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Banco Macro S.A.NYSE:BMA Stock Report

Market Cap US$5.6b
Share Price
US$88.00
US$123.61
28.8% undervalued intrinsic discount
1Y12.2%
7D-1.1%
1D
Portfolio Value
​
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Banco Macro S.A.

NYSE:BMA Stock Report

Market Cap: US$5.6b

Banco Macro (BMA) Stock Overview

Provides various banking products and services to retail and corporate customers in Argentina. More details

BMA fundamental analysis
Snowflake Score
Valuation0/6
Future Growth4/6
Past Performance2/6
Financial Health5/6
Dividends2/6

Rewards

Earnings are forecast to grow 31.88% per year

Risk Analysis

Dividend of 3.68% is not well covered by earnings nor forecast to be in 3 years

Large one-off items impacting financial results


BMA Community Fair Values

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See what 17 others think this stock is worth. Follow their fair value or set your own to get alerts.

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Banco Macro S.A. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Banco Macro
Historical stock prices
Current Share PriceAR$88.00
52 Week HighAR$106.15
52 Week LowAR$38.30
Beta0.50
1 Month Change19.76%
3 Month Change17.77%
1 Year Change12.22%
3 Year Change291.63%
5 Year Change396.61%
Change since IPO276.87%

Recent News & Updates

Seeking Alpha • Nov 28

Banco Macro: Why 2026 Matters More Than Any Quarter In 2025

Summary Banco Macro S.A. remains structurally well-positioned despite weak Q3 '25 results, with excess capital, low leverage, and a dominant retail/SME franchise. BMA's profitability is currently suppressed by Argentina's monetary transition, but core pillars—solid funding, liquidity, and manageable NPLs—remain intact. The investment thesis hinges on Argentina's ongoing disinflation and expected economic stabilization in 2026, which should revive NIM, ROE, and credit growth for BMA. Valuation upside exists as the market prices in disinflation but not full normalization; BMA's capital strength offers optionality for M&A, buybacks, and sector consolidation. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Nov 28

Banco Macro: Why 2026 Matters More Than Any Quarter In 2025

Summary Banco Macro S.A. remains structurally well-positioned despite weak Q3 '25 results, with excess capital, low leverage, and a dominant retail/SME franchise. BMA's profitability is currently suppressed by Argentina's monetary transition, but core pillars—solid funding, liquidity, and manageable NPLs—remain intact. The investment thesis hinges on Argentina's ongoing disinflation and expected economic stabilization in 2026, which should revive NIM, ROE, and credit growth for BMA. Valuation upside exists as the market prices in disinflation but not full normalization; BMA's capital strength offers optionality for M&A, buybacks, and sector consolidation. Read the full article on Seeking Alpha
Seeking Alpha • Jan 28

Banco Macro: Strong Fundamentals But Wait For A Pullback

Summary Banco Macro leads peers in net interest margin. BMA maintains a low nonperforming loans to total loans ratio, indicating quality loans. The company has the ability to drive a strong return on equity. Banco Macro, based on the current valuation, is projected to deliver a five-year annual return of 9.1%. Read the full article on Seeking Alpha
Seeking Alpha • Nov 16

Banco Macro: Improved Economic Conditions Support Further Upside

Summary Banco Macro is well-positioned to benefit from Argentina's improving economic conditions and reforms under Javier Milei, showing significant upside potential for long-term investors. The bank's recent performance has been strong, with shares up 46%, supported by a favorable macroeconomic environment and expected loan growth. Despite recent earnings volatility due to mark-to-market adjustments, Banco Macro's capital position remains robust, enabling sustainable high dividend yields. Trading at 1.8x book value, Banco Macro has potential for re-rating if Argentina's economic conditions continue to improve, presenting an attractive investment opportunity. Read the full article on Seeking Alpha
Seeking Alpha • Jun 24

Banco Macro: Strong Fundamentals Are Overshadowed By Macro Risks

Summary Banco Macro is a leading private bank in Argentina with a strong presence in the interior provinces. The bank's financial performance is solid with high profitability, efficiency, and asset quality. Despite good fundamentals, political and economic risks in Argentina may impact Banco Macro's performance and valuation in the near future. Read the full article on Seeking Alpha
Seeking Alpha • Sep 12

Banco Macro: Far Too Risky Right Now

Summary Argentina's economic crisis, characterized by hyperinflation and severe droughts, is causing the agriculturally dependent economy to spiral out of control. Investing in Banco Macro S.A., one of the largest financial institutions in Argentina, is considered too risky due to the devaluation of the currency and the uncertain market conditions. The high inflation rate and the threat of a mega-drought are further exacerbating the challenges faced by Argentina, making it a risky investment market. Read the full article on Seeking Alpha
Seeking Alpha • Sep 02

Banco Macro: Lagging Its Peers

Summary Banco Macro is one of the primary traditional banks in Argentina, with the largest branch network in the country. The bank has a robust balance sheet and an excellent risk profile. The company is overvalued based on Excess Return valuation, but compared to other major banks in LATAM, it is cheap. The acquisition of Banco Itau Argentina will increase the company`s branch network and ATM count. In the long term, it will grow the bank`s customer base and its revenues. I give a hold rating due to BMA lagging against its competitors in digital banking services. Read the full article on Seeking Alpha
Seeking Alpha • Feb 24

