BCP nears €1 a share and becomes PSI’s third-largest stock
BCP closed at €0.9616, its highest level in about 11 years, lifting its market value above €14 billion and making it the third-largest company on Lisbon’s PSI index.
BCP closed within 4 cents of €1 a share on Thursday, extending its rally in Lisbon and becoming the third-largest listed company on Portugal’s PSI index. The move matters for investors because it pushed the bank’s market value above €14 billion and took the stock to its highest level in about 11 years.
Shares in the lender led by Miguel Maya rose 0.56% to €0.9616, the highest since July 27, 2015, according to ECO’s market report. That left BCP behind only EDP and EDP Renováveis in market capitalisation, ahead of Galp and Jerónimo Martins.
BCP is up more than 7% since the start of the year, although that still trails the Lisbon market’s gain of more than 10% in 2025. On Thursday, Morgan Stanley raised its target price for the bank to €0.89 from €0.87. ECO said six analysts still value BCP below €1, while 15 see the shares reaching or exceeding that level over the next 12 months.
The stock’s strong run comes as BCP faces potential changes in its shareholder structure. ECO reported on Thursday that Belgian insurer Ageas is considering taking a 5% stake, while China’s Fosun is exploring options for its 20.45% holding after selling 10% two years ago. Earlier this month, shareholders approved distributing 90% of profits through dividends and share buybacks, worth more than €900 million.
Originally published at Eco.pt