Punjab National Bank (IN:PNB)
:PNB
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Punjab National Bank
(PNB)
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Rating:75Outperform
Price Target:
₹113.00
▼(-11.82% Downside)
Action:UpgradedDate:10/23/25
Punjab National Bank's stock is rated positively due to strong financial performance, particularly in revenue growth and profitability. The technical analysis supports a bullish outlook with strong market momentum. Additionally, the stock's valuation suggests it is undervalued, offering potential for price appreciation and a solid dividend yield. These factors collectively contribute to a favorable investment profile.
Positive Factors
Sustained Revenue Growth
A ~10% revenue growth rate indicates durable top-line expansion across retail, MSME and corporate segments. Sustained revenue supports net interest income and fee diversification, enabling reinvestment in branches/digital channels and long-term lending growth without relying on one-off items.
Negative Factors
Asset Utilization Efficiency
A relatively high equity ratio implies capital is conservative but may constrain return on assets and equity. Without better asset turnover or higher-yield loan mix, the bank may struggle to convert capital strength into stronger ROA/ROE, limiting shareholder return over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
A ~10% revenue growth rate indicates durable top-line expansion across retail, MSME and corporate segments. Sustained revenue supports net interest income and fee diversification, enabling reinvestment in branches/digital channels and long-term lending growth without relying on one-off items.
Read all positive factors
Punjab National Bank (PNB) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.20T
Dividend Yield2.4%
Average Volume (3M)998.19K
Price to Earnings (P/E)6.4
Beta (1Y)1.34
Revenue Growth12.10%
EPS Growth12.93%
CountryIN
Employees102,349
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)4.40
Shares Outstanding11,492,943,000
10 Day Avg. Volume1,527,230
30 Day Avg. Volume998,186
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.81
Price to Sales (P/S)0.77
P/FCF Ratio5.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.95
Revenue Forecast (FY)₹665.28B
Punjab National Bank Business Overview & Revenue Model
Company Description
Punjab National Bank provides various banking and financial products and services in India. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations segments. It offers personal banking produ...
How the Company Makes Money
PNB primarily makes money through (1) net interest income and (2) non-interest (fee and other) income.
1) Net interest income (interest-based earnings)
- Interest on loans and advances: A major revenue stream is the interest earned on funds lent ...
Punjab National Bank Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
68
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.47T | 1.40T | 1.24T | 989.09B | 879.77B | 944.04B |
| Gross Profit | 463.86B | 597.61B | 552.61B | 470.92B | 411.54B | 436.00B |
| EBITDA | 270.36B | 268.48B | 149.62B | 59.05B | 55.86B | 53.07B |
| Net Income | 170.35B | 184.80B | 91.07B | 33.48B | 38.61B | 25.62B |
Balance Sheet | ||||||
| Total Assets | 19.21T | 18.58T | 15.99T | 14.94T | 13.39T | 12.80T |
| Cash, Cash Equivalents and Short-Term Investments | 1.48T | 1.51T | 1.31T | 1.57T | 1.34T | 1.13T |
| Total Debt | 1.09T | 2.05T | 725.86B | 701.49B | 593.72B | 522.98B |
| Total Liabilities | 17.78T | 17.24T | 14.88T | 13.90T | 12.41T | 11.87T |
| Stockholders Equity | 1.42T | 1.33T | 1.10T | 1.03T | 975.82B | 925.34B |
Cash Flow | ||||||
| Free Cash Flow | -478.54B | 204.74B | -291.14B | 220.40B | 193.96B | 4.53B |
| Operating Cash Flow | -471.88B | 220.75B | -279.39B | 225.92B | 199.32B | 12.40B |
| Investing Cash Flow | -16.32B | -15.78B | -15.06B | -7.32B | -12.04B | -7.87B |
| Financing Cash Flow | 463.25B | -11.38B | 35.18B | 1.37T | 425.49B | 54.15B |
Punjab National Bank Technical Analysis
Negative
128.15
Price Trends
120.78
Negative
121.35
Negative
115.43
Negative
Market Momentum
-4.97
Positive
29.63
Positive
17.22
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PNB, the sentiment is Negative. The current price of 128.15 is above the 20-day moving average (MA) of 114.02, above the 50-day MA of 120.78, and above the 200-day MA of 115.43, indicating a bearish trend. The MACD of -4.97 indicates Positive momentum. The RSI at 29.63 is Positive, neither overbought nor oversold. The STOCH value of 17.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PNB.
