New Risk • 23h
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Argentinean stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risks Dividend is not well covered by earnings (154% payout ratio). Profit margins are more than 30% lower than last year (5.7% net profit margin). New Risk • Jun 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.7% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (154% payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (5.7% net profit margin). Reported Earnings • May 28
First quarter 2026 earnings released: AR$6.73 loss per share (vs AR$7.74 loss in 1Q 2025) First quarter 2026 results: AR$6.73 loss per share (improved from AR$7.74 loss in 1Q 2025). Revenue: AR$144.9b (up 86% from 1Q 2025). Net loss: AR$10.1b (loss narrowed 12% from 1Q 2025). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Banks industry in Argentina. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 131% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$364, the stock trades at a trailing P/E ratio of 21.7x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 1,490% over the past three years. Upcoming Dividend • Mar 20
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 27 March 2026. Payment date: 30 March 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 14%. Within top quartile of Argentinean dividend payers (8.4%). Higher than average of industry peers (7.4%). Announcement • Mar 03
Banco Hipotecario S.A., Annual General Meeting, Mar 30, 2026 Banco Hipotecario S.A., Annual General Meeting, Mar 30, 2026. Location: held remotely, Argentina Reported Earnings • Mar 02
Full year 2025 earnings released Full year 2025 results: Revenue: AR$472.3b (down 36% from FY 2024). Net income: AR$25.2b (down 66% from FY 2024). Profit margin: 5.3% (down from 10% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Banks industry in Argentina. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 151% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to AR$417, the stock trades at a trailing P/E ratio of 36.3x. Average forward P/E is 8x in the Banks industry in Argentina. Total returns to shareholders of 1,914% over the past three years. Upcoming Dividend • Feb 18
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 25 February 2026. Payment date: 26 February 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 11%. Within top quartile of Argentinean dividend payers (8.5%). Higher than average of industry peers (6.0%). Upcoming Dividend • Jan 21
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 28 January 2026. Payment date: 29 January 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 9.7%. Within top quartile of Argentinean dividend payers (8.5%). Higher than average of industry peers (6.2%). Upcoming Dividend • Dec 22
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 December 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 8.2%. Within top quartile of Argentinean dividend payers (6.6%). Higher than average of industry peers (5.8%). Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AR$552, the stock trades at a trailing P/E ratio of 28.3x. Average forward P/E is 8x in the Banks industry in Argentina. Total returns to shareholders of 4,675% over the past three years. Reported Earnings • Nov 30
Third quarter 2025 earnings released: AR$12.20 loss per share (vs AR$9.48 profit in 3Q 2024) Third quarter 2025 results: AR$12.20 loss per share (down from AR$9.48 profit in 3Q 2024). Revenue: AR$84.5b (down 36% from 3Q 2024). Net loss: AR$18.3b (down 231% from profit in 3Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Banks industry in Argentina. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 229% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Nov 19
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 26 November 2025. Payment date: 27 November 2025. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Argentinean dividend payers (7.0%). Lower than average of industry peers (6.8%). Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to AR$462, the stock trades at a trailing P/E ratio of 11.3x. Average forward P/E is 8x in the Banks industry in Argentina. Total returns to shareholders of 4,962% over the past three years. Upcoming Dividend • Oct 22
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 29 October 2025. Payment date: 30 October 2025. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 8.2%. Lower than top quartile of Argentinean dividend payers (9.9%). Lower than average of industry peers (10%). Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$246, the stock trades at a trailing P/E ratio of 6x. Average forward P/E is 8x in the Banks industry in Argentina. Total returns to shareholders of 2,531% over the past three years. Upcoming Dividend • Sep 19
Upcoming dividend of AR$4.68 per share Eligible shareholders must have bought the stock before 26 September 2025. Payment date: 29 September 2025. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 10.0%. Lower than top quartile of Argentinean dividend payers (10%). Lower than average of industry peers (13%). Price Target Changed • Sep 11
