Meanwhile, the BSE Sensex was down 69.10 points, or 0.42% to 16,272.60.

On BSE, 3,668 shares were traded in the counter as against an average daily volume of 72,730 shares in the past one quarter.

The stock hit a high of Rs 354 and a low of Rs 341.25 so far during the day. The stock had hit a record high of Rs 501 on 2 November 2010 and a 52-week low of Rs 326 on 25 February 2011.

The mid-cap stock had underperformed the market over the past one month till 22 August 2011, declining 22.52% compared with the Sensex's 12.72% fall. The scrip had also underperformed the market in past one quarter, falling 18.06% as against 10.83% decline in the Sensex.

The Kochi-based private sector bank has an equity capital of Rs 171.03 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 2.40% based on the closing price of Rs 354.50 on Monday, 22 August 2011.

Federal Bank's net profit rose 10.8% to Rs 146.16 crore on 28.3% rise in operating income to Rs 1361.61 crore in Q1 June 2011 over Q1 June 2010.