UOB has proposed a final dividend of 92 cents per share and a special dividend of 50 cents per share in 2025 as part of the bank’s 90th anniversary. Morningstar has increased its target price to $41, saying that the increase matches the 2.5% increase in UOB’s book value since 3QFY2024. The firm’s analyst, Michael Makdad, has also maintained his “four-star” rating with a higher target price of $41 from $40 previously.
Analysts see upside potential for United Overseas Bank (SGX:U11
) (UOB) shares following the bank’s FY2024 results for the year ended Dec 31, 2024, which surpassed expectations by 1%. However, UOB’s 4QFY2024 results fell short of consensus estimates by 4%.
On Feb 19, UOB reported a record net profit of $6 billion for the year, 6% higher y-o-y, thanks mainly to strong net fee income and trading and investment income. The bank’s 4QFY2024 net profit stood at $1.5 billion, up 9% y-o-y but 5% lower on a q-o-q basis.
