State Bank of India Share Price Target 2026: Analyst Forecasts, Bull & Bear Case

Wed Apr 01 2026

State Bank of India (SBIN) — Share price data and analyst target overview, April 2026

SBI shares have underperformed in the past year, down approximately 5% from Rs.912 highs to a current level of Rs.770. Yet the fundamental story remains intact — India’s largest public sector bank continues to grow its loan book at 14-15% YoY, maintain asset quality, and generate ROE above 15%. Analyst consensus sits at Rs.880, implying 14% upside, making SBI one of the most attractively valued large-cap banks entering FY27.

As of April 2026, State Bank of India trades at Rs. 770 with a 52-week range of Rs. 680 to Rs. 912. Market capitalisation stands at Rs. 6.87 Lakh Cr. The analyst consensus target is Rs. 880, implying ~14% upside to consensus.

Table of Contents

Key Share Price Data at a Glance

Metric	Value	Notes
Current Market Price	Rs. 770	NSE, April 2026
52-Week High	Rs. 912	Annual peak
52-Week Low	Rs. 680	Annual trough
Market Cap	Rs. 6.87 Lakh Cr	As of April 2026
P/E Ratio	9.5x	FY26/FY27 estimate
Dividend Yield	~1.8%	Trailing 12-month
1-Year Return	-5%	vs Nifty 50

Source: NSE/BSE, Screener.in, Tickertape — April 2026. Verify before investing.

Why State Bank of India Is in Focus Right Now

SBI’s Q3 FY26 PAT crossed Rs.16,890 crore — a YoY growth of 84% driven by lower provisions and strong NII growth. Gross NPA declined to 2.07% — the lowest in over a decade — reflecting the asset quality clean-up that has been underway since FY21. The bank’s YONO platform has over 75 million registered users, making it one of India’s largest digital financial services platforms. With the RBI rate cut cycle beginning, SBI’s large floating-rate loan book stands to benefit from faster loan demand pickup.

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State Bank of India Share Price Target 2026 — Analyst Consensus

State Bank of India share price targets — bear case Rs. 700, consensus Rs. 880, bull case Rs. 1,000

The analyst consensus for State Bank of India share price target 2026 stands at Rs. 880 across buy (majority buy across 28 analysts). Here is how the targets break down:

Brokerage	Rating	12M Target	Scenario
Motilal Oswal	Buy	Rs. 950	Bear/Cautious
Goldman Sachs	Buy	Rs. 1,000	Base Case
Kotak Institutional	Add	Rs. 880	Base Case
Emkay Global	Buy	Rs. 840	Bull
Consensus Average	Buy	Rs. 880	~14% upside to consensus

Source: Publicly available analyst notes and consensus data — April 2026. Targets are estimates. Not investment advice.

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Bull Case — What Would Drive the Stock Higher

Analysts at Motilal Oswal and Goldman Sachs have targets of Rs.950-1,000, built on SBI sustaining 14% loan CAGR through FY27, NIM stabilising at 3.2-3.4%, and ROE improving toward 18%. At Rs.1,000, SBI would trade at approximately 1.5x book value — still a discount to private sector peers but a fair premium for India’s most systemically important bank.

Bear Case — What Could Hold the Stock Back

SBI’s government ownership means periodic pressures on lending decisions — priority sector mandates, Kisan Credit Card expansion, and government scheme financing can create hidden credit risk that is difficult to model. A deeper-than-expected economic slowdown, particularly in MSME and agricultural lending, would spike slippages and reverse the impressive asset quality improvement of recent years.

5 Factors Supporting the State Bank of India Share Price Outlook

Gross NPA at 2.07% — the lowest in over a decade — demonstrates the asset quality clean-up is structurally complete and not cyclical
RBI rate cut cycle benefits SBI disproportionately as its large fixed-deposit base re-prices slower than its floating-rate loan book
YONO platform with 75 million users provides a low-cost digital customer acquisition engine that no private bank can match at scale
SBI’s infrastructure financing book benefits from India’s Rs.11 lakh crore capex cycle — road, port, renewable energy, and railway projects
At 9.5x PE and 1.1x book, SBI offers the best value proposition among large-cap Indian banks on a risk-adjusted basis

