Canara Bank Share Price Target 2023, 2024, 2025, 2030

Canara Bank Share Price Target

Canara Bank Share Price Target 2023, 2024, 2025, 2030 | Will Canara bank share price will increase? We can see the target price for Canara bank for year 2023, 2025 and 2030 will be, Rs.435, Rs.761 and Rs.1576 respectively.

Canara Bank Share Price Target 2023, 2024, 2025, 2030

Canara Bank Business Overview

In the world’s fastest growing economy Canara Bank has created its position with its reliability and innovative banking. The bank is established in July 1906 by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist at the time in small town of Karnataka at ‘Mangalore’.

Canara Bank is widely known for its customer centric approach, and the journey of more than 100 years the company has gone steadily passing through various phases of the growth. After the nationalization happened in 1969 the company has expanded its business phenomenally and today it has become one of the premiere banks as compared to its peers.

Also Canara bank has achieved prominence presence after the expansion on national level. The market reach of Canara Bank has grown throughout time, and it has grown into a significant financial conglomerate with thirteen sponsored institutions in India and internationally.

The bank serves more than 10.9 crore customers as of March 2023 through a vast network of 9,706 branches and 12,130 ATMs/Recyclers that spans all Indian states and Union Territories.

Canara Bank Share Price Forecast

After analyzing the track record and fundamentals of the Canara Bank, our estimated target prices for Canara bank are,

YearFirst TargetSecond Target
Canara Bank Share Price Target 2023351435
Canara Bank Share Price Target 2024462598
Canara Bank Share Price Target 2025573761
Canara Bank Share Price Target 203011281576
Canara Bank Share Price Target 2023, 2024, 2025, 2030

Now we will go through the each factors that will affect the Canara Bank Future Share Price.

Canara Bank Share Price Chart
Canara Bank Share Price Chart

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Canara Bank Fundamental Analysis

  • Market capitalization – As of July 2023 market capitalization of Canara Bank is Rs.61,626 crores
  • Debt to equity ratio – Debt to equity ratio is 0.88
  • PE ratio – Profit to earnings ratio of Canara bank is 5.48 against the sector PE of 16.58
  • PB ratio – PB ratio of Canara bank is 0.78 against the sector PB of 2.46
  • ROE % – Return on Equity is 48.06% for last one year

Canara Bank has given average performance when it comes to return on investment, so not much excited. But the stock is potentially strong and currently it is underpriced, not in overbought zone. We must say by the end of year 2023, Canara bank share price target will be minimum target of Rs.351 and maximum it will reach the target of Rs.435 considering positive sentiments in Indian stock market.

Also read – IDFC First Bank Share Price Target 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030

Canara Bank Financial Performance

Canara Bank’s financial results for recent quarters are shown in below chart, which we can see company has shown consistent profit in each financial results. And income of the company is steadily growing quarter by quarter which is good sign.

Quarterly resultsJune-23March-23December-22September-22June-22
Total Income in crores32259.4131774.0428338.0827358.3723739.27
Total Income Growth in %1.5312.123.5815.25-3.18
Provisions & Contingencies in crores2719.643097.613123.503637.733688.78
Provisions & Contingencies Growth in %-12.2-0.83-14.14-1.38-1.03
PAT (Profit after Tax) in crores3738.933336.513032.922705.552179.77
PAT Growth in %12.0610.0112.124.1213.6
Gross NPA (Non-performing asset) in %5.165.355.96.376.99
Net NPA (Non-performing asset) in %1.571.731.962.192.48
Net Profit Margin in %11.5910.510.79.899.18
Basic EPS(Earning per share) in INR20.6118.3916.7214.9112.02
Canara Bank Financial Performance

Canara Bank has been showing consistency and efficiency in profitability, so this will drive the Canara Bank’s share price in upcoming years. Our target for year 2024 will be, first target is Rs.498 and second target will be around Rs.598

Please check this article – ICICI Bank Share Price Target 2023, 2024, 2025, 2026, 2030, 2040 and 2050: Share Price Projections

Canara Bank Share Price Target 2025

Canara bank’s distinct features and initiatives have left the long lasting impact on the banking industry. Its Launching of Inter-City ATM Network has enabled the customers to the inter-city ATM accessibility and bank has proved its customer centric approach here.

The bank’s commitment to quality service was recognized through its ISO certification for a branch, showcasing its dedication to excellence.

Canara Bank set an example by defining “Good Banking” through its Banks Citizen Charter articulation with highly transparent and customer orientated service.

Bank has taken step towards women empowerment and launched an exclusive Mahila Banking Branch to cater the financial needs of women.

These initiatives and developments of the company will definitely attract a unique and loyal customers towards Canara Bank. So company will see the growth in upcoming years, our target for Canara Bank Share Price for year 2025 will be as follow, first target will be Rs.573 and second target will be around Rs.761

Canara Bank Share Price Target 2030

Company’s innovative and customer focused approach have developed the credit cards specifically designed for farmers, supporting their financial requirements. Along with that company has always been supportive to agriculture development in country, so with a focus on rural development, the bank offered agricultural consultancy services, aiding farmers in enhancing productivity.

Looking at the plans executed by company we can see the target price for year 2030 will be as follow, first target is around Rs.1128 and second target will be around Rs.1576

Also read – Investment Growth: Yes Bank Share Price Target 2023, 2024, 2025, 2026, 2030 and 2040

CANARA BANK: A Vision for the Future

Canara Bank regularly participates in a number of corporate social responsibilities, therefore its influence goes beyond commercial banking. Through specialized training facilities, the bank is committed to supporting national priorities, encouraging rural development, and empowering rural self-employment.

Canara Bank has a strong emphasis on financial inclusion, which is consistent with its basic ideals and reflects the founder’s vision, Shri Ammembal Subba Rao Pai, to improve the economic circumstances of the average person.

Canara Bank’s success throughout its first century can be credited to the backing of its esteemed clients, stakeholders, hard-working employees, and forward-thinking management. The bank looks forward to an equally fruitful and exciting future while serving the country and working to become the “Best Bank to Bank with.”

Canara Bank continues to be dedicated to its objective of enabling progress and enhancing lives by adhering to industry benchmarks in profitability, operational efficiency, asset quality, risk management, and digital innovation.

“Is Canara Bank Share a good Buy”

The development of Canara Bank from its modest origins to its current status as a significant Financial Conglomerate demonstrates its dedication to quality and customer-centricity. The bank continues to expand on its heritage as it enters the twenty-first century, making a contribution to society while adhering to its core values.

Canara Bank is well-positioned to create a bright and prosperous future for both itself and the country it serves by placing a strong emphasis on inclusive growth and forward-thinking tactics. So our advice for “Is it good to buy Canara bank shares now” is yes, one can hold the share for long run for better returns.

Still we encourage you to do study properly using the details covered in article and take your financial advisory before investment as it involves risks.

When was Canara Bank founded?

Canara Bank is founded in July 1906 by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist

What is the future prediction of Canara Bank share?

As per study conducted the canara bank is good stock to buy for long term to gain better returns. By year 2030 “CANBK” stock price will reach around Rs.1576

What is the share price of Canara Bank in 2023?

Canara bank share price target for year 2023 will be minimum target of Rs.351 and maximum it will reach the target of Rs.435

What is the share price of Canara Bank in 2024?

Canara bank share price target for year 2024 will be minimum target of Rs.462 and maximum it will reach the target of Rs.598

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