Banco BPM S.p.A. (IT:BAMI)
:BAMI
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Banco BPM S.p.A.
(BAMI)
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Rating:66Neutral
Price Target:
€14.50
▲(7.57% Upside)
Action:DowngradedDate:03/25/26
The score is driven primarily by improved profitability and strong recent margins, supported by attractive valuation (low P/E and high dividend yield). These positives are offset by weaker technical momentum (negative MACD and trading below key moving averages) and financial-quality risks from leverage and cash-flow volatility.
Positive Factors
Improved Profitability & Margins
Margins and net income improved materially, with sharp margin expansion in 2024 that persisted into 2025. Sustained higher margins increase earnings power and internal capital generation, supporting dividends, loan growth and buffers against credit volatility over the next several months.
Negative Factors
Elevated Leverage
Leverage around 1.7–2.0, with historically higher peaks, leaves the bank sensitive to credit stress and rate shocks. Elevated debt levels constrain capital flexibility, increase funding and regulatory risk, and amplify earnings volatility if loan impairments rise.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability & Margins
Margins and net income improved materially, with sharp margin expansion in 2024 that persisted into 2025. Sustained higher margins increase earnings power and internal capital generation, supporting dividends, loan growth and buffers against credit volatility over the next several months.
Read all positive factors
Banco BPM S.p.A. (BAMI) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€18.41B
Dividend Yield8.25%
Average Volume (3M)7.98M
Price to Earnings (P/E)5.7
Beta (1Y)1.23
Revenue Growth-10.25%
EPS Growth8.52%
CountryIT
Employees18,964
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.29
Shares Outstanding1,515,182,100
10 Day Avg. Volume7,426,116
30 Day Avg. Volume7,982,693
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)1.18
Price to Sales (P/S)1.98
P/FCF Ratio3.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€13.75Price Target Upside2.00% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)1.24
Revenue Forecast (FY)€6.15B
Banco BPM S.p.A. Business Overview & Revenue Model
Company Description
Banco BPM S.p.A., together with its subsidiaries, provides banking and financial products and services to individual, business, and corporate customers in Italy. The company operates through Retail, Corporate, Institutional, Private, Investment Ba...
How the Company Makes Money
Banco BPM primarily makes money through traditional banking intermediation and fee-based services. A core earnings driver is net interest income: the bank collects interest on loans (e.g., mortgages, consumer credit, and lending to small and mid-s...
Banco BPM S.p.A. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
62
Positive
Cash Flow
54
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.27B | 10.34B | 8.84B | 5.29B | 4.78B |
| Gross Profit | 6.64B | 6.83B | 5.65B | 4.70B | 4.37B |
| EBITDA | 2.70B | 2.89B | 2.06B | 1.33B | 934.02M |
| Net Income | 2.08B | 1.92B | 1.26B | 685.05M | 569.07M |
Balance Sheet | |||||
| Total Assets | 205.90B | 198.21B | 202.10B | 189.69B | 200.49B |
| Cash, Cash Equivalents and Short-Term Investments | 5.61B | 13.81B | 19.87B | 15.02B | 39.78B |
| Total Debt | 31.04B | 29.39B | 23.95B | 16.77B | 16.12B |
| Total Liabilities | 190.31B | 183.61B | 188.06B | 176.92B | 187.39B |
| Stockholders Equity | 15.51B | 14.60B | 14.04B | 13.02B | 13.09B |
Cash Flow | |||||
| Free Cash Flow | 4.79B | 5.06B | 5.70B | -16.00B | 19.48B |
| Operating Cash Flow | 4.88B | 5.17B | 5.89B | -15.68B | 19.68B |
| Investing Cash Flow | -15.78B | -2.50B | -142.84M | -250.44M | -180.49M |
| Financing Cash Flow | 4.38B | -9.04B | -379.61M | -96.34M | 241.85M |
Banco BPM S.p.A. Technical Analysis
Positive
13.48
Price Trends
12.18
Positive
12.39
Positive
11.92
Positive
Market Momentum
0.30
Negative
71.03
Negative
83.15
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:BAMI, the sentiment is Positive. The current price of 13.48 is above the 20-day moving average (MA) of 12.21, above the 50-day MA of 12.18, and above the 200-day MA of 11.92, indicating a bullish trend. The MACD of 0.30 indicates Negative momentum. The RSI at 71.03 is Negative, neither overbought nor oversold. The STOCH value of 83.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:BAMI.
Banco BPM S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €98.30B | 10.67 | 14.41% | 6.08% | -8.94% | 11.50% | |
74 Outperform | €24.95B | 12.53 | 13.48% | 6.09% | 12.48% | 14.40% | |
69 Neutral | €12.81B | 10.31 | 40.02% | 3.35% | 0.32% | -0.89% | |
68 Neutral | €27.32B | 2.42 | 19.13% | 9.69% | 10.29% | -0.75% | |
66 Neutral | €18.41B | 5.75 | 18.92% | 8.25% | -10.25% | 8.52% | |
65 Neutral | €96.52B | 14.53 | 16.32% | 4.15% | 0.31% | 16.61% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IT:BAMI
Banco BPM S.p.A.
12.37
3.68
42.37%
IT:UCG
UniCredit SpA
64.39
14.36
28.71%
IT:BMPS
Banca Monte dei Paschi di Siena SPA
9.03
2.21
32.49%
IT:BPE
BPER Banca S.p.A.
12.20
5.56
83.65%
IT:FBK
FinecoBank SpA
21.24
4.36
25.86%
IT:ISP
Intesa Sanpaolo SpA
5.67
1.23
27.75%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.