DCB Bank Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for DCBBANK, BSE:532772 DCB Bank Ltd.

DCB Bank Ltd.

22 Oct 2019

126.06

1.04%

DCB Bank: Q2FY20 Result Review

Buy: DCB Bank Ltd.

Recommendation Target

IDBI Capital

DCB Bank's net advances growth moderated further to 12% vs 13% sequentially. NII grew by 11% YoY while PAT grew by 24% YoY led by higher other income (up 38% YoY). Loan growth ex-corporate segment is ~16% (19% in Q1FY20) vs. overall growth of 12%. Cost-to-income ratio on a QoQ basis has declined by 195bps on account of stable Opex sequentially. Fresh slippages continue to remain high at 1.6bn up 10% QoQ led by Mortgages/SME and CV portfolio. We maintain ACCUMULATE rating with a new TP of...

DCB Bank Ltd. is trading below all available SMAs

DCB Bank Ltd.

22 Oct 2019

126.06

1.04%

DCB Bank

Buy: DCB Bank Ltd.

Target

ICICI Securities Limited

NII came in line with our estimates at ~| 313 crore, up ~11% YoY, on the back of lower credit growth & steady margin sequentially. Other income growth came in higher than our expectation at ~38% YoY to ~| 101 crore led by multifold growth in trading income & steady growth of 6% QoQ in CEB book, which was at ~| 58 crore in Q2FY20 (~| 55 crore in Q2FY20). Accordingly, operating profit was at | 185 crore, up 26% YoY. Provision continued to remain elevated at | 43 crore, up 36% YoY. The bank also revalued deferred tax asset during the quarter leading to additional...

DCB Bank Ltd. has an average target of 174.57 from 7 brokers.

DCB Bank Ltd.

22 Oct 2019

126.06

1.04%

DCB - 2QFY20 Result Update

Buy: DCB Bank Ltd.

Recommendation

Reliance Securities

A Weak Quarter; Performance Likely to Improve in 2HFY20 DCB Bank has delivered a weak performance in 2QFY20 led by elevated annualised slippages of 2.7% along with continued pressure on NIM (-25bps YoY) and weak loan growth (+12% YoY). PAT grew by 13% YoY (marginally ahead of our estimate), largely aided by higher treasury gains. Gross NPAs increased by 13bps QoQ and 25bps YoY, with rise in segmental NPAs across CV, MSME, mortgage and gold portfolio. CASA grew by a muted 7% YoY, though growth in retail deposits stood at healthy 26% YoY. The Management's endeavor to further granularise its deposit profile should aid the Bank's NIM over the longer-term. We believe unless the advances...

DCB Bank Ltd. has an average target of 174.57 from 7 brokers.

DCB Bank Ltd.

21 Oct 2019

126.06

1.04%

DCB Bank (2QFY20): Slippery Slope. Maintain BUY

Buy: DCB Bank Ltd.

Recommendation Target

HDFC Securities

Yet again, we are compelled to reduce our estimates for DCBB over FY20-22E, as we build slower loan growth and higher slippages. These do not worry us and we like DCBB's relatively conservative approach. Sustainability of oplev improvement seen this qtr (key for RoAA expansion) and the NIM impact of linking of fresh retail loans to external benchmarks, will be watched for. Maintain BUY with a TP of Rs 243 (2 X Sep-21E ABV of Rs 122), especially given the recent correction. DCBBs 2QFY20 disappointed with broad-based asset quality deterioration while sustained cost control and stable margins were silver linings. MAINTAIN BUY with a TP of Rs 243.

Number of FII/FPI investors increased from 133 to 143 in Jun 2025 qtr.

DCB Bank Ltd.

18 Jul 2019

126.06

1.04%

DCB Bank : Q1FY20 Result Review

Accumulate: DCB Bank Ltd.

Recommendation Target

IDBI Capital

DCB's Q1FY20 numbers have overall come in weak and quite below our expectation. NII and PAT growth remained sluggish at 11.5/16.5% YoY vs. our expectation of +15/+24%. Loan growth ex-corporate segment is ~19% vs. overall growth of 13%. Interest expenses were a drag on the topline due to fixed rate refinance being garnered from NABARD and SIDBI. Cost-to-income ratio on a QoQ basis has increased by 370bps on account of salary hikes given. Over FY17-19, loan growth ex-corporate segment has been at 21%-27% which the management now expects at Q1 level of ~19% for FY20. Further, management has also highlighted risk of increased corporate slippages in the...

Number of FII/FPI investors increased from 133 to 143 in Jun 2025 qtr.

DCB Bank Ltd.

