Since DBS began its share buyback programme, it has bought back 4.05 million shares at an average price of $43.56, at prices ranging from as low as $41.84 to as high as $44.95.
DBS Group Holdings has guided for a "slight decline" in net interest income but Carmen Lee of OCBC Investment Research has kept her "hold" call on DBS Group Holdings, with a view that the bank's $3 billion share buyback, which commenced on Nov 28, will support the share price.
Furthermore, with a more attractive dividend of some 4.9% relative to other investments, DBS shares will continue to be favoured, says Lee in her Dec 16 note, as she raised her fair value to $45.20 from $43.60.