Punjab National Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ₹1.31T | 5.78 | ― | 3.15% | 3.86% | 19.14% | |
81 Outperform | ₹1.30T | 7.03 | ― | 2.86% | 4.40% | -3.84% | |
75 Outperform | ₹1.20T | 6.40 | ― | 2.40% | 12.10% | 12.93% | |
75 Outperform | ₹1.16T | 6.69 | ― | 2.66% | 8.89% | 19.79% | |
69 Neutral | ₹1.20T | 8.96 | ― | 2.07% | 9.74% | 12.56% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | ₹727.40B | 14.17 | ― | 2.08% | 11.31% | 37.17% |
* Financial Sector Average
IN:PNB
Punjab National Bank
104.00
9.40
9.94%
IN:BANKBARODA
Bank of Baroda
252.05
28.26
12.63%
IN:CANBK
Canara Bank
127.35
39.39
44.78%
IN:IDBI
IDBI Bank Limited
67.65
-9.09
-11.85%
IN:INDIANB
Indian Bank
888.10
371.56
71.93%
IN:UNIONBANK
Union Bank of India Limited
171.80
48.86
39.74%
Punjab National Bank Corporate Events
Punjab National Bank Reconfirms Compliance Officer and RTA Details for Listed Securities
Apr 1, 2026
Punjab National Bank has announced details of its designated Compliance Officer and the Registrar and Share Transfer Agents handling its listed equity shares, listed bonds, and unlisted certificates of deposit. The disclosure, made in line with SE...
Punjab National Bank Reshuffles Senior Management Across Key Regions
Mar 31, 2026
Punjab National Bank has announced a series of senior management changes effective 1 April 2026, primarily involving elevations and reassignments to key zonal manager and circle head roles across major regions such as Jaipur, Raipur, Agra, Amritsa...
Punjab National Bank Keeps Lending Rates Unchanged From April 1, 2026
Mar 30, 2026
Punjab National Bank has notified the stock exchanges that its marginal cost of funds based lending rates across various tenors will remain unchanged from April 1, 2026. The bank is also keeping its repo-linked lending rate and base rate steady, s...
Punjab National Bank Reshuffles Statutory Central Auditor Line-up for FY 2025-26
Mar 25, 2026
Punjab National Bank has announced a change in its Statutory Central Auditors for the financial year 2025-26, following a directive from the Reserve Bank of India. M/s P S D Associates, Chartered Accountants, has ceased to be part of the bankR...
Punjab National Bank Keeps MCLR and Lending Rates Unchanged From March 1, 2026
Feb 27, 2026
Punjab National Bank has announced that its Marginal Cost of Funds Based Lending Rates (MCLR) across all key tenors, from overnight to three years, will remain unchanged from March 1, 2026, maintaining previously applicable rates. The bank has als...
Fitch Upgrades Punjab National Bank’s Viability Rating, Affirms BBB- IDR
Feb 25, 2026
Punjab National Bank, a major state-owned lender in India with about 70% government ownership, offers extensive retail and corporate banking services and holds a sizeable share of the domestic financial market. Its strategic importance to the Indi...
Punjab National Bank Discloses RBI Penalty for Currency Chest Note Shortage
Feb 2, 2026
Punjab National Bank has disclosed that the Reserve Bank of India has imposed monetary penalties totaling Rs. 3,60,000 on the bank for shortages of notes at one of its currency chests, in compliance with disclosure requirements under SEBI listing ...
Punjab National Bank Keeps MCLR, Repo-Linked and Base Lending Rates Unchanged
Jan 31, 2026
Punjab National Bank has reviewed its lending rates and announced that its Marginal Cost of Funds Based Lending Rates (MCLR) across all tenors will remain unchanged from February 1, 2026, maintaining existing levels such as 7.95% for overnight and...
Punjab National Bank Warns of Possible Operational Disruptions Amid Nationwide Bank Strike Call
Jan 23, 2026
Punjab National Bank has notified the stock exchanges that the United Forum of Bank Unions, representing nine constituent unions and associations, along with the All India Bank Officers Association, has called for a nationwide bank strike on Tuesd...
RBI Fines Punjab National Bank for Currency Chest Note Shortage
Jan 6, 2026
Punjab National Bank has disclosed that the Reserve Bank of India has imposed a monetary penalty of Rs 4.85 lakh on the bank due to a shortage of notes detected at one of its currency chests. The bank stated that the impact of the action is limite...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.