After SBI, PNB, and BOB, Canara Bank is the fourth largest public sector bank in India. It primarily serves southern India, where it has a reputation for providing good business and focuses on Agri and Gold loans. When it comes to the amount of gold that can be used as collateral, it is second only to SBI, which is first when it comes to this particular loan product. In 1906, the bank was established. Additionally, it is a significant player in the Indian banking sector.
Canara Bank Share Price Target 2024-2030
Canara Bank is a company that is listed on stock exchanges. It does well on the exchanges, and the prices of its shares are going up every day. The company’s share price is rising in tandem with its demand, which is slightly rising as well. The company’s performance in its core business is excellent because it strives to meet the needs of its customers with all financial services, which ultimately increases the company’s profits, earnings, and revenues. It is broken down into various parts, like Treasury Operations.
Canara Bank Share Price Target Today Update
Putting resources into shares calls for informed determinations basically founded on careful examination and expert appraisal. On the off chance that you are thinking about Canara Bank stocks, you are perfectly located. Unique insights into the Canara Bank percent charge intention from 2024 to 2030 will be provided in this blog. In order to provide you with the information you need to make an informed choice regarding your funding, our evaluation is solely focused on the expansion, fundamental performance, and potential opportunities of the company.
What Is Canara Bank?
Canara Bank is one of India’s oldest and largest public place banks, having been established in 1906. The bank provides a wide range of financial services and products, including personal banking, business banking, and investment banking, through its extensive nationwide network of branches and ATMs.
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Overview of Canara Bank Share Price
Canara Bank serves individuals, businesses, and government agencies with comprehensive banking and monetary services within the banking industry. The financial sector contributes significantly to the economic climate and has a significant presence in the Indian banking industry.
- MARKET CAP:₹97.18KCr
- OPEN: ₹106.75
- HIGH: ₹108.18
- LOW: ₹104.80
- P/E RATIO: 6.11
- DIVIDEND YIELD: 3.06
- 52 WEEK HIGH: ₹128.90
- 52 WEEK LOW: ₹63.85
Canara Bank Business Profile
Right now, the quantity of branches is ~10,500 and the quantity of ATMs is ~13,000. There are five international branches in other countries. Our network of branches and the number of our ATMs both increased by approximately 4,000 and 4,500 respectively following our merger with Syndicate Bank.
Loan Book
At the moment, corporate loans account for 43% of all loans, followed by loans to agriculture (23%) and retail (7%), and loans to MSME (7%). Regarding the retail book, personal loans, vehicle loans, education loans, and housing loans account for 55%, 22%, and 11%, respectively.
Corporate Book Exposure
The bank’s corporate portfolio currently totals 290,000 crores rupees. The bank’s corporate portfolio focuses primarily on NBFCs (28 percent), infrastructure (27 percent), metal and metal products (9 percent), textiles (5 percent) and food processing (5 percent), and engineering (4 percent).
International Business
Canara Bank has established offices in the United Arab Emirates (UAE), South Africa, the US stock market, and DIFC. Other than the five abroad sub workplaces, it works in Tanzania where it has completely claimed auxiliary of Canara Bank Tanzania Ltd. At the moment, international corporations account for 5.6 percent of the bank’s overall performance.
Subsidiaries
- Canara Robeco Asset Management Co Ltd –M/s. Robeco Groep N.V., which currently oversees approximately INR 16,000 crore in Assets Under Management (AUM), manages 28 distinct mutual fund schemes, including the Gold exchange traded fund.
- Canara Bank Securities Ltd-Completely claimed subsidiary of a bank gives stock broking administrations to clients both institutional and retail.
- Canara HSBC OBC Life Insurance Company Ltd-This is a life insurance joint venture between Oriental Bank of Commerce and HSBC Insurance.
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 % |
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% |
CAGR Report
Compounded Sales Growth
| Period | Growth Rate |
| 10 Years | 11% |
| 5 Years | 18% |
| 3 Years | 16% |
| TTM | 29% |
Compounded Profit Growth
| 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% |
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Canara Bank Shareholding Pattern
| 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 |
Canara Bank Share Price Target 2024-2030 Forecast
| Year | Share Price Target |
| 2024 | ₹204 |
| 2025 | ₹301 |
| 2026 | ₹397 |
| 2027 | ₹492 |
| 2028 | ₹588 |
| 2029 | ₹671 |
| 2030 | ₹768 |
Canara Bank Share Price Target 2025
| 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 |
Canara Bank Share Price Target 2026
| 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 |
Canara Bank Share Price Target 2027
| 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 |
Canara Bank Share Price Target 2028
| 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 |
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Canara Bank Share Price Target 2029
| 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 |
Canara Bank Share Price Target 2030
| 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 |
Points Before investing in Canara Bank:-
- See through the benefit acquired of the organization through the fiscal reports of the organization.
- Share prices can change in an hour or a minute on stock exchanges, so you should always keep an eye on them.
- Check the expense ramifications of the stocks as they continue to change in each monetary year, so note the duty suggestion proportion for future advantages.
- Don’t take out a loan for your investments; instead, put only enough money into something that makes sense for you. I
- f you’re thinking about making a long-term investment, you should look at all the company funds’ categories, types, availability, and returns because they might be of use to you in the future.
Final Words
Canara Bank is a banking company which is recorded on the stock trades and performs very well on the stock trades; the organization’s portions are expanding because of the rising interest of the offers. The Portions of the organization are for the most part not held by the investors for a more drawn out period as how much gamble factors is higher in these offers which builds the possibilities of misfortunes subsequently investors attempt to stay away from these offers for quite a while. However, as these shares rise in value each day, they are attempting to cover the losses.
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