Financial Performance and Stock Market Analysis of Selected Philippine Banking Companies
DOI:
https://doi.org/10.65166/4pn4pa10Keywords:
Philippine banking companies, financial performance, stock-market analysis, valuation, dividend yield, technical indicatorsAbstract
This study examines the financial performance and stock-market characteristics of fourteen selected Philippine banking companies, focusing on profitability, valuation, financial position, dividend distributions, and technical market behavior. A descriptive-comparative approach was employed using secondary financial information and market-data displays. The analysis covered historical earnings and balance-sheet indicators, price-to-earnings and price-to-book ratios, dividend measures, price trends, trading volume, moving averages, momentum, and volatility. Constant-earnings price scenarios illustrated changes in valuation multiples under alternative share prices. The evidence revealed differences across banks in profitability, valuation, distributions, and trading conditions. Several banks exhibited positive earnings alongside weak market momentum, demonstrating that accounting performance and market behavior did not move uniformly within the observed periods. Valuation profiles included low positive earnings multiples, a negative multiple associated with losses, and a substantially higher multiple for Philippine Trust Company. Technical readings likewise varied: Asia United Bank displayed positive momentum, several other banks showed bearish signals, and Philippine National Bank's relative strength index indicated an overbought condition. Interpretation was constrained by inconsistent observation dates and uneven indicator documentation. The study supports evaluating financial and market indicators jointly while distinguishing descriptive valuation scenarios from forecasts. Its findings apply to the selected companies and reported observation periods and do not establish future investment returns.
Downloads
References
Akhtaruzzaman, M., Chiah, M., Docherty, P., & Zhong, A. (2021). Betting against bank profitability. Journal of Economic Behavior & Organization. https://doi.org/10.1016/j.jebo.2021.10.012
Atento, R. G. (2025). Valuation metrics, market efficiency, and investor sentiment: A descriptive analysis of Philippine Stock Exchange–listed firms. International Journal of Health & Business Analytics, 1(1). https://doi.org/10.65166/6kbeat87
Atento, R. G., & Atento, A. G. (2025a). Global equity valuation dispersion: Evidence from P/E benchmarks, percentile positioning, and trend margins. International Journal of Health & Business Analytics, 1(2). https://doi.org/10.65166/2pd5k207
Atento, R. G., & Atento, A. G. (2025b). Which fundamentals differentiate Philippine stock winners from laggards? A rank-based multinomial analysis of 2025 price appreciation. International Journal of Health & Business Analytics, 1(2). https://doi.org/10.65166/n7t3ew73
Atento, R. G. O., Atento, A. G., Espelita, C. A. M. H., Del Mundo, F., Nona, R. G., Mangubat, M. M., Dela Costa, V. G., Manzana, P., & Espina, A. (2026). Value and size premiums in the Philippine equity market: Evidence from an extended dataset with volatility analysis. Asian Financial Economics and Policy, 1(1). https://doi.org/10.65166/nbsg0j88
Atento, R. G., & Mangubat, M. (2025). Integrated fundamental–technical evaluation of Jollibee Foods Corporation: Financial performance, market behavior, and investment outlook. International Journal of Health & Business Analytics, 1(2). https://doi.org/10.65166/azkk2x82
Atento, R. G., & Manzana, P. A. S. (2026). Valuation, profitability, and risk assessment of PLDT Inc. (PSE: TEL): A fundamental and technical analysis as of May 2026. Journal of Enterprise Strategy and Management Innovation, 1(2). https://doi.org/10.65166/8bp7h116
Daniswara, D. A., Widjanarko, H., & Hikmah, K. (2022). The accuracy test of technical analysis of moving average, Bollinger Bands, and relative strength index on stock prices of companies listed in index LQ45. Indikator: Jurnal Ilmiah Manajemen dan Bisnis. https://doi.org/10.22441/indikator.v6i2.14806
Dela Costa, V., & Atento, R. G. (2025). Financial performance and market viability of Globe Telecom, Inc.: An integrated fundamental–technical analysis. International Journal of Health & Business Analytics, 1(1). https://doi.org/10.65166/v5x9d097
Del Mundo, F., & Atento, R. G. (2025). Fundamental and technical indicator analysis of San Miguel Corporation: Financial performance, market behavior, and investment evaluation. International Journal of Health & Business Analytics, 1(2). https://doi.org/10.65166/6vdtp816
De Ocampo, G. P., Espina, A. D., Mangubat, M. M., & Mazaredo, K. I. G. (n.d.). Financial performance and stock market analysis of selected Philippine banking companies [Unpublished course paper]. FAITH Colleges.
