Bank Of Baroda Share Price Target Forecast 2022, 2023, 2025, 2030

11 NOVEMBER 2021

Motilal Oswal: Bank of Baroda Share Price Target 2022; Buy For Rs 130

Mottilal Oswal has a buy recommendation on Bank of Baroda’s recommended stock with a target price of Rs 130 in his research report dated November 10, 2021.

Even as NII remained under pressure, BOB reported a positive profits performance, aided by lesser provisions and greater other revenue. Domestic NIMs fell to 2.9 percent from 22 basis points in the previous quarter. Despite improving business trends, advances climbed at a rate of 4% QoQ. The general quality of the assets has improved. The most recent lapse was INR52.2 billion (annual slippage rate of 3 percent ). Asset quality, on the other hand, improved as a result of larger write-offs and recoveries.

The GNPA/NNPA ratio dropped 75bp/20bp QoQ, but the PCR constant remained at 67%. The overall SMA 1/2 (above INR50 million) fell to 1.87 percent, while the restructured book is now worth INR205 billion (2.95 percent of the loan). Storage Efficiency (Except Agri) increased to 96 percent in September of this year, up from 93 percent in June.

Outlook

We raise our profit estimates for FY22E/FY23E to 39 percent/14 percent, respectively, and predict RoA/RoE of 0.7 percent/10.9 percent by FY23E. With a revised TP (0.9x Sep’23E ABV) of INR130 per share, we retain our BUY recommendation.

Moneycontrol.com is the source for this information.


11 NOVEMBER 2021

ICICI Direct: Bank of Baroda Share Price Target 2022; Buy For Rs 120

ICICI Direct Bank of Baroda is positive, recommending a buy rating on the company with a target price of Rs 120 in a research report dated November 11, 2021.

Bank Of Baroda is one of the largest PSU banks in India, with a worldwide loan book of 7.3 lakh crores and a superior operational statistic than other PSBs. With over 8100 branches across India, we have a strong presence in the country. With its Joint Ventures and Subsidiaries, the Bank has a considerable presence in international business. Furthermore, international sales account for 12% of overall revenue.

Outlook

The stock retains our BUY recommendation. We keep our target price of Rs 120 per share and value the bank at 0.85x FY23E ABV.

Moneycontrol.com is the source for this information.


11 NOVEMBER 2021

Bank Of Baroda Share Price Target 2022; Should Investors Buy, Sell, or Hold Q2 Results?

Bank Of Baroda’s stock increased 2% in early trading on November 11, a day after the business released its September quarter earnings.

Bank of Baroda recorded a 24 percent increase in net profit for the quarter ended September 2021, bringing the total to Rs 2,088 crore. In the previous financial year, the bank had a net profit of Rs 1,679 crore.

However, the bank’s overall income fell to Rs 20,270.74 crore in the July-September quarter of 2021-22, compared to Rs 20,729.31 in the same quarter of 2020-21, according to a regulatory filing by Bank of Baroda.

Total interest income fell 6.33 percent to Rs 16,692 crore in the quarter, down from Rs 17,820 crore the previous quarter. Non-interest revenue increased by 23% to Rs 3,579 crore from Rs 2,910 crore the previous year.

Following the company’s September quarter earnings, the brokerage had the following to say about the stock:

Jefferies

Jefferies retains an underperform rating on the company and has lifted its target to Rs 82 per share from Rs 70, citing higher Q2 profit due to fewer provisions, which was ahead of expectations. Slippage, however, remained high at 3.5 percent of loans, with total NPL at 8.1 percent and restructured loans at 3%.

CLSA

CLSA has kept its buy recommendation on the stock and raised the target price to Rs 140 per share. The bank, according to the brokerage, is benefiting from the business recovery cycle. Credit costs are expected to normalise to 120-125 basis points by FY23, with a RoE of 10.8-11 percent by FY23/24.

Credit Suisse

The brokerage company surpassed the forecast and raised its target price from Rs 100 to Rs 120 per share. The speed of growth is increasing up, and asset quality is improving. It has a good CET of 11.4 percent, and its RoE is likely to rise to more than 10%. Estimated EPS for FY22E is up 15% due to decreased provisions.

Mottilal Oswal

Even though NII remained under pressure, Bank of Baroda reported a positive profits performance, aided by fewer provisions and greater other revenue. Domestic NIMs fell to 2.9 percent from 22 basis points in the previous quarter. Business trends, on the other hand, increased with a 4 percent QoQ increase driven by the Corporate and Retail book. The retail section is expected to maintain its growing momentum, while the corporate book is steadily improving.

The bank said that asset quality has improved, with CE climbing to 96 percent. We raise our profit estimates for FY22E/FY23E to 39 percent/14 percent, respectively, and predict RoA/RoE of 0.7 percent/10.9 percent by FY23E. With a revised target price of Rs 130 per share, we retain our buy recommendation (0.9x Sep’23E ABV).

LKP Research

On the back of consistent balance sheet expansion, strong PCR, and stable asset quality, we project BoB to produce a ROA of 0.6 percent /8.7% by FY23E. To attain our price objective of Rs 124, we value the Standalone Bank using a PBV of 0.9xFY23E Adj. BVPS of Rs 137. (Revised upwards). With a possible gain of 23 percent, we recommend purchasing.

Moneycontrol.com is the source for this information.


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