5 Key Risks to Watch for State Bank of India Investors

Government interference in lending decisions — periodic mandates for concessional loans to priority sectors create hidden credit risk
MSME and agricultural loan portfolio contains structural stress that is partially masked by government guarantee schemes
Pension liability — SBI has one of India’s largest defined-benefit pension obligations, which is sensitive to interest rate assumptions and actuarial changes
Competitive pressure from private banks on deposits — HDFC Bank and ICICI Bank are aggressively targeting SBI’s urban salaried deposit base through digital channels
Any state election cycle can trigger government pressure on SBI for farm loan waivers or debt restructuring that bypasses commercial logic

Conclusion

SBI at Rs.770 is the most attractively valued large-cap bank in India by most conventional metrics — 9.5x PE, 1.1x book, and 1.8% dividend yield. The consensus target of Rs.880 implies 14% upside, and the fundamental story — NPA cleanup complete, loan growth healthy, YONO scaling — is intact. For investors looking for value in the financial sector without paying a premium for private bank pedigree, SBI remains the strongest candidate in the Nifty 50.

This article is for informational and educational purposes only. Investments in securities are subject to market risk. All analyst targets are estimates based on publicly available information and do not constitute investment advice. Consult a SEBI-registered financial advisor before making any investment decisions.

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Frequently Asked Questions

What is the State Bank of India share price target for 2026?

The State Bank of India share price target for 2026, based on analyst consensus, is approximately Rs. 880. The bear case target stands at Rs. 700 and the bull case at Rs. 1,000. These are analyst estimates — actual price performance depends on quarterly earnings, macro conditions, and sector-specific developments.

Is State Bank of India a good buy at the current price of Rs. 770?

At Rs. 770, State Bank of India trades at 9.5x and offers a dividend yield of ~1.8%. Whether it is a good buy depends on your risk appetite, investment horizon, and portfolio context. The analyst consensus of Buy (majority Buy across 28 analysts) suggests a broadly positive outlook, but individual investor suitability should be assessed with a SEBI-registered advisor.

What is the State Bank of India 52-week high and low?

The State Bank of India 52-week high is Rs. 912 and the 52-week low is Rs. 680 as of April 2026. The current price of Rs. 770 places the stock 16% below its 52-week high.

What are analysts saying about State Bank of India?

Motilal Oswal has a Buy rating with a target of Rs. 950. Goldman Sachs has a Buy rating with a target of Rs. 1,000. Kotak Institutional has a Add rating with a target of Rs. 880. Emkay Global has a Buy rating with a target of Rs. 840. The overall consensus is Buy (majority Buy across 28 analysts). These ratings are based on publicly available analyst reports and are for informational purposes only.

What factors could push State Bank of India stock higher in 2026?

The key factors supporting a higher State Bank of India share price in 2026 include: Gross NPA at 2.07% — the lowest in over a decade — demonstrates the asset quality clean-up is structurally complete and not cyclical; RBI rate cut cycle benefits SBI disproportionately as its large fixed-deposit base re-prices slower than its floating-rate loan book; YONO platform with 75 million users provides a low-cost digital customer acquisition engine that no private bank can match at scale. These are the primary drivers cited by analysts in their bull case scenarios.

What is the State Bank of India market capitalisation?

State Bank of India’s market capitalisation as of April 2026 is Rs. 6.87 Lakh Cr. This is based on the current share price of Rs. 770 and the total number of outstanding shares listed on the NSE and BSE.

How does State Bank of India dividend yield compare to peers?

State Bank of India offers a dividend yield of ~1.8% at the current price — this is a key consideration for income investors evaluating the stock. For live dividend data and yield comparisons, check the Univest Screener.

Where can I track the State Bank of India share price live?

You can track State Bank of India (SBIN) share price live on the Univest App, which provides real-time NSE/BSE prices, analyst ratings, fundamental screeners, and SEBI-registered research. Download the Univest iOS App or Univest Android App to get started.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. Analyst targets and financial data are sourced from publicly available information including NSE/BSE filings, Screener.in, Investing.com, and company investor relations pages. Verify all data before investing. Consult a SEBI-registered advisor before making investment decisions.