Canara Bank Ltd Share Price Target 2024, 2025 to 2030, Performance & Key Insights: In this article, we will discuss Canara Bank Ltd Share Price Target 2024, 2025 to 2030, its Performance, Stock Market Updates, Financial Health and Analysis, Shareholding Pattern, Peer Competitors, and other important details. Canara Bank Ltd, one of India’s leading public sector banks, offers a wide range of banking and financial services, including retail banking, corporate banking, and treasury operations, with a strong presence in rural and urban areas.
Overview of Canara Bank Ltd
What is Canara Bank Ltd?
Canara Bank Ltd is one of India’s oldest and most prominent public sector banks, headquartered in Bengaluru. Established in 1906 by Ammembal Subba Rao Pai in Mangalore, it was nationalized in 1969 and has since grown into a key player in India’s banking sector. The bank provides a wide range of financial services, including retail and corporate banking, treasury operations, and insurance, catering to both domestic and international customers.
With a workforce of 82,638 employees as of 2024, Canara Bank operates an extensive network of branches across India and globally, with offices in London, Dubai, and New York. The bank is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), making it a significant entity in the Indian financial ecosystem.
Key Features of Canara Bank Ltd:
- Established Legacy: Founded in 1906, it is among the oldest banks in India with over a century of trusted service.
- Global Reach: Operates branches and offices in international locations, including London, Dubai, and New York.
- Strong Workforce: Employs over 82,000 people, ensuring comprehensive banking services.
- Diverse Services: Offers a range of services, including personal banking, corporate banking, insurance, and investment products.
- Subsidiaries: Includes entities like Canara HSBC Life Insurance, enhancing its portfolio in the insurance sector.
Information about Canara Bank Ltd:
| Information | Details |
|---|---|
| Website | canarabank.com |
| Headquarters | Bengaluru, India |
| Founded | 1 July 1906 |
| Founder | Ammembal Subba Rao Pai |
| CEO | K. Satyanarayana Raju (since Feb 2023) |
| Number of Employees | 82,638 (2024) |
| Revenue | ₹1.39 lakh crores INR (2024) |
| Subsidiaries | Canara HSBC Life Insurance |
| BSE Symbol | 532483 |
| NSE Symbol | CANBK |
Current Market Position of Canara Bank Ltd Share
As of November 2024, Canara Bank’s share has shown a positive performance. It is up by +0.81% today and has increased by +4.07% over the past week. Over the past month, the share has risen by +8.01%, but has experienced a decline of -8.63% over the last three months. On a yearly basis, Canara Bank’s share has risen by +30.57%, with an impressive growth of +151.15% over the past three years and +128.54% over the past five years.
Canara Bank Share Fundamental Data
- Market Cap: ₹92,321 Cr.
- Current Price: ₹102
- High / Low: ₹129 / ₹78
- Stock P/E: 5.77
- Book Value: ₹102
- Dividend Yield: 3.16%
- ROCE: 6.63%
- ROE: 17.9%
- Face Value: ₹2.00
Market Position of Canara Bank Share as of November 2024
| Time Period | Returns of Canara Bank Share |
|---|---|
| 1 Day | 0.81% |
| 1 Week | 4.07% |
| 1 Month | 8.01% |
| 3 Months | -8.63% |
| 1 Year | 30.57% |
| 3 Years | 151.15% |
| 5 Years | 128.54% |
Canara Bank Share Price Target for 2024, 2025, 2026, 2027, 2028, 2029, 2030
Canara Bank Share Price Target in 2024
In 2024, the share price target for Canara Bank is expected to range between ₹100 and ₹150, supported by the bank’s robust performance and steady growth in its core banking operations.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2024 | ₹100 | ₹150 |
Canara Bank Share Price Target in 2025
For 2025, Canara Bank’s share price target is projected to range between ₹160 and ₹210, driven by improvements in asset quality and increased profitability.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2025 | ₹160 | ₹210 |
Canara Bank Share Price Target in 2026
In 2026, the share price target for Canara Bank is anticipated to range between ₹240 and ₹290, as the bank continues to strengthen its market position and expand its services.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2026 | ₹240 | ₹290 |
Canara Bank Share Price Target in 2027
By 2027, Canara Bank’s share price target is expected to range between ₹400 and ₹450, fueled by its growing focus on digital transformation and global expansion.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2027 | ₹400 | ₹450 |
