One of India’s largest public sector banks, Canara Bank, has been a dependable participant in the financial system for more than a century. The bank, which has a sizable presence all across the nation, has been growing its operations and services to meet the shifting needs of its clients. Investors are interested in Canara Bank’s shares because of their potential for growth as the banking sector continues to change. By examining the variables that are most likely to have an impact on the bank’s performance and offering insights into the prospective growth trajectory of its shares, this article will examine Canara Bank’s share price objective from 2023 to 2030.
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CANARA BANK IN RECENT NEWS
- SBI acquires Canara Bank’s stake in a Russian joint venture for Rs 121 crore.
- Canara Bank appoints Uday Sankar Majumder as its new Chief Risk Officer.
CANARA BANK SHARE PRICE TARGET 2023
| CANARA BANK SHARE PRICE TARGET 2023 | Maximum Price | Minimum Price |
| March 2023 | ₹287.20 | ₹220.92 |
| April 2023 | ₹315.92 | ₹243.02 |
| May 2023 | ₹263.27 | ₹202.51 |
| June 2023 | ₹315.92 | ₹243.02 |
| July 2023 | ₹379.10 | ₹291.62 |
| August 2023 | ₹417.01 | ₹320.78 |
| September 2023 | ₹437.87 | ₹336.82 |
| October 2023 | ₹417.01 | ₹320.78 |
| November 2023 | ₹458.72 | ₹352.86 |
| December 2023 | ₹513.76 | ₹395.20 |
Canara Bank’s share price target for 2023 appears to be quite volatile. The share price is expected to range from a minimum of ₹202.51 in May 2023 to a maximum of ₹513.76 in December 2023. The maximum share price target of ₹513.76 in December 2023 indicates a potential growth of over 100% from the minimum share price target of ₹202.51 in May 2023. It’s worth noting that the share prices in June and October 2023 are expected to be the same as those in April and August 2023, respectively. As Canara Bank continues to expand its operations and services, investors will be closely monitoring its performance and keeping an eye on the share price fluctuations throughout the year.
CANARA BANK SHARE PRICE TARGET 2024
| CANARA BANK SHARE PRICE TARGET 2024 | Maximum Price | Minimum Price |
| January 2024 | ₹540.80 | 1037.03 |
| February 2024 | ₹607.64 | ₹506.37 |
| March 2024 | ₹639.62 | ₹520.02 |
| April 2024 | ₹581.48 | ₹447.29 |
| May 2024 | ₹484.56 | ₹372.74 |
| June 2024 | ₹581.48 | ₹447.29 |
| July 2024 | ₹494.25 | ₹383.14 |
| August 2024 | ₹543.68 | ₹431.49 |
| September 2024 | ₹570.86 | ₹439.13 |
| October 2024 | ₹671.60 | ₹516.62 |
| November 2024 | ₹705.19 | ₹542.45 |
| December 2024 | ₹719.29 | ₹553.30 |
Canara Bank’s share price target for 2024 seems to be on an upward trend. The share price is expected to range from a minimum of ₹372.74 in May 2024 to a maximum of ₹1037.03 in January 2024. This indicates a potential growth of over 175% in just one month. The minimum share price target in May 2024 is significantly higher than the minimum share price target in 2023, indicating that the bank’s performance is expected to improve in the coming years. It’s worth noting that the share prices in June and August 2024 are expected to be the same as those in April and September 2024, respectively. As Canara Bank continues to strengthen its position in the financial industry, investors will be keenly watching its performance and keeping an eye on the share price fluctuations throughout 2024.
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CANARA BANK SHARE PRICE TARGET 2025
| CANARA BANK SHARE PRICE TARGET 2025 | Maximum Price | Minimum Price |
| January 2025 | ₹733.67 | ₹564.37 |
| February 2025 | ₹772.29 | ₹594.07 |
| March 2025 | ₹810.90 | ₹623.77 |
| April 2025 | ₹724.02 | ₹556.94 |
| May 2025 | ₹658.20 | ₹506.31 |
| June 2025 | ₹724.02 | ₹556.94 |
| July 2025 | ₹689.54 | ₹530.42 |
| August 2025 | ₹718.27 | ₹552.52 |
| September 2025 | ₹754.19 | ₹580.15 |
| October 2025 | ₹799.44 | ₹614.95 |
| November 2025 | ₹855.40 | ₹658.00 |
| December 2025 | ₹872.51 | ₹671.16 |
Canara Bank’s share price target for 2025 seems to continue on an upward trend. The share price is expected to range from a minimum of ₹506.31 in May 2025 to a maximum of ₹872.51 in December 2025. This indicates a potential growth of over 70% in just one year. The maximum share price target in December 2025 is significantly higher than the maximum share price target in 2024, indicating that the bank’s performance is expected to continue improving in the coming years. It’s worth noting that the share prices in June and August 2025 are expected to be the same as those in April and September 2025, respectively. As Canara Bank continues to expand its reach and offer innovative financial products and services, investors will be closely monitoring its performance and keeping an eye on the share price fluctuations throughout 2025.
