In the correction phase of the stock market, investors are looking for stocks with reasonable valuations. In this market, investors are also eyeing the private banking stock South Indian Bank Ltd. Shares of South Indian Bank closed at Rs 24.85 on Friday. In the last one month, this stock has been almost in the same position as it was earlier. In the last one month, this stock has seen a growth of only 2%.

Brokerage firm Geojit Financial Services has recommended an 'Accumulate' rating on shares of South Indian Bank (SIB) Ltd. The firm said that the bank is revamping its balance sheet with quality loans and a better CASA mix. It expects loan growth of 12 percent during FY25-26. "As the percentage of new book is increasing, ROE is expected to be 13% by FY26," the brokerage firm said.

Shares of South Indian Bank Ltd closed 1.43 percent higher at Rs 24.85 on Friday. Over 20.06 lakh equity shares were traded on the day. The total market capitalization of this bank is Rs 6501.45 crore.

South Indian Bank Share Price Target

Geojit Financial Services has set a short-term target of Rs 27 for this bank. However, as per the current market price of Rs 24.85, SIB shares have a growth of about 8 percent. The brokerage firm expects the bank to deliver 1 percent ROA in the medium term.

5 analysts on Trendline are giving Strong Buy rating on this backing stock and their average target is Rs 33.75 which implies a growth of 35% from the current level.

South Indian Bank Share Price History
 

South Indian Bank Limited shares have given a positive return of 10.16 percent and 1.14 percent in the last 1 week and 1 month respectively. The shares of the private bank have declined by 0.80 percent and 6.48 percent in the last 2 weeks and 3 months. On a YTD basis, the shares of the bank have gained 0.61 percent. The shares of the bank have grown by 11.45 percent, 96.83 percent, 185.94 percent, 131.75 percent, and 6.98 percent in the last 1 year, 2 years, 3 years, 5 years, and 10 years respectively.

South Indian Bank Dividend History

This year, South Indian Bank declared a dividend of Rs 0.30 with an ex-date of August 20. The company also declared a dividend of Rs 0.25 in 2019 and Rs 0.30 in 2023. In the year 2017 and 2018, the bank declared a dividend of Rs 0.40 each.

South Indian Bank Dividend Yield

The dividend yield of South Indian Bank Ltd. at the current market price is 1.21 percent. South Indian Bank has declared a bonus in the ratio of 1:4 with an ex-date of October 16, 2008.