions for non-performing assets (NPA) decreased by 10 percent YoY.
Canara Bank Overview
Contents
The bank was founded in 1906. Also, it is a major player in the Indian banking industry. There are different segments under it like Treasury Operations, Retail Banking Operations, Wholesale Banking Operations and Other Banking Operations.
Company Name | Canara Bank |
Listed at | NSE & BSE |
Head Office | 112, J.C.Road, Bangalore – 560 002 |
Board Of Directors |
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Official Website | canarabank.com |
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Canara Bank Business Profile
At the moment, the number of branches is ~10,500 and the number of ATMs is ~13,000. The total number of international branches in foreign countries is 5. As a percentage of the distribution, almost half (45%) is situated on the southern part while more than half of them (~60%) are found in remote areas such as villages outside urban centers in India. After merging with Syndicate Bank, our branch network and the number of our ATMs rose by about 4,000 and 4,500 respectively.
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Loan Book
Currently, corporate loans make up 43% of total loans, followed by Agriculture (23%), retail (17%) and MSME (17%). Regards the retail book, housing loans consists 55% followed by personal loans (22%), vehicle loans (12%) as well as education loans (11%).
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Corporate Book Exposure
At present, the aggregate size of bank’s corporate portfolio stands at ~290,000 crores. The leading economic verticals that the bank’s corporate portfolio caters to include – NBFCs at 28%, Infrastructure at 27%, metal & metal products with 9% share, 5% each for textiles and food processing while engineering accounts for 4% of the pie.
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International Business
Canara Bank has set up five offices in the UK, South Africa, the US stock market, DIFC and UAE. Other than the five overseas sub offices, it operates in Tanzania where it has wholly owned subsidiary of Canara Bank Tanzania Ltd. Russia is also part of the other places where Commercial Indo Bank LLC is its joint venture with State Bank of India. Currently, international corporate account for (stands at) 5.6% of the bank’s overall company performance.
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Subsidiaries
- Canara Robeco Asset Management Co Ltd –This comprises a joint venture with M/s. Robeco Groep N.V., which manages 28 different mutual fund schemes such as Gold exchange traded fund and currently oversees about INR 16,000 crores in Assets Under Management (AUM).
- Canara Bank Securities Ltd-It is fully owned subsidiary of a bank that provides stock broking services to clients both institutional and retail.
- Canara HSBC OBC Life Insurance Company Ltd-This is a JV in life insurance between HSBC Insurance and Oriental Bank of Commerce
- CanFin Homes Ltd -The premier institution for housing finance in the country
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Canara Bank Fundamentals & Quarterly Results
Market Cap | ₹ 1,12,930 Cr. |
Current Price | ₹ 124 |
High / Low | ₹ 127 / 58.3 |
Stock P/E | 7.41 |
Book Value | ₹ 86.0 |
Dividend Yield | 2.57 % |
ROCE | 7.00 % |
ROE | 19.6 % |
Face Value | ₹ 2.00 |
Debt to equity | 15.8 |
Debt Capacity | -6.41 |
Debt preceding year | ₹ 12,37,160 Cr. |
Debt | ₹ 12,37,160 Cr. |
Reserves | ₹ 76,240 Cr. |
EPS | ₹ 16.8 |
EPS last year | ₹ 16.8 |
Pledged percentage | 0.00 % |
FCF Prev Ann | ₹ -40,591 Cr. |
EVEBITDA | 13.1 |
Industry PE | 9.46 |
PEG Ratio | 0.08 |
Piotroski score | 6.00 |
Earnings yield | 7.66 % |
Sales growth 5Years | 18.2 % |
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Canara Bank Quarterly Results
