DBS Earnings Preview: Can DBS Break $60 Next Week?

Tiger_SG
02-06 16:36
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The "Alpha" of Singapore banking, $DBS(D05.SI)$, is set to release its full-year 2025 and Q4 results on Monday, Feb 9. With the stock currently hovering near the $60 psychological barrier after a massive 2025 rally, all eyes are on whether this report will provide the momentum for a breakout.

Market consensus:

  • Annual Net Profit Projection: S$11.275 Billion (Expected slight dip of 1.2%).

  • Q4 Net Profit Projection: S$2.52 Billion (Expected year-on-year decline of 3.8%).

  • Total Annual Income: S$23.21 Billion (Expected 4.1% year-on-year growth).

🕒 2025 Performance Recap: The Banking Trio's Great Divide

Before looking ahead, let’s review how the three local giants diverged in 2025—a key factor driving current market sentiment:

  1. DBS surged 28%. Fueled by high dividend visibility and a boom in its wealth management segment, it was the undisputed market leader.

  2. OCBC rose 19%. Investors were optimistic about its wealth management prospects and potential for further capital returns.

  3. UOB fell 4%. The laggard of the group, weighed down by earnings disappointments and concerns over asset quality (particularly US and Greater China real estate exposure).

🔍 The Bull Case: Why are analysts targeting $70?

J.P. Morgan has a price target of $70 for DBS by end-2026.

The bull case rests on a shift in valuation logic:

  1. NIM Bottoming Out: While US rate cuts weighed on margins in late 2025, DBS Research notes that Singdollar short-term rates are bottoming. As funding costs for deposits retreat in 2026, we are nearing a turning point for Net Interest Margins (NIM).

  2. Wealth Management as the "Growth Engine": Analysts expect Q4 wealth management fees to surge 44% year-on-year. This proves DBS is successfully pivoting from a traditional "lending bank" to a high-fee "wealth giant."

  3. Dividend Certainty: DBS has already guided for a S$0.06 increase in quarterly dividends (from S$0.60 to S$0.66). This "High Dividend + Consistent Buyback" combo makes it a haven for long-term capital.

Can DBS break $60 next week?

With the stock closing at S$59.66, we are just cents away from history.

  • A. Breakout to $60+! Wealth management growth will shock the market; the rally continues.

  • B. Buy the Rumor, Sell the Fact. Seasonal weakness and "priced-in" news lead to a pullback toward $58.

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Comment below

E.g.

I think DBS can break new highs and close above $60 next week. or A

DBS Earnings Preview: Is $60 the Ceiling or a New Launchpad?
The "Alpha" of Singapore banking, DBS, is set to release its full-year 2025 and Q4 results on Monday, Feb 9. With the stock currently hovering near the $60 psychological barrier after a massive 2025 rally, all eyes are on whether this report will provide the momentum for a breakout. With the stock closing at S$59.66, we are just cents away from history. A. Breakout to $60+! Wealth management growth will shock the market; the rally continues. B. Buy the Rumor, Sell the Fact. Seasonal weakness and "priced-in" news lead to a pullback toward $58.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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Comments

  • icycrystal
    02-06 18:27
    icycrystal
    @Universe宇宙 @Shyon @Aqa @SPACE ROCKET @LMSunshine @rL @GoodLife99 @koolgal
    Can DBS break $60 next week?

    Each participant who guesses the correct closing price will share 1,000 Tiger Coins (evenly split).


    Each participant gets 5 Tiger Coins just for joining.


  • icycrystal
    02-06 18:26
    icycrystal

    While the momentum is strong, some analysts caution that headroom for further valuation expansion may be limited, as DBS currently trades at a rich price-to-book ratio of roughly 2.2x to 2.3x. The $60 mark represents a major psychological level that may see some selling pressure unless the earnings report exceeds expectations.

    perhaps not unless earnings is exceptionally good [Thinking] [Thinking] [Thinking] [Helpless] [Helpless] [Helpless]

    • koolgal: 
      Great insights 🥰🥰🥰
  • Shyon
    01:07
    Shyon
    DBS $DBS(D05.SI)$ is my stock in focus going into next week’s results, and I remain confidently bullish. With the share price just below the S$60 psychological level, I see the upcoming earnings as a catalyst rather than a hurdle. DBS has clearly established itself as the sector alpha, and the market is looking for confirmation—not perfection.

    My confidence comes from the improving earnings mix. Net interest margins appear close to a bottom, while wealth management continues to drive higher-quality, fee-based growth. This strengthens the case that DBS is evolving beyond a pure rate-cycle play into a more resilient earnings compounder.

    On top of that, dividend certainty provides strong downside support. Higher payouts and buybacks continue to attract long-term capital, and with sentiment still constructive, I believe DBS can break above S$60 next week. My vote: A.

    @Tiger_comments @TigerStars @TigerClub @Tiger_SG

  • TimothyX
    02-06 22:47
    TimothyX
    Market consensus:

    Annual Net Profit Projection: S$11.275 Billion (Expected slight dip of 1.2%).

    Q4 Net Profit Projection: S$2.52 Billion (Expected year-on-year decline of 3.8%).

    Total Annual Income: S$23.21 Billion (Expected 4.1% year-on-year growth).

  • koolgal
    02-06 19:21
    koolgal
    🌟🌟🌟DBS $DBS(D05.SI)$ is heading into its February 9 results with the stock hovering around the SGD 60 psychological barrier like it is deciding whether to make history or tease the market for one more week.

    I am rooting for DBS winning big . So my vote is A: Breakout to SGD 60.

    Why? Because wealth management has been the quiet engine humming beneath the surface.  If those numbers come in higher than expected, the market won't just nod.  It will rerate DBS on the spot.

    Now add this: JPMorgan has a target price of SGD 70 for DBS.  When a global institution plants a SGD 70 flag , it tells you that the rally isn't over. It is simply catching its breath before the next climb.

    DBS isn't just the heavyweight of Singapore banking. It is the blue chip lion of SGX, top of the leaderboard, the ironclad battleship of ASEAN banking & the dividend metronome that never misses a beat.

    That is why I am voting A, DBS will breakout to SGD 60 and more.

    @Tiger_SG @Tiger_comments @TigerClub

  • Cadi Poon
    02-06 22:51
    Cadi Poon
    Before looking ahead, let’s review how the three local giants diverged in 2025—a key factor driving current market sentiment:

    DBS surged 28%. Fueled by high dividend visibility and a boom in its wealth management segment, it was the undisputed market leader.

    OCBC rose 19%. Investors were optimistic about its wealth management prospects and potential for further capital returns.

    UOB fell 4%. The laggard of the group, weighed down by earnings disappointments and concerns over asset quality (particularly US and Greater China real estate exposure).

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