In this post we will discuss the stock analysis of one of the largest PSU Banks of India , Canara bank
About Canara Bank
Canara Bank, incorporated in the year 1906, is a banking company (having a market cap of Rs 103,133.30 Crore).Canara Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2023.
Canara Bank CMD
K Satya Narayan Raju is the Chairman Cum Managing Director of the Bank
Canara Bank Share Price
- 113.800.10 (0.09%)
- Volume: 3,91,94,579
NSEBSE
- Closed
- Last Updated On: 17 MAY, 2024, 03:59 PM IST
Dividend Announcement
Company announced a dividend of Rs 16.1 per share on 8 May, 2024 with record date of 17 Jun, 2024.
Falling Gross NPA and Net NPA
The bank’s gross NPA% and Net NPA% have fallen continuously over the past 4-years to 4.23% and 1.27%, respectively. (Source: Standalone Financials)
Net Interest Margin – Uptrend
Company is able to expand its net interest margin on a continuous basis over the last 3 years with margins of 2.5% in last year. (Source: Consolidated Financials)
Sell Signal: Bears on driving seat
50 day moving crossover appeared on May 16, 2024. Average price decline of -4.58% within 30 days of this signal in last 5 years.
Canara Bank Share Price Update
Canara Bank share price moved up by 0.09% from its previous close of Rs 113.70. Canara Bank stock last traded price is 113.80
Key Metrics
- PE Ratio(x)- 7.35
- EPS – TTM(₹)16.91
- Dividend Yield(%)- 2.01
- VWAP– (₹)114.20
- PB Ratio– (x)1.37
- MCap-(₹ Cr.)1,03,133
- Face Value-(₹)2.00
- BV/Share-(₹)101.57
- Sectoral MCap-Rank11
- 52W H/L-(₹)126.58 / 58.27
- Beta-1.70
- MCap/Sales-0.95
Canara Bank Share Price Returns
| 1 Day | 0.09% |
| 1 Week | 3.8% |
| 1 Month | -2.58% |
| 3 Months | -2.88% |
| 1 Year | 87.97% |
| 3 Years | 270.68% |
| 5 Years | 131.72% |
ANALYST TRENDS
| Ratings | Current | 1 Week Ago | 1 Month Ago | 3 Months Ago |
|---|---|---|---|---|
| Strong Buy | 6 | 6 | 6 | 5 |
| Buy | 3 | 3 | 4 | 5 |
| Hold | 1 | 1 | 2 | 2 |
| Sell | 2 | 2 | 2 | 1 |
| Strong Sell | 2 | 2 | – | – |
| # ANALYSTS | 14 | 14 | 14 | 13 |
Canara Bank Financials
| ANNUAL | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Total Income | 1,39,164.94 | 1,11,209.76 | 94,256.88 | 93,659.75 | 61,558.16 |
| Total Income Growth (%) | 25.14 | 17.99 | 0.64 | 52.15 | 6.39 |
| Provisions & Contingencies | 14,928.13 | 17,166.48 | 17,502.62 | 17,490.37 | 11,696.51 |
| Provisions & Contingencies Growth (%) | -13.04 | -1.92 | 0.07 | 49.53 | 12.40 |
| Profit after Tax (PAT) | 15,278.57 | 11,254.75 | 6,124.82 | 2,890.60 | -1,986.43 |
| PAT Growth (%) | 36.77 | 86.50 | 114.48 | – | -469.64 |
| Net Interest Margin (%) | 2.50 | 2.38 | 2.19 | 2.12 | 1.88 |
| Net Profit Margin (%) | 13.82 | 13.10 | 8.67 | 4.11 | -3.99 |
| Basic EPS (₹) | 84.22 | 62.04 | 35.04 | 19.11 | -23.55 |
Balance Sheet
| ANNUAL | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Total Income | 1,39,164.94 | 1,11,209.76 | 94,256.88 | 93,659.75 | 61,558.16 |
| Total Income Growth (%) | 25.14 | 17.99 | 0.64 | 52.15 | 6.39 |
| Provisions & Contingencies | 14,928.13 | 17,166.48 | 17,502.62 | 17,490.37 | 11,696.51 |
| Provisions & Contingencies Growth (%) | -13.04 | -1.92 | 0.07 | 49.53 | 12.40 |
| Profit after Tax (PAT) | 15,278.57 | 11,254.75 | 6,124.82 | 2,890.60 | -1,986.43 |
| PAT Growth (%) | 36.77 | 86.50 | 114.48 | – | -469.64 |
| Net Interest Margin (%) | 2.50 | 2.38 | 2.19 | 2.12 | 1.88 |
| Net Profit Margin (%) | 13.82 | 13.10 | 8.67 | 4.11 | -3.99 |
| Basic EPS (₹) | 84.22 | 62.04 | 35.04 | 19.11 | -23.55 |
Cash Flow