Canara Bank Share Price Target in 2028
In 2028, the share price target for Canara Bank is estimated to range between ₹520 and ₹570, supported by consistent revenue growth and a stronger financial foundation.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2028 | ₹520 | ₹570 |
Canara Bank Share Price Target in 2029
For 2029, the share price target for Canara Bank is projected to range between ₹600 and ₹650, reflecting its continued operational excellence and increasing investor confidence.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2029 | ₹600 | ₹650 |
Canara Bank Share Price Target in 2030
By 2030, Canara Bank’s share price target is expected to range between ₹690 and ₹740, as the bank cements its leadership in the Indian banking sector and expands its global footprint.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2030 | ₹690 | ₹740 |
Financial Health and Performance Analysis of Canara Bank (FY 2020 – FY 2024)
Canara Bank Financials Income (P&L) (FY 2020 – FY 2024)
FY 2024
| Metric | FY 2024 | Y/Y Growth |
|---|---|---|
| Total Income | ₹1,39,164.94 Cr | +25.14% |
| Provisions & Contingencies | ₹14,928.13 Cr | -13.04% |
| Profit after Tax (PAT) | ₹15,278.56 Cr | +36.77% |
| Net Interest Margin (NIM) | 2.50% | – |
| Net Profit Margin (NPM) | 13.82% | – |
| Basic EPS (₹) | ₹84.22 | – |
FY 2023
| Metric | FY 2023 | Y/Y Growth |
|---|---|---|
| Total Income | ₹1,11,209.76 Cr | +17.99% |
| Provisions & Contingencies | ₹17,166.48 Cr | -1.92% |
| Profit after Tax (PAT) | ₹11,254.75 Cr | +86.50% |
| Net Interest Margin (NIM) | 2.38% | – |
| Net Profit Margin (NPM) | 13.10% | – |
| Basic EPS (₹) | ₹62.04 | – |
FY 2022
| Metric | FY 2022 | Y/Y Growth |
|---|---|---|
| Total Income | ₹94,256.88 Cr | +0.64% |
| Provisions & Contingencies | ₹17,502.62 Cr | +0.07% |
| Profit after Tax (PAT) | ₹6,124.82 Cr | +114.48% |
| Net Interest Margin (NIM) | 2.19% | – |
| Net Profit Margin (NPM) | 8.67% | – |
| Basic EPS (₹) | ₹35.04 | – |
FY 2021
| Metric | FY 2021 | Y/Y Growth |
|---|---|---|
| Total Income | ₹93,659.75 Cr | +52.15% |
| Provisions & Contingencies | ₹17,490.37 Cr | +49.53% |
| Profit after Tax (PAT) | ₹2,890.60 Cr | – |
| Net Interest Margin (NIM) | 2.12% | – |
| Net Profit Margin (NPM) | 4.11% | – |
| Basic EPS (₹) | ₹19.11 | – |
FY 2020
| Metric | FY 2020 | Y/Y Growth |
|---|---|---|
| Total Income | ₹61,558.16 Cr | +6.39% |
| Provisions & Contingencies | ₹11,696.51 Cr | +12.40% |
| Profit after Tax (PAT) | ₹-1,986.43 Cr | -469.64% |
| Net Interest Margin (NIM) | 1.88% | – |
| Net Profit Margin (NPM) | -3.99% | – |
| Basic EPS (₹) | ₹-23.55 | – |
Analysis Summary
- Revenue Growth: Canara Bank has shown a strong revenue growth trajectory over the past years, with the highest growth in FY 2024 (+25.14%). This consistent growth reflects the bank’s robust market position and improved business operations.
- Expense Control and Provisions: Provisions & Contingencies declined by 13.04% in FY 2024, a positive indicator of better risk management. The bank effectively reduced its provisions compared to previous years.
- Profitability: Canara Bank’s Profit After Tax (PAT) saw impressive growth of 36.77% in FY 2024, reflecting strong operational performance. The reversal from a loss of ₹-1,986.43 Cr in FY 2020 to a positive PAT is a significant achievement, indicating recovery from earlier setbacks.
- Margins: The Net Interest Margin (NIM) improved from 1.88% in FY 2020 to 2.50% in FY 2024, which highlights the bank’s improved profitability and interest income management. Similarly, the Net Profit Margin (NPM) increased to 13.82% in FY 2024, reinforcing the positive financial health.
- Earnings Per Share (EPS): Basic EPS showed a strong upward trend, rising from a negative ₹-23.55 in FY 2020 to ₹84.22 in FY 2024, reflecting strong shareholder value creation.
How to Buy Canara Bank Shares
- Choose a Broker: Select a brokerage platform that offers Canara Bank shares for trading.
- Open a Trading Account: Set up a Demat and trading account with your chosen broker.
- Complete KYC: Provide identity and address verification documents to complete the KYC process.
- Deposit Funds: Add funds to your trading account to enable share purchases.
- Search for Canara Bank Shares: Look up the shares by the company name or ticker symbol.
- Place an Order: Choose the quantity of shares to buy and place a market or limit order.
- Confirm Purchase: Review the transaction details and confirm your order.
