0335 GMT - DBS may return more surplus capital to investors, UOB Kay Hian analyst Jonathan Koh says in a research note as the brokerage raises the stock's target price to S$40.75 from S$40.25 with an unchanged buy rating. Management will continue to review DBS' capital structure, with surplus capital potentially returned to shareholders via special dividend and share buyback assuming there's no escalation in the Russia-Ukraine war and Israel-Hamas war, the analyst notes. For this year, management expects double-digit growth for fee income, driven by wealth management and cards, and anticipates the cost-to-income ratio to be in low-40%, the analyst adds. The stock is 0.7% lower at S$32.30. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 12, 2024 22:35 ET (03:35 GMT)
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