Stock market analyst Madhumita Ghosh of Unicon Investment Solutions has maintained buy rating on UCO Bank stock to achieve a long term target of Rs 90.

According to analyst, the stock of the bank will hit the said target in a period of 9-12 months.

Today (May 12), the shares of the bank opened at Rs 1550 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1800 and a low of Rs 951 on BSE.

Current EPS & P/E ratio stood at 49.48 and 31.49 respectively.

UCO Bank has posted four-fold increase in its net profit for the three month period ended March 31, 2010.

The bank's profit during the quarter was Rs 3,798 million as against Rs 1,025.60 million in March 2009.

The bank's total income stood at Rs 26,900, up 6.72% over the last year period.

For the financial ended March 2010, UCO Bank registered a 81% surged in net profit, which stood at Rs 1012 crore.

The bank's total income for the fiscal 2009-10 came up to Rs 10,492.25 crore for 2009-10 from Rs 9,141.28 crore in 2008-09.

UCO Bank also declared a dividend of Rs 1.50 per share for the fiscal 2009-10.

SK Goel, UCO Bank CMD, said, "In the fourth quarter the credit growth was 12%, which is low. Loans had been sanctioned but there was a partial offtake. It has started picking up now."

The bank is eyeing to record a deposit growth of 20% and an advance growth of 18% in 2010.