AgenciesAxis Securities has buy call on Federal Bank with a target price of Rs 125. The current market price of Federal Bank Ltd. is Rs 109.25. Time period given by analyst is one year when Federal Bank Ltd. price can reach defined target.
Federal Bank Ltd., incorporated in the year 1931, is a banking company (having a market cap of Rs 22928.25 Crore).
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4318.17 Crore, up 3.54 % from last quarter Total Income of Rs 4170.55 Crore and up 4.11 % from last year same quarter Total Income of Rs 4147.77 Crore. The bank reported net profit after tax of Rs 656.30 Crore in latest quarter.
Investment Rationale
Key positives are increasing retail focus, strong fee income, adequate capitalization, and prudent provisioning. The brokerage expects steady provision requirements along with healthy growth in the balance sheet and NIMs to deliver RoA/RoE of 1.1%/13.3% by FY24E. It maintains a BUY with a target price of Rs 125/share(1.2x FY24E ABV).
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 26.2 per cent, DIIs 42.12 per cent.
Federal Bank Ltd., incorporated in the year 1931, is a banking company (having a market cap of Rs 22928.25 Crore).
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4318.17 Crore, up 3.54 % from last quarter Total Income of Rs 4170.55 Crore and up 4.11 % from last year same quarter Total Income of Rs 4147.77 Crore. The bank reported net profit after tax of Rs 656.30 Crore in latest quarter.
Investment Rationale
Key positives are increasing retail focus, strong fee income, adequate capitalization, and prudent provisioning. The brokerage expects steady provision requirements along with healthy growth in the balance sheet and NIMs to deliver RoA/RoE of 1.1%/13.3% by FY24E. It maintains a BUY with a target price of Rs 125/share(1.2x FY24E ABV).
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 26.2 per cent, DIIs 42.12 per cent.
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