BBNI:IDXPT Bank Negara Indonesia (Persero) Tbk Class B Analysis

BBNI is trading well below its 20‑day (3,828), 50‑day (3,882) and 200‑day (4,206) moving averages, with a bearish MACD histogram and a neutral RSI around 45, indicating short‑term price weakness. Fundamentally, the bank looks cheap – its trailing P/E of 6.9 is far below the industry average of 16.8 and its P/B of 0.87 is under 1, while analysts project a 26% upside to a median target of 4,800. Revenue is growing at roughly 8% YoY and profit margins remain robust (≈40%), but operating cash flow is deeply negative and the dividend payout ratio exceeds 130%, raising sustainability concerns. Recent earnings‑call material and market sentiment (extreme greed index) suggest optimism, yet technical indicators and decreasing volume point to near‑term volatility.