Banco Macro reports Q4 results

Banco Macro press release (NYSE:BMA): Q4  net income totaled Ps.16.6 billion in 4Q22. In 4Q22 Operating Income totaled Ps.78.2 billion, 79% or Ps.34.6 billion higher than in the same period of last year. In 4Q22, Banco Macro's total deposits decreased 2% or Ps.23.5 billion QoQ and increased 13% or Ps.148.4 billion YoY, totaling Ps.1.3 trillion and representing 82% of the Bank's total liabilities. Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.410.3 billion, 39.9% regulatory capital ratio – Basel III and 36.6% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 95% of its total deposits in 4Q22.
Seeking Alpha • Dec 20

Banco Macro declares $0.0786 dividend

Banco Macro (NYSE:BMA) declares $0.0786/share monthly dividend, in line with previous. Forward yield 6.55% Payable Jan. 4; for shareholders of record Dec. 27; ex-div Dec. 23. See BMA Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Aug 25

Banco Macro reports Q2 results

Banco Macro press release (NYSE:BMA): Q2 net income totaled Ps.4.1 billion in 2Q22, 41% lower than the Ps.7 billion posted in 1Q22 and 45% lower than the result registered in 2Q21. Net Operating Income totaled Ps.81.3 billion, 8% or Ps.6 billion higher than in 1Q22 and 26% or Ps.16.6 billion higher than the same period of last year.
Seeking Alpha • Mar 18

Banco Macro Is 89% Cheaper Than 2017: Stock Is An Option With No Time Decay

Banco Macro 4Q 2021 shows - again - a conservatively managed and healthy operation in a special Country. Banco Macro reported great numbers: Net Income up 30% Q-o-Q and 130% Y-o-Y, ROE at 18%, NPL ratio at 1.3% and coverage ratio improved to 209.61%. Strong solvency ratio, with a 36.1% regulatory capital ratio – Basel III and 30.9% Tier 1 Ratio is probably possibly the envy of several international banks. BMA has a history of growth through crisis and has a HUGE retained dividend. Stock trading 89% below end of 2017 price looks cheap. BMA stock has a resilient and long term profitable business with an unrealized potential for the financial system to become much larger. The potentiality (option) grows when there are prospects of economic stability.
Seeking Alpha • Jan 05

Banco Macro Trades Below Historic Earnings

Like other Argentinian banks, Macro's stock price is depressed because of fears of a financial crisis. However, those fears are relatively unfounded. Macro has been consistently profitable and today trades below 4 times earnings. The bank is financially healthy with little debt.

Shareholder Returns

BMAUS BanksUS Market
7D-1.1%3.3%-3.3%
1Y12.2%21.5%22.3%

Return vs Industry: BMA underperformed the US Banks industry which returned 20.6% over the past year.

Return vs Market: BMA underperformed the US Market which returned 22.5% over the past year.

Price Volatility

Is BMA's price volatile compared to industry and market?
BMA volatility
BMA Average Weekly Movement7.9%
Banks Industry Average Movement3.2%
Market Average Movement7.2%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.1%

Stable Share Price: BMA has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: BMA's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1966n/aJuan Parmawww.macro.com.ar

Banco Macro S.A. provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers. The company also provides personal loans, document discounts, residential mortgages, overdrafts, pledged loans, and credit card loans to retail customers.

Banco Macro S.A. Fundamentals Summary

How do Banco Macro's earnings and revenue compare to its market cap?
BMA fundamental statistics
Market capUS$5.64b
Earnings (TTM)US$200.76m
Revenue (TTM)US$2.82b
29.5x
P/E Ratio
1.6x
P/B Ratio

Is BMA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BMA income statement (TTM)
RevenueAR$4.06t
Cost of RevenueAR$60.32b
Gross ProfitAR$4.00t
Other ExpensesAR$3.71t
EarningsAR$289.49b

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)452.75
Gross Margin98.52%
Net Profit Margin7.12%
Debt/Equity Ratio28.6%

How did BMA perform over the long term?

See historical performance and comparison

Dividends

3.7%
Current Dividend Yield
137%
Payout Ratio

Does BMA pay a reliable dividends?

See BMA dividend history and benchmarks
When do you need to buy BMA by to receive an upcoming dividend?
Banco Macro dividend dates
Ex Dividend DateJun 02 2026
Dividend Pay DateJun 10 2026
Days until Ex dividend9 days
Days until Dividend pay date1 day

Does BMA pay a reliable dividends?

See BMA dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/09 18:37
End of Day Share Price 2026/06/09 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Banco Macro S.A. is covered by 13 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ernesto Gabilondo MárquezBofA Global Research
Rafael Berger FradeBradesco S.A. Corretora de Títulos e Valores Mobiliários
Alonso AramburúBTG Pactual