Today we will discuss and detail an analysis of Canara Bank Share Price Targets for 2024, 2025, 2026, 2027, and 2030. Any investor whether professional or amateur in his financial life may at some point need to see the trend of Canara Bank shares. One of the oldest and biggest public sector banks in India, Canara Bank has got a wonderful place in the financial world of this nation. We will assess the bank’s history, its current market performance, and some projected share price targets over the coming years.
Canara Bank Company Details
Key Points of Background about the Bank: Canara Bank was incorporated in 1906 and emerged as one of the leading banking organizations in India. A tabular presentation of major information of the bank is stated below:
| Details | Information |
|---|---|
| Company Name | Canara Bank |
| Official Website | www.canarabank.com |
| Founded | 1906 |
| Headquarters | Bangalore, Karnataka, India |
| Number of Employees | 90,000+ |
| Category | Share Price |
Current Market Overview of Canara Bank Share Price
Share Price Quote of Canara Bank Share Price Compared to Sept 20, 2024; ₹104.96 The Economic Times.
The stock has a pretty resilience in the market as it displays a 52-week range between ₹68.42 and ₹128.90 (Yahoo Finance) Current market metrics have been shown as follows in a table:
| Metric | Value |
|---|---|
| Open Price | ₹105.80 |
| High Price | ₹109.44 |
| Low Price | ₹105.05 |
| Current Price | ₹108.78 |
| Market Cap | ₹986.98B |
| P/E Ratio | 6.14 |
| Dividend Yield | 3.03% |
| 52-Week High | ₹128.90 |
| 52-Week Low | ₹68.42 |
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Canara Bank Share Price Target from 2024 to 2030
Based on prevailing market conditions, historical performance, and prospects for the future, the following are set share price targets for Canara Bank Share Price Target from 2024 to 2030.
| Year | Price Target (₹) |
|---|---|
| 2024 | ₹74.34 |
| 2025 | ₹136.24 |
| 2026 | ₹150.00 |
| 2027 | ₹165.00 |
| 2030 | ₹200.00 |
Canara Bank Share Price Chart
Key Factors Affecting Canara Bank Share Price Growth
Several issues are likely to bear their impact on the share price of Canara Bank in the coming few years. They, however, are as understandable to the investors.
Bull Case:
- Growth in Economy: Even a much better activity in banking may go on as the Indian economy thumps.
- Digital Transformation: In a digital bank, operations are likely to attract a younger customer base and increase the efficiency of operations.
- Asset Quality: Low NPA. A low NPA helps in raising investor confidence.
Bear Case:
- Regulatory Changes: Negative regulatory policies can also affect the smooth functioning of the bank.
- Market Competition: Private banks and fintech will further increase competition, and the market share will decline.
- Economic Slowdown: Of course, slowing down the economy will have negative side effects like higher NPAs and lower profitability.
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Should I Buy Canara Bank Stock?
It is a mixed bag of various potential risks and gains involved in the investment in Canara Bank Share Price. The undervaluation of the stock and growth initiatives at the banking level offer potential gains. On the other hand, challenges such as regulatory changes and market competition cannot be ignored. It would be suggested to assess your risk tolerance and investment horizon before deciding.
Conclusion:
Having an excellent representation in the Indian banking sector, Canara Bank is one of the oldest institutes and thus has a good prospect for investors. The future share price targets are quite attractive; however, performance would strictly depend on the market as well as internal factors. So, investors should keep them updated with respective market analysis reports about the company.
FAQs
What is the current Canara Bank share price?
The stock price as of September 20, 2024, was ₹104.96.
What share price will be in 2025?
Targeted for ₹136.24 is targeted for 2025.
What is its yield on dividend?
The dividend yield is 3.03%.
Is Canara Bank a good for long-term investment?
Its long-term growth potential could be enormous, but it is to be considered under market risks and goals for investment.
What are the key risks of investing in Canara Bank?
Regulatory changes, increased competition, and economic slowdown are primary risks.