Canara Bank Ltd (NSE: CANBK): Public sector lender, Canara Bank will consider a stock split or sub-split of equity shares for the first time on February 26, 2024.
The share of Canara Bank Ltd is trading at the level of Rs 568.75 on Tuesday. Canara Bank share has risen 40 percent in the last 3 months and 96.80 percent in the last 1 year.
If the stock split is approved on February 26, it will be the first stock split of a PSU.
Stock To Pay Highest Dividend In Last 10 Years In 2023
Canara Bank also announced its highest dividend in the last 10 years of Rs 12 per share in 2023. Its ex-dividend date was June 14, 2023.
Earlier, Canara Bank had recommended a dividend of Rs 13 per share.
Canara Bank To Consider First Stock Division On February 26
According to the company’s BSE filing, a meeting of the PSU bank has been scheduled on February 26, 2024, to seek major approval from the board of directors for the sub-division or division of the equity shares of the bank.
The stock division will also be subject to prior approval from the Reserve Bank of India (RBI) and other regulatory or statutory or Government of India approvals may be required.
In case the proposal is accepted, Canara Bank will conduct its first stock split. No bonus has been issued yet the PSU has not recommended any bonus shares yet in its history.
Canara Bank Shares Return
The 52-week high price of Canara Bank shares on BSE is Rs 594.70. Apart from this, the 52-week low price is Rs 268.80.
The market capitalization of this bank is Rs 1,06,253.61 crore. Canara Bank shares gave shareholders a return of 73.32 percent in the last 6 months, gained 139 percent in the last 2 years, and offered a rally of 260 percent in the last 3 years.
PSU stocks rose 156.19 percent in the last 5 years.
Canara Bank on January 24, 2024, declared its net profit for the October to December quarter at Rs 3,656 crore, which is 26.87 percent higher than Rs 2881.52 crore declared in the same quarter of the last financial year.
The NPA of PSUs reached 4.39 percent, which is less than the 5.89 percent declared in the same quarter of the last financial year.
Canara’s net NPA was declared at 1.32 percent. Its net interest income was declared at Rs 9,417 crore, up 9.50 percent.
Net interest margin increased by 9 bps to 3.02 percent. By December 2023, Canara’s global turnover will increase by 9.87 percent annually to Rs 22,13,360 crore.
Global deposits were declared at Rs 12,62,930 crore and global advances (gross) were declared at Rs 9,50,430 crore.
About Canara Bank Ltd
The Canara Bank Limited (the Bank) is an India-based bank. The Bank has four segments Treasury Operations, Wholesale Banking Operations, Life Insurance Operations, Retail Banking Operations, and Other Banking Operations.
It has various products and services including personal banking and corporate banking.
Personal banking services provide depository services, ancillary services, mutual funds, technology products, micro, small, and medium enterprise loan products, retail loan products, and card services.
The corporate banking services provide accounts and deposits, syndication services, supply chain finance management, and technology upgrade fund schemes.
The Bank was founded on the 1st of July 1906 in Maharashtra.
Fundamental Analysis of Canara Bank Ltd
| Market Cap | ₹ 1,03,922 Cr. |
| Current Price | ₹ 568.75 |
| 52-wk High | ₹ 594.70 |
| 52-wk Low | ₹ 268.80 |
| Stock P/E | 7.08 |
| Book Value | ₹ 430 |
| Dividend | 2.09 % |
| ROCE | 5.33 % |
| ROE | 14.8 % |
| Face Value | ₹ 10.0 |
| P/B Value | 1.33 |
| OPM | 56.3 % |
| EPS | ₹ 80.8 |
| Debt | ₹ 12,37,160 Cr. |
| Debt to Equity | 15.8 |
Canara Bank Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹570 | ₹625 |
| 2025 | ₹630 | ₹648 |
| 2026 | ₹658 | ₹698 |
| 2027 | ₹705 | ₹715 |
| 2028 | ₹745 | ₹800 |
| 2029 | ₹812 | ₹865 |
| 2030 | ₹900 | ₹935 |
Canara Bank Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 62.93% |
| Mar 2023 | 62.93% |
| June 2023 | 62.93% |
| Sept 2023 | 62.93% |
| Dec 2023 | 62.93% |
| FII Holding | |
| Dec 2022 | 8.74% |
| Mar 2023 | 8.95% |
| June 2023 | 8.91% |
| Sept 2023 | 10.19% |
| Dec 2023 | 11.21% |
| DII Holding | |
| Dec 2022 | 16.60% |
| Mar 2023 | 16.20% |
| June 2023 | 15.93% |
| Sept 2023 | 14.91% |
| Dec 2023 | 14.29% |
| Public Holding | |
| Dec 2022 | 11.72% |
| Mar 2023 | 11.92% |
| June 2023 | 12.21% |
| Sept 2023 | 11.96% |
| Dec 2023 | 11.55% |
Canara Bank Ltd Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹ 47,951 Cr |
| 2020 | ₹ 49,759 Cr |
| 2021 | ₹ 70,253 Cr |
| 2022 | ₹ 70,614 Cr |
| 2023 | ₹ 105,537 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹ 696 Cr |
| 2020 | ₹ -1,921 Cr |
| 2021 | ₹ 2,957 Cr |
| 2022 | ₹ 6,158 Cr |
| 2023 | ₹ 14,774 Cr |
Last 10 Years’ Profit Growth:
| 10 Years: | 14% |
| 5 Years: | 37% |
| 3 Years: | 98% |
| Current Year: | 49% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | 4% |
| 5 Years: | 7% |
| 3 Years: | 10% |
| Last Year: | 15% |
Sales Growth Over 10 Years:
| 10 Years: | 10% |
| 5 Years: | 16% |
| 3 Years: | 20% |
| Current Year: | 32% |
Conclusion
This article is a complete guide about Canara Bank Ltd Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
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