Jefferies cuts target to EUR 15.30 for Banco BPM stock

Published on 10/19/2026 at 10:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Jefferies sees weaker third-quarter earnings. Banco BPM stock costs EUR 13.53 on October 19, 2026 versus EUR 15.30 target.

Analyst view and bank capital

Jefferies cut its Banco BPM target from EUR 16.60 to EUR 15.30 on October 19, 2026.
The bank completed a EUR 400 million Additional Tier 1 bond issue on October 14, 2026.
Banco BPM stock traded at EUR 13.53 at 10:35 a.m. CEST at Lang & Schwarz on October 19, 2026.

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Banco BPM (ISIN IT0005218380) was trading at EUR 13.53 at Lang & Schwarz on October 19, 2026, at 10:35 a.m. CEST. Jefferies cut its price target from EUR 16.60 to EUR 15.30 and kept a Hold rating, according to Teleborsa on October 19, 2026.

Target cut meets earnings caution

Jefferies expects Banco BPM's third-quarter net income to come in below consensus and forecasts a CET1 ratio of 14.20 percent. The research also reduces annual earnings-per-share estimates by 3 percent for 2026 through 2028, while its 2028 price-to-earnings estimate is 9.60.

The target reduction gives the latest market view a more cautious tone. The bank's next reported period will show whether trading income and capital strength develop in line with that assessment.

Capital action adds EUR 400 million

Banco BPM completed a EUR 400 million perpetual Additional Tier 1 bond issue for institutional investors on October 14, 2026, while offering to buy back a perpetual bond with EUR 300 million outstanding, according to MarketScreener. The new instrument carries a 6.75 percent coupon until October 21, 2032.

What do the three dates show?

Banco BPM disclosed the completion of a EUR 7 million employee-incentive share-buyback program on September 15, 2026, according to its Banco BPM investor-relations page. It then announced the EUR 400 million capital issue on October 14, 2026, before Jefferies lowered its target to EUR 15.30 on October 19, 2026. Together, the dates place capital management and earnings expectations at the center of the current stock debate.

Next reporting date

Banco BPM's investor-relations calendar schedules additional periodic information for the third quarter on November 5, 2026, according to Banco BPM.

Valuation and stock quote

Banco BPM had a market capitalization of EUR 20.3 billion on October 19, 2026. Its 52-week range was EUR 10.94 to EUR 17.45, leaving the current Lang & Schwarz quote below the high while the upcoming results provide the next scheduled operating checkpoint.

Banco BPM was trading at EUR 13.53 at Lang & Schwarz on October 19, 2026, at 10:35 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Banco BPM stock.