Analysis of the influence of external and internal factors on stock prices (Case study on the Infobank15 index)

In the era of globalization, the capital market plays an important role in the economy, especially in Indonesia, which has experienced an increase in the number of investors by 17.19% in 2023. This study aims to analyze the factors that affect the stock price of the banking sector in Indonesia during the period 2018 to 2023. The method used is secondary data analysis from the annual financial statements obtained from the Indonesia Stock Exchange, with a purposive sampling technique to select 13 banking companies as a sample. The analysis was carried out using the ANOVA test and the panel data test to evaluate the influence of macroeconomic variables and fundamental factors on stock prices. The results show that interest rate variables, NIM, CAR, NPL, ROE, BOPO, LDR, and PBV have a significant influence on stock prices, while GDP, EPS, and PER have no effect. The study found that interest rates have a positive effect, while NPLs and BOPO have a negative impact on stock prices. The implications of this study emphasize the importance of bank management to pay attention to fundamental and external factors, especially interest rates and financial ratios, to increase investor attractiveness and stock price stability in the capital market. This research provides valuable insights for investors and policymakers in making investment decisions in the banking sector.