DBS Share Performance Could Depend on Pace of Buyback -- Market Talk

Dow Jones11-08

0755 GMT - DBS Group's share-price performance may depend on how fast it completes the recently announced S$3 billion buyback program, Morningstar senior equity analyst Michael Makdad says in a note. The share buyback sets a precedent for Singapore banks, which traditionally favor dividends over large repurchases to return capital to shareholders, the analyst says. With a new CEO coming in 2025, the buyback could reflect a strategic review of capital needs, the analyst says. He thinks investors can expect more such shareholder returns in the coming years if capital levels and capital generation remain robust. Morningstar maintains the stock's fair-value estimate at S$44.00. Shares are last 1.5% higher at S$42.32. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 02:55 ET (07:55 GMT)

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He thinks investors can expect more such shareholder returns in the coming years if capital levels and capital generation remain robust. Morningstar maintains the stock's fair-value estimate at S$44.00. Shares are last 1.5% higher at S$42.32. 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