5.5/Share Dividend: PSU Bank To Trade Ex-Dividend Soon, Motilal Oswal Assigns Buy Call

Indian public sector bank headquartered in Vadodara, Bank of Baroda on May 16 recommended a dividend of Rs 5.50 per share. The record date for the dividend is June 30, 2023. Meanwhile, brokerage firm Motilal Oswal, in its report dated May 17, assigned buy call to Bank of Baroda share with a target price of Rs 240 apiece. If you buy Bank of Baroda share now at current market price of 197.25 per share, you can fetch likely return of 22%. Check details below:

Bank of Baroda Stock Performance & Return: Current market price of Bank of Baroda share is Rs 197.25 per share with intraday surge of 1.18%. Its 52-week high price is Rs 197.80 per share and 52-week low price is Rs 91.85 per share, respectively. The stock traded its new 52-week high price today. In last 3-months, Bank of Baroda shares gave return of 21%, 11% return in last 6-months, 105% return in last 1-year, and 319% return in last 3-years.

Bank of Baroda Dividend: According to the regulatory filing of the bank, "recommended a dividend at Rs. 5.50 (Rupees Five and Fifty Paise only) per equity share (Face Value Rs.2/- each fully paid up) for the FY2022-23 subject to declaration / approval at the ensuing 27th Annual General Meeting."

Bank of Baroda Valuation: According to Motilal Oswal, "We value the stock at INR240 (premised on 1.1x Sep'24E ABV). We reiterate our BUY rating on BOB."

Bank of Baroda Q4: The bank announced its net interest income (NII) for the quarter soared 33.8% to Rs 11,525 crore. It is worth noting that the NII jumped 26.8% YoY for FY23 to Rs 41,355 crore. Meanwhile, the global NIM came at 3.53% for Q4FY23, registering a rise of 45 bps YoY. NIM for FY23 registered at 3.31 % as against 3.03% for FY22. Domestic NIM registered at 3.65% for Q4FY23, up 51 bps YoY. NIM for FY23 registered at 3.42% as against 3.09% announced in FY22.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.