| ANNUAL | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Net Cash flow from Operating Activities | – | -39,977.87 | 918.99 | 59,117.67 | -5,288.43 |
| Net Cash used in Investing Activities | – | -1,237.80 | -1,255.88 | -1,029.13 | -411.53 |
| Net Cash flow from Financing Activities | – | 445.36 | 4,035.45 | 290.08 | 7,792.27 |
| Net Cash Flow | – | -40,688.61 | 3,525.06 | 58,291.29 | 2,058.58 |
| Closing Cash & Cash Equivalent | – | 1,41,702.82 | 1,82,391.43 | 1,78,866.39 | 68,589.82 |
| Closing Cash & Cash Equivalent Growth (%) | 0.00 | -22.31 | 1.97 | 160.78 | 3.09 |
Ratios
| ANNUAL | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Return on Equity (%) | 16.58 | 15.94 | 9.96 | 5.34 | -5.69 |
| Return on Assets (%) | 0.99 | 0.81 | 0.48 | 0.24 | -0.26 |
| Cost to Income (%) | 37.55 | 42.63 | 48.19 | 48.87 | 45.10 |
| Interest income to Earning assets (%) | 7.19 | 6.21 | 5.61 | 5.95 | 6.71 |
| Interest Expense to Earning assets (%) | 4.69 | 3.83 | 3.42 | 3.83 | 4.83 |
| Price to Earnings (x) | 6.90 | 4.59 | 6.74 | 8.68 | -4.69 |
| Price to Book (x) | 1.14 | 0.73 | 0.67 | 0.46 | 0.27 |
| Price to Sales (x) | 0.95 | 0.60 | 0.58 | 0.36 | 0.19 |
| Operating Profit Margin (%) | -12.54 | -16.90 | -25.27 | -29.54 | -27.77 |
Canara Bank Share Price Forecast
Canara Bank Ltd has a median price target of Rs. 127.5 in 12 months by 14 analysts. They provided a high estimate of Rs. 134 and a low estimate of Rs. 82 for the company.
Peer Comparison
Stock Returns vs Nifty 100
Stock gave a 3 year return of 288.0% as compared to Nifty 100 which gave a return of 52.98%. (as of last trading session)
Stock Returns vs Nifty Bank
Stock generated 288.0% return as compared to Nifty Bank which gave investors 41.84% return over 3 year time period. (as of last trading session)
Total Shareholdings
| CATEGORY | NO. OF SHARES | PERCENTAGE | % CHANGE QOQ |
|---|---|---|---|
| Promoters | 1,14,17,09,678 | 62.93 % | 0.00 |
| Pledge | 0 | 0.00 % | 0.00 |
| FII | 19,18,09,152 | 10.57 % | -0.63 |
| DII | 25,87,34,683 | 14.27 % | 0.25 |
| MF | 10,55,15,425 | 5.82 % | 0.61 |
| Others | 22,18,76,739 | 12.23 % | 0.37 |
Mutual Fund Ownership
Invesco India Arbitrage Direct-G
Kotak Equity Arbitrage Direct-G
Nippon India ETF Nifty PSU Bank B
SBI Arbitrage Opportunities Direct-G
HDFC Arbitrage Wholesale Direct-G
Aditya Birla SL Arbitrage Direct-G
Canara bank Board Meeting
| MEETING DATE | ANNOUNCED ON | PURPOSE | DETAILS |
|---|---|---|---|
| May 08, 2024 | Apr 25, 2024 | Board Meeting | Audited Results & Dividend |
| Feb 26, 2024 | Feb 07, 2024 | Board Meeting | Stock Split |
| Jan 24, 2024 | Jan 12, 2024 | Board Meeting | Quarterly Results |
| Oct 26, 2023 | Oct 13, 2023 | Board Meeting | Quarterly Results |
| Jul 24, 2023 | Jul 13, 2023 | Board Meeting | Quarterly Results |
Canara Bank Dividends
| TYPE | DIVIDEND | DIVIDEND PER SHARE | EX-DIVIDEND DATE | ANNOUNCED ON |
|---|---|---|---|---|
| Final | 161% | 16.1 | Jun 14, 2024 | May 08, 2024 |
| Final | 120% | 12.0 | Jun 14, 2023 | May 08, 2023 |
| Final | 65% | 6.5 | Jun 15, 2022 | May 06, 2022 |
| Final | 10% | 1.0 | Jul 12, 2017 | May 11, 2017 |
| Final | 105% | 10.5 | Jun 25, 2015 | May 25, 2015 |
Others
| ALL TYPES | EX-DATE | RECORD DATE | ANNOUNCED ON | DETAILS |
|---|---|---|---|---|
| Splits | May 15, 2024 | May 15, 2024 | Feb 26, 2024 | Split: Old FV10.0| New FV:2.0 |
| Rights | Feb 17, 2017 | Feb 20, 2017 | Sep 23, 2016 | Rights ratio: 1 share for every 10 held at a price of Rs 207.0 |
| Splits | – | – | Aug 26, 2014 | Split: Old FV10.0| New FV:2.0 |