CANARA BANK SHARE PRICE TARGET 2026 TO 2030
| CANARA BANK SHARE PRICE TARGET BY | Maximum Price | Minimum Price |
| 2026 | ₹610.76 | ₹427.53 |
| 2027 | ₹519.14 | ₹363.40 |
| 2028 | ₹934.46 | ₹654.12 |
| 2029 | ₹1,919.52 | ₹1,343.66 |
| 2030 | ₹2,137.65 | ₹1,496.35 |
Canara Bank’s share price target for the period of 2026 to 2030 shows a mixed trend. In 2026, the share price is expected to range from a minimum of ₹427.53 to a maximum of ₹610.76, indicating a moderate growth in share price. However, in 2027, the expected share price range drops to a minimum of ₹363.40 and a maximum of ₹519.14, which is a significant decrease compared to the previous year.
In 2028, the share price is expected to experience a substantial increase, with a maximum target of ₹934.46 and a minimum target of ₹654.12. The maximum share price target for 2029 is even higher at ₹1,919.52, which is more than double the maximum target in 2028. The expected minimum target for 2029 is also significantly higher than the previous year, at ₹1,343.66.
Looking further ahead to 2030, the share price is expected to continue growing, with a maximum target of ₹2,137.65 and a minimum target of ₹1,496.35.
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FINANCIAL STRENGTH OF CANARA BANK (2018 TO 2022)
| ANNUAL | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
| Total Income | 94,256.88 | 93,659.75 | 61,558.16 | 57,858.26 | 48,743.32 |
| Total Income Growth (%) | 0.64 | 52.15 | 6.39 | 18.70 | -1.15 |
| Provisions & Contingencies | 17,502.62 | 17,490.37 | 11,696.51 | 10,406.53 | 13,879.93 |
| Provisions & Contingencies Growth (%) | 0.07 | 49.53 | 12.40 | -25.02 | 75.19 |
| Profit after Tax (PAT) | 6,124.82 | 2,890.60 | -1,986.43 | 601.85 | -3,951.40 |
| PAT Growth (%) | 114.48 | – | -469.64 | – | -431.33 |
| Net Interest Margin (%) | 2.19 | 2.12 | 1.88 | 2.19 | 1.93 |
| Net Profit Margin (%) | 8.67 | 4.11 | -3.99 | 1.25 | -9.55 |
| Basic EPS (₹) | 35.04 | 19.11 | -23.55 | 8.18 | -65.95 |
Canara Bank’s financial statement over the past five years shows mixed results in terms of growth. The bank’s total income has gradually increased over the years, reaching a maximum of ₹94,256.88 crores in FY 2022. The bank has also managed to maintain a consistent growth rate in total income, with a growth rate of 0.64% in FY 2022 compared to the previous year. However, the bank’s provisions and contingencies have also increased steadily over the years, with a maximum of ₹17,502.62 crores in FY 2022. Despite this, the bank has been able to significantly improve its profit after tax (PAT), with a growth rate of 114.48% in FY 2022 compared to the previous year. The bank’s basic earnings per share (EPS) have also improved, reaching a maximum of ₹35.04 in FY 2022. Overall, Canara Bank has shown improvement in terms of revenue growth and profit growth, but it is important to note the fluctuations in provisions and contingencies which have impacted the bank’s net profit margin negatively in the past.
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FAQ’s
What is the maximum share price target of Canara Bank in 2026?
The maximum share price target of Canara Bank in 2026 is Rs. 610.76
What is the maximum share price target of Canara Bank in 2027?
The maximum share price target of Canara Bank in 2027 is Rs. 519.14
What is the maximum share price target of Canara Bank in 2028?
The maximum share price target of Canara Bank in 2028 is Rs. 934.46
What is the maximum share price target of Canara Bank in 2029?
The maximum share price target of Canara Bank in 2029 is Rs. 1919.52
What is the maximum share price target of Canara Bank in 2030?
The maximum share price target of Canara Bank in 2030 is Rs. 2137.65
CONCLUSION: CANARA BANK SHARE PRICE TARGET
Canara Bank has had inconsistent performance, according to its financial statements for the last five years. The bank declared a loss in FY 2020 even though it increased its overall income and PAT in FY 2022. In the previous two years, the bank’s revenue increased, but in FY 2019, it decreased. Moreover, the profit growth has been erratic, falling in both FY 2018 and FY 2020. Yet, the bank claimed that their PAT growth in FY 2022 grew significantly more than it did the year before. The bank’s financial performance has often been erratic. As a result, prospective investors should proceed cautiously and conduct careful study before making any investments.
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