SBI share price target: Have SBI stock in your portfolio? Stock may touch Rs 1,000 level

SBI share price today, SBI share price target: Is SBI a good buy today? Shares of State Bank of India (SBI) hogged the limelight on Friday, May 10 following brokerages' mixed reaction, a day after the country’s leading state-run lender released its March quarter results beating analysts' estimates by a wide margin. The SBI stock rose as much as 1.4 per cent to the day's high of Rs 832.05 on NSE. The counter closed at Rs 816.85, down 0.36 per cent on NSE. 

SBI share price target: Is SBI a good buy? Brokerages mixed

Jefferies, CLSA, and Nomura have maintained a 'buy' call each on the State Bank of India (SBI) stock. While Jefferies and Nomura have paced the targets at Rs 810 and Rs 825, CLSA has set the target at Rs 1000, a raise of Rs 200 from the old target. 

On the flip side, Citi has maintained a 'sell' call on the stock but with a raised target of Rs 705 from Rs 600 earlier. Meanwhile, HSBC has given a 'hold' rating with a Rs 200 raise in target to Rs 900.

JPMorgan has maintained an 'overweight' rating on the stock. The brokerage has raised the target to Rs 1,000 from Rs 725 earlier. 

Morgan Stanley has maintained an 'equal-weight' rating with a target of Rs 750. Macquarie has maintained a 'neutral' rating on SBI with a target of Rs 615.

SBI Q4 results

The bank posted standalone net profit of Rs 20,698.35 crore as against Zee Business research estimates of Rs 14,590 crore in the January-March quarter. 

Net Interest Income (NII) at the lender grew by 3.13 per cent on year to Rs 41,655 in the March-ended quarter as against Rs 40,393 crore in the same quarter of the previous fiscal year. On a sequential basis (QoQ), the NII registered a growth of 4.62 per cent. Net Interest Income (NII) for FY24 increased by 10.38% on-year, highlighted the lender's press release. The research desk anticipated the metric to log a marginal growth of 1.25 per cent on-year to Rs 40,900 crore. Read more on SBI Q4 results

SBI dividend

SBI has announced a dividend of Rs 13.7 per share for the fiscal year 2023-2024.

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