Price target decreased by 55% to AR$250 Down from AR$550, the current price target is provided by 1 analyst. New target price is 6.4% above last closing price of AR$235. Stock is down 45% over the past year. The company posted earnings per share of AR$54.47 last year. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to AR$234, the stock trades at a trailing P/E ratio of 5.7x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 2,058% over the past three years. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: AR$29.08 (vs AR$10.27 in 2Q 2024) Second quarter 2025 results: EPS: AR$29.08 (up from AR$10.27 in 2Q 2024). Revenue: AR$43.7b (down 75% from 2Q 2024). Net income: AR$43.6b (up 187% from 2Q 2024). Profit margin: 100% (up from 8.7% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Banks industry in Argentina. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 200% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$397, the stock trades at a trailing P/E ratio of 12.6x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 4,394% over the past three years. Upcoming Dividend • Jul 21
Upcoming dividend of AR$4.76 per share Eligible shareholders must have bought the stock before 25 July 2025. Payment date: 30 July 2025. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Argentinean dividend payers (8.0%). Lower than average of industry peers (8.7%). New Risk • Jul 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.4% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 10
First quarter 2025 earnings released: AR$7.21 loss per share (vs AR$11.65 profit in 1Q 2024) First quarter 2025 results: AR$7.21 loss per share (down from AR$11.65 profit in 1Q 2024). Revenue: AR$73.7b (down 68% from 1Q 2024). Net loss: AR$10.8b (down 163% from profit in 1Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Banks industry in Argentina. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 254% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • May 29
First quarter 2025 earnings released: AR$7.21 loss per share (vs AR$11.65 profit in 1Q 2024) First quarter 2025 results: AR$7.21 loss per share (down from AR$11.65 profit in 1Q 2024). Revenue: AR$73.6b (down 68% from 1Q 2024). Net loss: AR$10.8b (down 163% from profit in 1Q 2024). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Banks industry in Argentina. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 285% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$460, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 13x in the Banks industry in Argentina. Total returns to shareholders of 6,431% over the past three years. New Risk • Apr 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to AR$381, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 12x in the Banks industry in Argentina. Total returns to shareholders of 5,272% over the past three years. New Risk • Mar 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 10% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$550, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 16x in the Banks industry in Argentina. Total returns to shareholders of 6,709% over the past three years. New Risk • Dec 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Reported Earnings • Nov 29
Third quarter 2024 earnings released: EPS: AR$11.43 (vs AR$1.31 in 3Q 2023) Third quarter 2024 results: EPS: AR$11.43 (up from AR$1.31 in 3Q 2023). Revenue: AR$175.3b (up 223% from 3Q 2023). Net income: AR$17.5b (up AR$15.6b from 3Q 2023). Profit margin: 10.0% (up from 3.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has increased by 275% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: AR$9.37 (vs AR$4.74 in 2Q 2023) Second quarter 2024 results: EPS: AR$9.37 (up from AR$4.74 in 2Q 2023). Revenue: AR$167.3b (up 154% from 2Q 2023). Net income: AR$14.4b (up 106% from 2Q 2023). Profit margin: 8.6% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has increased by 229% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to AR$338, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 10x in the Banks industry in Argentina. Total returns to shareholders of 3,950% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$452, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 12x in the Banks industry in Argentina. Total returns to shareholders of 4,301% over the past three years. Reported Earnings • Jun 04
First quarter 2024 earnings released First quarter 2024 results: Revenue: AR$193.4b (up AR$163.5b from 1Q 2023). Net income: AR$14.5b (up 221% from 1Q 2023). Profit margin: 7.5% (down from 15% in 1Q 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$424, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 15x in the Banks industry in Argentina. Total returns to shareholders of 5,227% over the past three years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$373, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 11x in the Banks industry in Argentina. Total returns to shareholders of 4,738% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to AR$354, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 12x in the Banks industry in Argentina. Total returns to shareholders of 4,491% over the past three years. New Risk • Apr 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AR$182, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 9x in the Banks industry in Argentina. Total returns to shareholders of 2,038% over the past three years. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: AR$38.37 (vs AR$4.11 in FY 2022) Full year 2023 results: EPS: AR$38.37 (up from AR$4.11 in FY 2022). Revenue: AR$384.7b (up 345% from FY 2022). Net income: AR$56.6b (up AR$50.5b from FY 2022). Profit margin: 15% (up from 7.0% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 22.30% (up from 11.40% in FY 2022). Cost-to-income ratio: 37.0% (down from 45.6% in FY 2022). Non-performing loans: 2.81% (down from 5.11% in FY 2022). Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has increased by 187% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to AR$167, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 22x in the Banks industry in Argentina. Total returns to shareholders of 1,809% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to AR$205, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 22x in the Banks industry in Argentina. Total returns to shareholders of 2,203% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AR$243, the stock trades at a trailing P/E ratio of 35.6x. Average trailing P/E is 27x in the Banks industry in Argentina. Total returns to shareholders of 2,568% over the past three years. New Risk • Jan 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Argentinean stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AR$134, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 18x in the Banks industry in Argentina. Total returns to shareholders of 1,306% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to AR$90.20, the stock trades at a trailing P/E ratio of 13.2x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 878% over the past three years. New Risk • Dec 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.4% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.4% net profit margin). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$42.50, the stock trades at a trailing P/E ratio of 7.2x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 315% over the past three years. New Risk • Oct 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 164% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to AR$38.90, the stock trades at a trailing P/E ratio of 6.6x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 244% over the past three years. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: AR$2.72 (vs AR$0.93 in 2Q 2022) Second quarter 2023 results: EPS: AR$2.72 (up from AR$0.93 in 2Q 2022). Revenue: AR$37.8b (up 134% from 2Q 2022). Net income: AR$4.02b (up 194% from 2Q 2022). Profit margin: 11% (up from 8.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$41.00, the stock trades at a trailing P/E ratio of 8.3x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 250% over the past three years. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AR$36.95, the stock trades at a trailing P/E ratio of 7.4x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 331% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to AR$30.65, the stock trades at a trailing P/E ratio of 6.2x. Average forward P/E is 6x in the Banks industry in Argentina. Total returns to shareholders of 198% over the past three years. Reported Earnings • Jun 03
First quarter 2023 earnings released: EPS: AR$2.48 (vs AR$0.93 in 1Q 2022) First quarter 2023 results: EPS: AR$2.48 (up from AR$0.93 in 1Q 2022). Revenue: AR$27.8b (up 92% from 1Q 2022). Net income: AR$3.66b (up 167% from 1Q 2022). Profit margin: 13% (up from 9.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 01
Full year 2022 earnings released Full year 2022 results: Revenue: AR$86.5b (up 218% from FY 2021). Net income: AR$6.05b (up AR$10.3b from FY 2021). Profit margin: 7.0% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 23% share price gain to AR$23.20, the stock trades at a trailing P/E ratio of 4.5x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 25% share price gain to AR$16.35, the stock trades at a trailing P/E ratio of 3.1x. Average forward P/E is 7x in the Banks industry in Argentina. Total returns to shareholders of 18% over the past three years. Reported Earnings • Nov 26
Third quarter 2022 earnings released: EPS: AR$0.43 (vs AR$0.76 loss in 3Q 2021) Third quarter 2022 results: EPS: AR$0.43 (up from AR$0.76 loss in 3Q 2021). Revenue: AR$17.9b (up 243% from 3Q 2021). Net income: AR$627.4m (up AR$1.75b from 3Q 2021). Profit margin: 3.5% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to AR$17.30 Up from AR$14.80, the current price target is provided by 1 analyst. New target price is 56% above last closing price of AR$11.10. Stock is up 19% over the past year. The company posted a net loss per share of AR$2.86 last year. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: AR$0.93 (vs AR$0.94 loss in 2Q 2021) Second quarter 2022 results: EPS: AR$0.93 (up from AR$0.94 loss in 2Q 2021). Revenue: AR$12.2b (up 104% from 2Q 2021). Net income: AR$1.37b (up AR$2.75b from 2Q 2021). Profit margin: 11% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to AR$8.80 Down from AR$14.80, the current price target is provided by 1 analyst. New target price is 15% above last closing price of AR$7.66. Stock is down 6.7% over the past year. The company posted a net loss per share of AR$2.86 last year. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improved over the past week After last week's 16% share price gain to AR$9.81, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 9x in the Banks industry in Argentina. Total loss to shareholders of 42% over the past three years. Is New 90 Day High Low • Feb 23
New 90-day low: AR$8.71 The company is down 15% from its price of AR$10.25 on 24 November 2020. The Argentinean market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 2.0% over the same period. Is New 90 Day High Low • Jan 09
New 90-day low: AR$8.90 The company is down 5.0% from its price of AR$9.41 on 09 October 2020. The Argentinean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 8.0% over the same period. Reported Earnings • Dec 01
Third quarter 2020 earnings released: EPS AR$0.11 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: AR$4.82b (down 13% from 3Q 2019). Net income: AR$163.9m (up AR$565.8m from 3Q 2019). Profit margin: 3.4% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.