Stock market analyst Hemang Jani of Sharekhan said that the investors can buy Federal Bank Ltd stock with a long term target of Rs 564.

According to Mr. Jani, it is better to buy stock at the current level.

Today, the stock of the bank opened at Rs 455 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 501 and a low of Rs 233.35 on BSE.

Current EPS & P/E ratio stood at 29.21 and 15.72 respectively.

Earlier, Federal Bank has given nod to a dividend payment of 50% to its stockholders.

While lecturing at the 79th AGM, bank's Chairman of the Board Mr. P. C. Cyriac stated that the banking institution in 2010 has already launched 38 divisions and 27 ATMs.

The bank is likely to open another 80 divisions hinging upon the clearance received from the central banking institution (RBI).

During the previous year (2009-10), Federal Bank launched 60 new divisions and 115 new ATM centres, which takes the overall number of divisions to 672 and 732, respectively, as on March 31.

As part of the financial enclosure, Federal Bank is widening finance to SHGs and has spread banking consultants, business correspondents and business facilitators at select centres for heightening its reach.