JP Morgan Rates Banco Macro (BMA) buy, $132 Price Target

JP Morgan reaffirms its buy rating on Banco Macro S.A. with a price target of $132, a 44.36% upside from the current price.

By EarningsIQ Research Desk · Published Jun 25, 2026, 11:01 AM EDT · Updated Jun 29, 2026, 11:01 AM EDT

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JP Morgan rated Banco Macro S.A. ($BMA) "buy" with a $132 price target on June 25, 2026.

Since the rating, $BMA is down 0.1% after 1 week, up 2.6% after 1 month and down 28.7% to date (from the $89.81 close on Jun 25, 2026).

BMA Banco Macro S.A.

$64.04 -25.04% year to date

Daily close · Oct 16, 2026

Key Points

JP Morgan analyst Yuri Fernandes reiterated a buy rating on Banco Macro S.A. (BMA) with a target price of $132 on June 25, 2026.
JP Morgan's $132 price target implies 44.36% upside from Banco Macro S.A.'s ($BMA) current $91.44 share price.
Banco Macro S.A. shares traded near $89.69 on Thursday, with a market cap of $6.22 billion and a P/E ratio of 24.14.
Peers like BlackRock increased their holdings in Banco Macro S.A., while PointState Capital reduced its stake.

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JP Morgan analyst Yuri Fernandes reaffirmed a buy rating on Banco Macro S.A. (NYSE:BMA) on June 25, 2026. The firm set a price target of $132 for the Argentine bank, indicating continued confidence in its potential.

Analyst rating track record

JP Morgan vs. the S&P 500

YTD return -3.56% hypothetical

All-time return +33.46% S&P 500 +35.85%

vs. S&P 500 -2.39% behind the index

Hypothetical returns from JP Morgan's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Banco Macro S.A.

Several institutional investors adjusted their positions in Banco Macro S.A. BlackRock, Inc. increased its stake by 167,951 shares, now holding 752,714 shares valued at about $58.2 million. On the other hand, PointState Capital LP reduced its holdings by 146,995 shares, ending with 710,493 shares worth approximately $54.97 million. Samlyn Capital, LLC also trimmed its position by 100,201 shares, holding 546,540 shares valued at $42.29 million. Meanwhile, Turim 21 Investimentos Ltda. opened a new position with 528,547 shares valued at $10.67 million.

Banco Macro S.A. Stock Up 21.8%

Shares of Banco Macro S.A. (NYSE:BMA) traded near $89.69 on Thursday. The company's market capitalization stands at approximately $6.22 billion, with a P/E ratio of 24.14 and a forward P/E of 9.44. The stock has seen a 52-week low of $38.30 and a high of $106.15, with a 50-day moving average of $81.07 and a 200-day moving average of $76.98.

12-month forecast

$BMA price target

Banco Macro S.A. daily closes and this analyst's $132 target. Not advice.

Recent Earnings

Banco Macro S.A. reported revenue of approximately $3.22 trillion, although it experienced a revenue decline of 99.6%. The company's net margin stands at 7.58%, with a return on equity (ROE) of 10.82%. The next earnings report is scheduled for August 26, 2026.

Dividend

The company pays an annual dividend rate of $5.32, yielding 5.23%. The dividend payout ratio is 79.11%, reflecting a commitment to returning value to shareholders.

Analysts Set New Price Targets

On June 25, 2026, JP Morgan maintained its buy rating on Banco Macro S.A. with a price target of $132. HSBC previously upgraded the stock to a buy rating with an $85 target on May 5, 2026. The consensus among analysts is a strong buy, with a mean target price of $113.90, based on nine analyst opinions.

About Banco Macro S.A.

Banco Macro S.A. is a regional bank based in Buenos Aires, Argentina, offering a range of banking services to both retail and corporate clients. Under the leadership of CEO Juan Martin Parma, the bank provides savings and checking accounts, loans, credit cards, and insurance products. It also offers corporate banking services such as deposits, lending, and cash management. Founded in 1966, Banco Macro has a workforce of approximately 8,490 employees.

Bottom Line

JP Morgan's reiteration of a buy rating for Banco Macro S.A. underscores its confidence in the bank's growth potential. Investors often track such analyst updates for insights into a company's prospects. It's important to remember that these analyst ratings reflect opinions at the time of the report and may not represent current conditions.