Canara Bank Share Price Target for the Next 5 Years
Canara Bank, with its strong fundamentals and strategic focus on digital transformation, is poised for steady growth. Below are the projected share price targets for Canara Bank for the next five years:
| Year | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| 2024 | ₹100 | ₹150 |
| 2025 | ₹160 | ₹210 |
| 2026 | ₹240 | ₹290 |
| 2027 | ₹400 | ₹450 |
| 2028 | ₹520 | ₹570 |
Shareholding Pattern of Canara Bank
Promoters:
- No. of Shares: 5,70,85,48,390
- Percentage: 62.93%
- % Change QoQ: 0.00%
Pledge:
- No. of Shares: 0
- Percentage: 0.00%
- % Change QoQ: 0.00%
FII (Foreign Institutional Investors):
- No. of Shares: 1,08,02,92,677
- Percentage: 11.91%
- % Change QoQ: +1.33%
DII (Domestic Institutional Investors):
- No. of Shares: 1,00,60,10,365
- Percentage: 11.09%
- % Change QoQ: -3.18%
MF (Mutual Funds):
- No. of Shares: 31,62,58,521
- Percentage: 3.49%
- % Change QoQ: -2.33%
Others:
- No. of Shares: 1,27,57,99,828
- Percentage: 14.06%
- % Change QoQ: +1.83%
Pros and Cons of Canara Bank Shareholding
Pros:
- Strong Promoter Stake: The promoters hold 62.93% of the shares, indicating a strong commitment and control over the company. There has been no change in this stake QoQ, maintaining a solid foundation.
- No Pledged Shares: The company has no pledged shares, ensuring that the promoters have no financial encumbrances, which is a positive sign for investor confidence.
- Increase in FII Holdings: Foreign institutional investors (FII) have increased their holdings by 1.33%, reflecting growing investor confidence in Canara Bank’s future prospects.
Cons:
- High “Others” Stake: The “Others” category holds 14.06% of the shares, with a slight QoQ increase of 1.83%. While this is not alarming, it indicates that a notable portion of the stock is held by non-institutional investors, which could result in higher volatility.
- Decline in DII and MF Holdings: Domestic institutional investors (DII) and mutual funds (MF) have reduced their holdings by -3.18% and -2.33%, respectively. This decrease in institutional interest could be a concern for long-term stability.
Peer Competitors of Canara Bank in the Public Sector Banking Industry
| Name | Share Price (₹) | Market Cap (₹ Cr) |
|---|---|---|
| State Bank of India | 839.35 | 748821.95 |
| Bank of Baroda | 247.60 | 127991.13 |
| Punjab National Bank | 105.05 | 120744.97 |
| Indian Overseas Bank | 52.80 | 100148.36 |
| Union Bank of India | 121.40 | 92664.23 |
| Canara Bank | 101.80 | 92320.95 |
| Indian Bank | 561.40 | 75786.27 |
(FAQ)
1. What is Canara Bank’s current share price?
- As of the latest data, Canara Bank’s share price is ₹101.80.
2. What is the market capitalization of Canara Bank?
- Canara Bank has a market capitalization of ₹92,320.95 crore.
3. How does Canara Bank compare to its competitors in the public sector banking industry?
- Canara Bank’s share price is ₹101.80 with a market capitalization of ₹92,320.95 crore. Among its peers, State Bank of India has the highest market cap at ₹748,821.95 crore, followed by Bank of Baroda at ₹127,991.13 crore.
4. What are the key financials for Canara Bank?
- Canara Bank has a P/E ratio of 5.77, a dividend yield of 3.16%, and a quarterly net profit of ₹4,226.75 crore. Its sales for the quarter were ₹30,181.85 crore, with a sales growth of 10.60%.
5. How does Canara Bank perform in comparison to other public sector banks?
- Canara Bank’s ROCE (Return on Capital Employed) stands at 6.63%, indicating strong capital efficiency. The bank’s financial growth is steady, but its performance is lower than some larger competitors like State Bank of India.
6. What are the growth prospects for Canara Bank?
- Canara Bank’s growth is expected to continue with improvements in asset quality, profitability, and an expanding digital transformation strategy.
7. How often does Canara Bank pay dividends?
- Canara Bank offers a dividend yield of 3.16%, and the company has a healthy dividend payout ratio of 19.2%.
8. What are the risks involved with investing in Canara Bank shares?
- As with any financial institution, risks include market volatility, regulatory changes, and potential fluctuations in interest rates that may impact profitability. However, Canara Bank has a relatively stable financial position compared to its peers.
9. Where can I buy Canara Bank shares?
- Canara Bank shares can be purchased through various stock brokers or trading platforms, either directly or through mutual funds. Make sure to review the stock’s performance and consult with a financial advisor before investing.
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