PSU Bank Stock To Buy Before Q2 FY25 Results, TP Rs 1000, Will It Declare Dividend?

Large cap public sector undertaking, State Bank of India shares gained over 2% in last 1-week and 43% in last 1-year. Last trading price of State Bank of India shares on BSE is Rs 819.95 per share with gain of 1.12%. The public sector bank will consider Q2 FY25 results on November 8, 2024. The bank's market capitalisation is Rs 7,31,773.56 crore. State Bank of India offers a dividend yield of 1.67% however the bank has no plan to declare dividend along with the upcoming financial results. Institutional Investors have increased holdings from 34.79% to 34.81% in September 2024 quarter. Mutual Funds have increased holdings from 11.12% to 11.46% in September 2024 quarter. FII/FPI have decreased holdings from 11.15% to 10.71% in September 2024 quarter. Life insurance corporation of india (LIC) stake in SBI stood at 9.31% with 822,743,751 shares of the bank. Check details below:

State Bank of India To Consider Financial Results: As per the BSE filing of State Bank of India dated October 18, "we inform that a meeting of the Central Board of the Bank will be held on Friday, 8th November 2024 at Mumbai, to consider the financial results of the Bank for the quarter and half year ended 30 th September 2024."

State Bank of India Shares Performance: The 52-week high price of SBI shares on BSE is Rs 912.10 apiece (as on 03/06/2024) and 52-week low price is quoting Rs 543.15 apiece (as on 26/10/2023), respectively. SBI shares gained over 3% in last 1-month, slipped over 8% in last 3-months, jumped 10% in last 6-months, offered return of 28% so far in 2024, and surged 204% in last 5-years.

Should You Buy SBI Bank Shares? ICICI Securities recommended investors to buy SBI shares with target price of Rs 1000.

SBI Dividend History: SBI announced a total of 23 dividends since July 2, 2001. In last 1-year, SBI recommended an equity dividend amounting to Rs 13.70 per share. At the current share price of Rs 819.95 per share, State Bank of India offers a dividend yield of 1.67%.

SBI Stock Split History: State Bank of India split face value of its share once since November 20, 2014. The PSB last sub-divided the face value of its shares from Rs 10 to Re 1 in 2014.SBI share traded ex-split as on November 20, 2014.

Disclaimer:

The stock has been picked from the brokerage report of ICICI Securities. 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 consult with certified experts before making any investment decision.