Canara Bank Stock Price Analysis and Quick Research Report. Is Canara Bank an attractive stock to invest in?

The Indian Banking sector is rising rapidly due to infrastructure spending, favorable government policy, rising disposable income and increasing consumerism and easier access to credit.

The banking industry is in boom with growing demand across India. But is it the right time to invest in banking stocks is the question to be asked? We can look into more details and dig a little deeper into the analysis of the stock.

Let’s look at how Canara Bank is performing and if it is the right time to buy the stock of Canara Bank with detailed analysis. Canara Bank stock price today is Rs 111.46.

•  For Banking companies, The primary source of Income is interest earned on various loans given to individuals and corporates. Canara Bank has earned Rs 119755.069 Cr. revenue in the latest financial year. Canara Bank has posted outstanding revenue growth of 19.9377778872044 % in last 3 Years.

• In terms of advances, Canara Bank reported 12.6171 % YOY,  rise . If you see 3 years advance growth, it stands at 14.245096478874 %.

• Currently, Canara Bank has a CASA ratio of 28.4889 %. It’s overall cost of liability stands at 5.3463 %. Also, the total deposits from these accounts stood at Rs 1456883.1765 Cr.

• Canara Bank has a average ROA track record. The ROA of Canara Bank is at 1.0728 %.

• The Lender is efficiently  managing it’s overall asset portfolio. The Gross NPA and Net NPA of Canara Bank stood at 2.94 % and 0.7 % respectively as on the latest financial year.

• One other important measure of banks’ financial health is provisioning coverage ratio. The YoY change in provision and contingencies is negative at -9.72449526753666 % which means it has decreased from the previous year.

• Non-Interest income or other incomes are very important for banks as it gives a regular source of income for bank with no additional risk. Other income of Canara Bank surged and is currently at Rs 22452.8027 Cr.

• Canara Bank has a Good Capital Adequacy Ratio of 16.33 .

• The best metric which provides insights about bank’s valuation is P/B ratio. Currently Canara Bank is trading at a P/B of 1.0818 . The historical average PB was 0.842169873973128.

• Share Price: - The current share price of Canara Bank is Rs 111.46. One can use valuation calculators of ticker to know if Canara Bank share price is undervalued or overvalued.