MQG.AX Stock Today: February 2 Term Deposit Hike Before RBA Call

Macquarie Bank lifted select term deposit rates ahead of the next RBA cash rate call, putting funding costs and margins in the spotlight. Shares of MQG.AX last traded at A$212.18, up 0.02%, after touching A$215.00 intraday. Investors are also watching progress on the Macquarie AirFinance sale, which could reshape capital and earnings mix. Today we outline what the deposit moves mean for spreads, how the Macquarie Group share price looks on momentum, and what to monitor into May’s results.

Share price, levels and momentum

Macquarie Bank’s parent saw the Macquarie Group share price hold A$212.18, with a narrow 0.02% gain. The session ranged between A$211.63 and A$215.00, versus a 52‑week band of A$160.00 to A$242.90. Price sits near the 200‑day average at A$212.78 and above the 50‑day at A$203.04. YTD performance is +4.15%, while the 1‑year change is −11.97%.

Short‑term momentum is constructive for Macquarie Bank. RSI is 57.25 and MACD remains positive. Price trades above upper Bollinger and Keltner bands, hinting at overbought conditions. CCI at 120.79 and Stochastic at 83.66 back that message, while ADX at 17.37 shows no strong trend. ATR of 3.32 points to moderate daily movement near current levels.

Term deposit hikes: funding cost and margin trade‑offs

Macquarie Bank has raised select term deposit rates ahead of the RBA cash rate decision, joining early market repricing. This points to tighter competition for deposits and a push to lock stable funding. The move was flagged by industry coverage today source. For customers, higher term deposit rates are a win. For shareholders, the key is how deposit growth offsets higher interest expense.

Higher term deposit rates can trim net interest margins in BFS if asset yields do not reprice as fast. Macquarie Bank can soften the hit with mix shifts toward at‑call deposits and reduced wholesale funding. Scale in transaction accounts and cross‑sell may help. We will watch deposit beta, pass‑through on loans, and guided margin outlook at the next update.

Macquarie AirFinance sale: capital and earnings mix

If Macquarie Bank’s group proceeds with the Macquarie AirFinance sale, capital could be recycled from asset‑intensive activities into higher‑ROE areas. That could lift CET1, lower earnings volatility, and change the group’s earnings mix. Deal timing, price, and any retained exposure will shape the valuation impact. A cleaner balance sheet profile may earn a better multiple.

We are monitoring buyer interest, potential valuation ranges, and any capital return versus reinvestment signal. Management commentary around balance sheet flexibility will be key. Prior coverage highlights why this process matters for near‑term price action source. Follow‑through on execution could offset margin pressure from Macquarie Bank’s deposit pricing shifts.

Valuation, dividends and risks

Macquarie Bank’s group trades on 19.3x TTM earnings (EPS A$10.98) and 2.25x book, with ROE near 10.6%. Dividend yield is about 3.16% on a A$6.70 TTM payout and a 60.6% payout ratio. Our baseline model flags a 12‑month value near A$229.07, with the next earnings due 6 May 2026. Keep an eye on guidance.

Funding competition is rising as Macquarie Bank lifts term deposit rates, pressuring margins. Balance‑sheet metrics warrant attention: debt‑to‑equity stands around 4.94 and interest coverage about 0.29x, while operating cash flow per share is negative. RBA cash rate direction and credit quality trends are the main macro swing factors for spreads and valuation.

Final Thoughts

Macquarie Bank’s pre‑RBA term deposit moves underline the trade‑off between funding stability and margins. On price, MQG.AX sits near its 200‑day average with improving momentum, but overbought signals suggest near‑term chop. For traders, A$215 is first resistance, while the 50‑day near A$203 is initial support; a break above A$215 opens room toward A$242.90. For longer‑term investors, the watch‑list is simple: deposit growth versus margin, any read‑through from the RBA cash rate path, and progress on the Macquarie AirFinance sale. A clean, capital‑light tilt could support multiples and dividends if execution lands well. As always, align positions to risk tolerance and update views after management guidance.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.