18 Jul 2019

126.06

1.04%

EARNINGS UPDATE-DCB BANK 1QFY20

Buy: DCB Bank Ltd.

Target

Chola Wealth Direct

Sector: Banking /Mid-Cap | Earnings Update 1QFY20 Background: DCB Bank Limited (formerly Development Credit Bank Limited) has a deposit base of INR 287bn and advances of INR 241bn at the end of 1QFY20, making it the smallest bank in the listed private sector space, including both new and old generation private sector banks. Promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments holds ~15% stake. DCB services entails Corporate Banking - 13%, SME -12%, Agriculture 20%, Mortgages ...

DCB Bank Ltd. has an average target of 174.57 from 7 brokers.

DCB Bank Ltd.

17 Jul 2019

126.06

1.04%

DCB Bank (1QFY20): Stumble, not yet a fumble Downgrade to NEUTRAL

Neutral: DCB Bank Ltd.

Recommendation Target

HDFC Securities

While DCBB's asset quality slip in 1Q exceeded seasonal trends, our faith is not fully shaken, given management's conservative stance and stellar record across cycles. Our earnings estimates fall by ~8% over FY20-21E to factor in slower growth and NIM compression, with no change in asset quality trajectory. However, valuations are ample at 2.1x FY21E ABV (RoAA ~1.1%). DOWNGRADE to NEUTRAL, despite DCBB's multi-year growth/compounding promise. Our stance is premised on (1) The substantial jump in stress (GNPAs up 8% QoQ), (2) Growth slowing, (unexpectedly) to 13/2% on a small base, and (3) NIM compression 11bps QoQ, that can linger. We are constrained to downgrade DCB Bank (DCBB) to NEUTRAL with a TP of Rs 234 (2x Jun-21E ABV of Rs 117) post a disappointing show in 1QFY20.

DCB Bank Ltd. is trading below all available SMAs

DCB Bank Ltd.

17 Jul 2019

126.06

1.04%

DCB - 1QFY20 Result Update

Hold: DCB Bank Ltd.

Recommendation

Reliance Securities

DCB Bank has delivered a sub-par performance in 1QFY20 led by decline in loan growth to 13% YoY, sequential rise in fresh slippages and NPAs, and continued pressure on margin. Sequential loan growth (at 2% QoQ) moderated across key segments, including mortgage, SME and AIB, though CV and AIB loan growth was healthy at over 25% YoY. Segmental NPAs were higher across segments, barring corporate, where decline in NPA was mainly driven by higher write-offs. Consequently, provision coverage (excluding technical-write-offs) also declined by 600bps QoQ to 59%. Given the management's focus towards increasing share of retail deposits, cost of deposits continued to rise and consequently, NIM was lower by 11bps QoQ and 23 bps YoY. We expect interim...

DCB Bank Ltd. is trading below all available SMAs

DCB Bank Ltd.

17 Jul 2019

126.06

1.04%

DCB Bank

Buy: DCB Bank Ltd.

ICICI Securities Limited

Other income growth came in lower at ~5% YoY to ~| 87 crore, on the back of de-growth of ~9% YoY in CEB book, which was at ~| 55 crore in Q1FY20 (~| 65 crore in Q4FY19). Lower growth in CEB book is attributable to lower credit growth & one off loss in ATM fee income of | 3 crore. Operating profit came in at ~| 167 crore, up 18% YoY, well below our estimates (~| 201 crore) led by muted NII & other income growth. PAT came in at | 81 crore, significantly below estimates. Slippages for the quarter surged 38% YoY to | 148 crore led by stress in...

DCB Bank Ltd. has an average target of 174.57 from 7 brokers.

DCB Bank Ltd.

17 Jul 2019

126.06

1.04%

DCB Bank

Hold: DCB Bank Ltd.

Recommendation Target

Arihant Capital

DCB Bank started Q1FY20 on a weaker note led by lower loan growth and margin pressure. It has reported 17% YoY profit growth & muted 10% YoY growth in total income. Advances growth moderated to 13% YoY on the back of de-growth in the Corporate Loan book and decline in NIMs. Asset quality saw marginal deterioration while corporate book saw some writeoffs in 1QFY20. Given the management's focus towards increasing share of Retail Deposits, cost of deposits continued to increase further and consequently, NIM was declined by 11bps QoQ and 23 bps YoY. We expect asset quality and growth concern to weigh on the bank's earnings visibility....

DCB Bank Ltd. is trading below all available SMAs

Is DCB Bank Ltd. worth buying?

337 Votes:

Buy 81.6%

Sell 11.28%

Hold 7.12%

RESEARCH REPORTS

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