Macro Bank Inc. (NYSE:BMA) Receives $62.17 Consensus Target Price from Analysts

Shares of Macro Bank Inc. (NYSE:BMA) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.1667.

Several research firms have recently commented on BMA. Citigroup reissued a “neutral” rating on shares of Macro Bank in a research note on Thursday. Itau BBA Securities began coverage on Macro Bank in a report on Tuesday, May 20th. They issued a “market perform” rating and a $85.00 price objective for the company. Finally, Zacks Research cut shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th.

Macro Bank Trading Down 5.3%

Shares of Macro Bank stock opened at $43.72 on Thursday. The business has a fifty day simple moving average of $64.50 and a 200-day simple moving average of $75.76. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 0.68 and a beta of 1.68. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Macro Bank has a fifty-two week low of $42.70 and a fifty-two week high of $118.42.

Macro Bank (NYSE:BMA) last announced its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). The company had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. Macro Bank had a return on equity of 10.94% and a net margin of 8.32%. On average, equities analysts forecast that Macro Bank will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 19th will be issued a dividend of $0.3665 per share. The ex-dividend date is Friday, September 19th. This is a positive change from Macro Bank’s previous monthly dividend of $0.37. This represents a c) annualized dividend and a dividend yield of 10.1%. Macro Bank’s dividend payout ratio (DPR) is 38.48%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BMA. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the 1st quarter valued at approximately $31,000. SBI Securities Co. Ltd. lifted its stake in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock worth $59,000 after acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Macro Bank by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock worth $78,000 after buying an additional 245 shares during the last quarter. Wallace Advisory Group LLC purchased a new stake in shares of Macro Bank during the 1st quarter worth approximately $157,000. Finally, Burns Matteson Capital Management LLC raised its position in Macro Bank by 30.4% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank’s stock valued at $202,000 after purchasing an additional 624 shares during the last quarter.

Macro Bank Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.