Reward 500 Tiger-coinsJanuary 6 was a meaningful day worth celebrating for many Singapore investors.
$OCBC Bank(O39.SI)$ broke through the $20 mark for the first time in history, opening at $20.04
$DBS(D05.SI)$ also set a new record, touching $57.48 intraday
Among Singapore’s three local banks, having two reach all-time highs at the same time is a rare sight over the past decade. This rally is no longer just about high dividend yields, it reflects a combination of earnings resilience, interest rate cycle expectations, and a return of local capital flows.
1. DBS: The “core asset” with one-way upward trend
The only notable pullback for DBS came in April 2025, following the announcement of the “Liberation Day” tariffs. Yet that decline did not derail the broader trend — instead, it became a re-entry opportunity for medium- to long-term investors.
Analyst views highlight a clear split:
JP Morgan is the most bullish, with a target price of $70 (Overweight)
Macquarie, on the other hand, sees valuation risk and assigns a $46 target (Underperform)
Is DBS still in a phase of valuation expansion, or has it entered a period of high-level consolidation?
2. OCBC: Is $20 a milestone or a psychological barrier?
Compared with DBS, OCBC’s move to record highs came later, but with greater momentum.
Consistently setting new highs since November 2025; Supported by strong non-interest income growth and lower provisions
Even though 9M25 net profit declined 4% YoY, the market has chosen to look ahead
Now that the share price is above $20, the issue of affordability per lot is resurfacing. Whether this leads to renewed stock split expectations or a liquidity premium has quietly become a topic of market discussion.
Goldman Sachs: Target price $21.20 (Buy)
3. Is It UOB’s turn?
With DBS and OCBC repeatedly hitting new highs, attention is naturally shifting to whether UOB could be next.
$UOB(U11.SI)$ is not far from its all-time high of $39.20, but the problem is still here.
Has the market fully digested the overly conservative provisioning? Or is it still waiting for a clearer catalyst?
Questions for SG Investors:
1️⃣ With DBS and OCBC at record highs, are you adding on strength or locking in profits?
2️⃣ Will UOB be the next bank to catch up, or continue to lag?
3️⃣ If 2026 does mark the start of a rate-cut cycle, can bank stocks keep rising?
Leave your comments or winning trades to celebrate this moment and win tiger coins~
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Comments
I’m still holding tight on both DBS and OCBC. DBS remains my core banking position, and the April 2025 pullback only strengthened my conviction in its long-term trend. OCBC breaking above $20 feels more like a psychological unlock than a peak, with the market clearly looking past near-term noise and pricing in forward earnings momentum.
UOB could be next, but it likely needs a clearer catalyst to re-rate. Even if 2026 brings gradual rate cuts, I don’t see that as bearish for the local banks — as long as cuts are orderly, strong franchises can still compound steadily. For now, I’m letting my winners run rather than rushing to take profits.
@TigerStars @Tiger_comments @Tiger_SG @TigerClub
With DBS and OCBC at record highs, are you adding on strength or locking in profits?
2️⃣ Will UOB be the next bank to catch up, or continue to lag?
3️⃣ If 2026 does mark the start of a rate-cut cycle, can bank stocks keep rising?
Leave your comments or winning trades to celebrate this moment and win tiger coins~
At a P/E ratio of 10.26 compared to DBS's 14.49 and OCBC's 12.30, UOB is certainly undervalued and a great buy for bargain hunters.
For investors who believe in UOB's long term ASEAN growth strategy and are comfortable with the perceived risks, UOB's lower P/E ratio offers a larger potential "margin of safety" compared to its more richly valued competitors.
For new investors, a great way to capture this phenomenonal rise in DBS and OCBC, is to invest in $STI ETF(ES3.SI)$ which represents all 3 banks at a low cost.
Congratulations to all who have invested in DBS & OCBC.🎉
@Tiger_SG @Tiger_comments @TigerStars
Treating DBS as a "core asset" with a one-way upward trend, portfolio rebalancing depends on whether the $20 mark for OCBC is a milestone or psychological barrier as investors weigh capital preservation against continued momentum
While UOB (U11) has recently lagged its peers, its valuation discount and emphasis on wealth management provide a defensive catch-up opportunity for value-oriented investors
If 2026 marks the start of a rate-cut cycle, bank stocks can still rise; resilience will depend on shifting focus from margin expansion to capital returns and buybacks, with diversified fee-based income supporting growth despite margin compression
Strategic positioning for the year ahead requires balancing the growth potential of SG banks with broader economic risks and evolving market conditions。。。
$華僑銀行(O39.SI)$突破了$20史上首次標誌，開幕於$20.04
$DBS(D05.SI)$也刷新了紀錄，感人$57.48盤中
for me I will keep them but if price is really good, perhaps will sell some to take profits [Sly] [Sly] [lovely]