Nvidia AI chips targeted in China customs crackdown- FT
BUENOS AIRES - Argentine lender Banco Macro S.A. (NYSE:BMA; ByMA:BMA), with a current market capitalization of $3.03 billion, announced Wednesday a share repurchase program of up to 30 million Class B common shares, representing approximately 10% of the bank’s capital stock.
The buyback program authorizes the bank to spend up to 225 billion Argentine pesos ($225 billion) with a maximum price of 7,500 pesos per share. With the stock currently trading at $43.88 and according to InvestingPro analysis, the shares appear overvalued at current levels. The repurchase will take place over 60 calendar days following the publication of the announcement in the Buenos Aires Stock Exchange Bulletin.
In its statement, Banco Macro cited the current domestic and international macroeconomic context and capital market fluctuations that have "materially affected the price of domestic shares, including the quotation of the shares of the Bank" as reasons for the repurchase initiative. InvestingPro data shows the stock has experienced a significant 53.73% decline year-to-date, though the bank maintains a GOOD overall financial health score.
The bank noted it will limit daily repurchases to no more than 25% of the average daily transaction volume across all markets where it operates, both local and international, based on the preceding 90 business days of trading. Current trading data shows an average daily volume of 580,000 shares over the past three months.
The decision was made by Banco Macro’s Board of Directors, which also considered the financial strength and liquidity position of the bank when approving the program.
The announcement comes as part of the bank’s strategy to manage its capital structure amid ongoing market volatility. According to the press release statement, the share repurchase complies with Article 64 of Law No. 26,831 and the rules of Argentina’s National Securities Commission (CNV).
In other recent news, Banco Macro reported significant financial growth in its Q2 2025 earnings, with net income increasing by 209% quarter-on-quarter. Despite this robust performance, the bank’s earnings per share (EPS) of $1.71 fell short of analysts’ expectations, which were set at $1.92, resulting in a 10.94% negative surprise. Additionally, HSBC upgraded Banco Macro’s stock rating from Hold to Buy, citing the bank’s strong capital position as a key factor. HSBC adjusted its price target for the bank to $80.00, down from a previous target of $104.00. These developments reflect Banco Macro’s strategic positioning within the Argentine banking sector. The upgrade by HSBC suggests confidence in the bank’s ability to leverage market opportunities. Investors are closely watching these recent updates as they assess Banco Macro’s future potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.