Sydney, June 13, 2026, 02:13 AEST
- Macquarie Group Ltd. finished Friday at A$242.44, gaining A$6.60, or 2.8%. That puts shares close to the A$249.49 52-week high.
- The S&P/ASX 200 gained close to 2% to 8,804 as financial stocks led after a sudden jump in risk appetite.
- The next dates for investors in Macquarie are the A$4.20 FY26 final dividend set for July 2 and the group’s FY2027 half-year earnings on November 6.
Macquarie Group Ltd. shares jumped 2.8% to A$242.44 in Friday trading, coming back with the wider Australian market. The stock traded just below its A$249.49 12-month high. The move wasn’t tied to any new earnings update from the investment bank and asset manager. Recent notices were mostly about distributions and capital markets, including a June 10 filing on US$1.25 billion in subordinated notes. The company has not released a new trading statement for ordinary shareholders. Subordinated notes rank below senior debt on company wind-up.
Macquarie’s shares moved up, important for a company that reacts fast to shifts in confidence, credit and volatility. Stocks go up when investors see earnings, dividends or multiples getting better. They drop if something shakes that view. On Friday, the S&P/ASX 200 bounced to 8,804 as financials delivered gains, wiping out some of the dip from the day before, when Middle East worries and costlier oil hit the market.
Macquarie’s FY26 result, released in May, still sets the stage for the bank. The group posted a 30% jump in net profit after tax to A$4.85 billion, with EPS at A$12.77 and ROE at 14.0%. EPS represents profit per ordinary share. ROE shows profit compared to shareholder equity. CEO Shemara Wikramanayake said Macquarie is “well-positioned to deliver superior performance,” citing its diverse income base and strong balance sheet. Macquarie
Macquarie’s earnings got a lift from all four divisions in FY26, which is fueling the bull case. Commodities and Global Markets net profit jumped 49%. Macquarie Asset Management posted a 27% gain, Banking and Financial Services was up 17%, and Macquarie Capital increased 43%. The group also ended with a 12.8% CET1 capital ratio. Liquidity coverage came in at 173%, net stable funding at 116%. Both numbers point to solid short-term liquidity and funding.
Macquarie’s recent profit run could be tough to repeat, bears say. Back in May, Reuters pointed out the bank’s commodity desk got a boost from oil and gas price swings. There was also the OnStream sale helping results. Breakingviews later asked if the big returns in the second half and a price near 2.5 times forward book could last. Macquarie listed risks like the economy, interest rates, inflation, volatility, geopolitics, deal timing, FX moves and rule or tax shifts that might hit near-term earnings.
Macquarie is trading at A$242.44, so the shares aren’t obviously cheap. The stock sits at about 19x trailing earnings against an FY26 EPS of A$12.77. Analyst targets are clustered around A$250.14, putting just a little implied upside from here. Targets range from a high of A$271 to a low of A$205, so there’s not much consensus on how much upside is left in the name.
The stock trades at what looks like fair value, with higher execution risk and no obvious discount. Next up is the A$4.20 final dividend, due out July 2. The bigger test comes with the FY2027 half-year result on November 6. Investors will focus on whether commodities trading, asset-management performance fees, private-credit business, and banking margins keep earnings steady after a strong FY26.