Dongol, P., & Tandukar, S. (2025). Effect of dividend policy on stock price performance: Evidence from Nabil and Himalayan Banks. MVIC Journal of Management and Information Technology. https://doi.org/10.3126/mvicjmit.v1i2.85883
Espina, A., & Atento, R. G. (2026). Valuation, profitability, and risk assessment of Manila Electric Company (PSE: MER): A fundamental and technical analysis as of May 2026. Journal of Enterprise Strategy and Management Innovation, 1(2). https://doi.org/10.65166/qvvhmy33
Geca, M., Atento, A. G., Espelita, C. A. M. H., & Atento, R. G. O. (2026). Closing the backdoor: Fintech license strategies, regulatory reclassification, and the architecture of digital bank supervision in the Philippines. Asian Financial Economics and Policy, 1(1). https://doi.org/10.65166/d0m0k596
Ginting, E. B., & Sussanto, H. (2024). The impact of return on asset (ROA), capital adequacy ratio (CAR), price-earnings ratio (PER), and price-to-book value (PBV) on stock prices of banking companies listed on the LQ45 index during 2019–2023. Journal of Economics, Finance And Management Studies. https://doi.org/10.47191/jefms/v7-i10-12
Gunawan, I., & Soma, A. M. (2025). Why do bank risks affect stock returns? Examining the mediating role of profitability in Indonesia's tier-1 banks. Journal of Islamic Economics Lariba. https://doi.org/10.20885/jielariba.vol11.iss2.art7
Jakubik, P., & Moinescu, B.-G. (2023). What is the optimal capital ratio implying a stable European banking system? International Finance. https://doi.org/10.1111/infi.12438
Jallow, M. A., Abiodun, N. L., Weke, P., & Aidara, C. A. T. (2022). Efficiency of financial ratios in predicting stock price trends of listed banks at Nairobi Securities Exchange. European Journal of Statistics. https://doi.org/10.28924/ada/stat.2.9
Ji, G., Yu, J., Hu, K., Xie, J., & Ji, X. (2022). An adaptive feature selection schema using improved technical indicators for predicting stock price movements. Expert Systems with Applications, 200, Article 116941. https://doi.org/10.1016/j.eswa.2022.116941
Jihad, A. G., & Ismael, A. M. (2023). Predicting the movement of stock prices using technical analysis indicators: Applied research in a sample of the shares of Iraqi private commercial banks. Journal of Techniques. https://doi.org/10.51173/jt.v5i2.1144
Kalimashi, A., Ahmeti, S., & Aliu, M. (2022). The relationship between liquidity risk management and commercial bank performance: Evidence from the Western Balkans. International Journal of Applied Economics, Finance and Accounting. https://doi.org/10.33094/ijaefa.v14i2.689
Lantin-Magana, L. M., & Atento, R. G. O. (2026). Digital reach, consumption, and equity market deepening: Evidence from ASEAN-5. Asian Financial Economics and Policy, 1(1). https://doi.org/10.65166/nxnfqv94
Lantin-Magana, L. M., Espelita, C. A. M. H., Habana, C. A., Atento, R. G. O., & Atento, A. G. (2026). Predictors of investment decision among selected individuals in key cities of Laguna: An extended theory of planned behavior approach. Journal of Enterprise Strategy and Management Innovation, 1(1). https://doi.org/10.65166/a60b0c75
Lee, C. M. C., Wang, Y., & Zhong, Q. (2023). ELPR: A new measure of capital adequacy for commercial banks. The Accounting Review. https://doi.org/10.2308/tar-2020-0661
Lyimo, G. D. (2024). Dividend policy and share price valuation of listed commercial banks in Tanzania. The Accountancy and Business Review. https://doi.org/10.59645/abr.v16i2.233
Mardia, A., Akbar, T., Abidin, Z., & Akbar, M. (2025). Examining the relationship between profitability indicators and stock market valuation in Indonesian banks. West Science Accounting and Finance. https://doi.org/10.58812/wsaf.v3i03.2210
