DBS' share price has fallen since its third quarter results, even as it reported a record net profit. We find out if DBS’ prospects look better compared to UOB and OCBC after the third quarter results.
What happened?
The trio of local banks reported another set of strong results in the third quarter.
In fact, DBS reported a record net profit in the third quarter, with its profit rising by 16% compared to the previous year.
This continues a trend we have seen in recent quarters, where DBS also reported a record net profit in the second quarter.
Despite the good earnings performance, DBS’ share price has fallen by about 6% year-to-date as of 24 November, underperforming the Straits Times Index.
Since CEO Piyush Gupta’s share sale earlier in August, DBS share price has fallen by about 7%.
DBS, UOB and OCBC also did not make it to our list of of Singapore blue chip stocks that paid consistent dividend yields.
Source: Beansprout...