Metric | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue | 17,982 | 18,227 | 18,537 | 20,482 | 22,561 | 24,304 | 25,451 | 27,290 | 28,492 | 29,286 |
Interest | 10,761 | 10,856 | 11,396 | 12,681 | 13,622 | 15,292 | 16,337 | 17,934 | 18,620 | 19,226 |
Expenses | 8,386 | 10,824 | 9,382 | 11,326 | 10,831 | 12,253 | 10,990 | 10,859 | 12,001 | 13,198 |
Financing Profit | -1,165 | -3,453 | -2,241 | -3,525 | -1,891 | -3,241 | -1,876 | -1,504 | -2,129 | -3,138 |
Financing Margin % | -6% | -19% | -12% | -17% | -8% | -13% | -7% | -6% | -7% | -11% |
Other Income | 3,506 | 6,292 | 5,202 | 6,876 | 5,777 | 7,470 | 6,809 | 6,602 | 7,138 | 8,098 |
Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit before tax | 2,341 | 2,839 | 2,961 | 3,351 | 3,886 | 4,229 | 4,933 | 5,098 | 5,009 | 4,960 |
Tax % | 30% | 31% | 30% | 23% | 25% | 24% | 28% | 28% | 25% | 24% |
Net Profit | 1,712 | 2,061 | 2,193 | 2,730 | 3,058 | 3,364 | 3,755 | 3,829 | 3,827 | 3,991 |
EPS in Rs | 1.83 | 2.12 | 2.40 | 2.98 | 3.34 | 3.68 | 4.12 | 4.19 | 4.18 | 4.36 |
Gross NPA % | 7.81% | 7.51% | 6.99% | 6.37% | 5.90% | 5.35% | 5.16% | 4.76% | 4.39% | 4.23% |
Net NPA % | 2.87% | 2.65% | 2.48% | 2.19% | 1.96% | 1.73% | 1.57% | 1.41% | 1.32% | 1.27% |
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CAGR Report
Compounded Sales Growth
Period | Growth Rate |
---|---|
10 Years | 11% |
5 Years | 18% |
3 Years | 16% |
TTM | 29% |
Compounded Profit Growth
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Period | Growth Rate |
---|---|
10 Years | 19% |
5 Years | 91% |
3 Years | 75% |
TTM | 40% |
Stock Price CAGR
Period | Growth Rate |
---|---|
10 Years | 3% |
5 Years | 17% |
3 Years | 54% |
1 Year | 88% |
Return on Equity
Period | Growth Rate |
---|---|
10 Years | 7% |
5 Years | 11% |
3 Years | 15% |
Last Year | 20% |
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|
Promoters | 66.30% | 72.55% | 70.62% | 78.52% | 69.33% | 62.93% | 62.93% | 62.93% |
FIIs | 5.28% | 5.12% | 4.26% | 3.31% | 4.59% | 8.48% | 8.95% | 10.57% |
DIIs | 21.23% | 16.86% | 17.65% | 11.02% | 12.60% | 13.61% | 16.20% | 14.39% |
Public | 7.19% | 5.47% | 7.47% | 7.15% | 13.48% | 14.97% | 11.92% | 12.10% |
No. of Shareholders | 1,64,670 | 1,53,150 | 1,89,044 | 2,25,291 | 5,63,458 | 6,39,136 | 6,29,444 | 7,59,083 |
Year | Share Price Target |
---|---|
2024 | ₹204 |
2025 | ₹301 |
2026 | ₹397 |
2027 | ₹492 |
2028 | ₹588 |
2029 | ₹671 |
2030 | ₹768 |
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Month | Share Price Target |
---|---|
January | ₹212 |
February | ₹210 |
March | ₹206 |
April | ₹219 |
May | ₹229 |
June | ₹233 |
July | ₹229 |
August | ₹226 |
September | ₹246 |
October | ₹285 |
November | ₹296 |
December | ₹301 |
Month | Share Price Target |
---|---|
January | ₹308 |
February | ₹315 |
March | ₹301 |
April | ₹316 |
May | ₹325 |
June | ₹330 |
July | ₹323 |
August | ₹335 |
September | ₹349 |
October | ₹378 |
November | ₹394 |
December | ₹397 |
Month | Share Price Target |
---|---|
January | ₹404 |
February | ₹410 |
March | ₹398 |
April | ₹410 |
May | ₹423 |
June | ₹426 |
July | ₹420 |
August | ₹422 |
September | ₹439 |
October | ₹472 |
November | ₹489 |
December | ₹492 |
Month | Share Price Target |
---|---|
January | ₹501 |
February | ₹506 |
March | ₹494 |
April | ₹509 |
May | ₹519 |
June | ₹522 |
July | ₹516 |
August | ₹517 |
September | ₹533 |
October | ₹574 |
November | ₹586 |
December | ₹588 |
Month | Share Price Target |
---|---|
January | 598 |
February | 587 |
March | 577 |
April | 582 |
May | 592 |
June | 604 |
July | 623 |
August | 636 |
September | 654 |
October | 645 |
November | 660 |
December | ₹671 |
Month | Share Price Target |
---|---|
January | 680 |
February | 674 |
March | 666 |
April | 670 |
May | 682 |
June | 703 |
July | 713 |
August | 730 |
September | 747 |
October | 755 |
November | 761 |
December | ₹768 |
Official Website – canarabank.com