Navas, J., Dhanavanthan, P., & Lazăr, D. (2021). Is risk based capital ratio a true measure of the soundness of banks? Evidence from India. International Journal of Financial Research, 12. https://doi.org/10.5430/ijfr.v12n3p92
Nekesa, M., Ouma, M. K., & Njuguna, P. G. (2021). Effect of dividend decisions on market performance of share prices for commercial banks listed at Nairobi Securities Exchange. International Journal of Current Aspects in Finance, Banking and Accounting. https://doi.org/10.35942/ijcfa.v3i2.207
Nguyen, S. (2021). Capital adequacy ratio and a bank's financial stability in Vietnam. Banks and Bank Systems. https://doi.org/10.21511/bbs.16(4).2021.06
Nona, R. G., & Atento, R. G. (2025). Integrating fundamentals and technicals: Investment attractiveness of Puregold Price Club, Inc. International Journal of Health & Business Analytics, 1(1). https://doi.org/10.65166/e0y0mb43
Polat, A., & Altundal, V. (2025). Investigating the effect of banks’ price/earnings ratio and market value/book value ratio on stock prices: Panel data analysis in Türkiye. Üçüncü Sektör Sosyal Ekonomi Dergisi. https://doi.org/10.63556/tisej.2025.1653
Pratama, A., & Henida, D. E. (2025). Comparative analysis of stock valuation models: The case of the Indonesian banking sector. International Journal of Applied Economics, Finance and Accounting. https://doi.org/10.33094/ijaefa.v21i2.2186
Raza, H., & Akhtar, Z. (2024). Predicting stock prices in the Pakistan market using machine learning and technical indicators. Modern Finance. https://doi.org/10.61351/mf.v2i2.167
Reyes, K. B., Lantin-Magana, L. M., Atento, A. G., Espelita, C. A. M. H., & Atento, R. G. O. (2026). Sectoral valuation profiles and earnings quality in the Philippine equity market: A descriptive cross-sectional study of PSE-listed firms as of end-Q1 2026. Asian Financial Economics and Policy, 1(1). https://doi.org/10.65166/sm24ag86
Rosario, S., & Mavuri, S. (2026). From risk to returns: An analysis of asset quality, financial ratios, and market valuation in Indian banks. Risks. https://doi.org/10.3390/risks14010016
Safitri, N. S., Indrawati, N., & Champaca, M. (2025). Profitability, leverage, and dividend policy: Determinants of stock return levels of Indonesian banks. Jurnal Ilmiah Akuntansi Kesatuan. https://doi.org/10.37641/jiakes.v13i4.3839
Shubita, M. F. (2023). Earnings and market ratio: Additional evidence from Jordanian banks. Banks and Bank Systems. https://doi.org/10.21511/bbs.18(3).2023.02
Tran, P., Pham, A. T. Q., Phan, T. H., & Nguyen, C. V. (2024). Applying machine learning algorithms to predict the stock price trend in the stock market – The case of Vietnam. Humanities and Social Sciences Communications, 11. https://doi.org/10.1057/s41599-024-02807-x
Wijayanti, A. R., Wibowo, D. H., & Iqbal, M. (2025). Profitability, valuation, and stock prices in Indonesian banking stocks: A panel data analysis of IDX30 firms. Dinasti International Journal of Digital Business Management. https://doi.org/10.38035/dijdbm.v6i6.6669
Yesaya, Z., & Bingireki, E. (2023). The effect of cash dividend pay-out policy on stock price performance: A case study of commercial banks listed in Dar es Salaam Stock Exchange. The Accountancy and Business Review. https://doi.org/10.59645/abr.v15i3.148
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Grazelle P. De Ocampo, Amor D. Espina, Margareth M. Mangubat, Kim Ivan Mazaredo (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors retain copyright of their articles but grant the International Journal of Health & Business Analytics (IJHBA) the right of first publication.
