Macro Bank (NYSE:BMA) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Macro Bank (NYSE:BMA) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and decreased their target price for the company from $104.00 to $80.00 in a research note on Wednesday. Citigroup downgraded Macro Bank from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Finally, Zacks Research lowered Macro Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.63.

Macro Bank Stock Up 2.7%

BMA stock opened at $43.04 on Wednesday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 3.77, a PEG ratio of 0.78 and a beta of 1.54. Macro Bank has a 1-year low of $38.30 and a 1-year high of $118.42. The firm has a fifty day moving average price of $57.54 and a two-hundred day moving average price of $71.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.13 and a quick ratio of 1.13.

Macro Bank (NYSE:BMA) last posted its quarterly 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). Macro Bank had a return on equity of 10.99% and a net margin of 8.32%.The business had revenue of $834.78 million during the quarter, compared to the consensus estimate of $752.51 million. Research analysts predict that Macro Bank will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 19th were paid a dividend of $0.3665 per share. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend was Friday, September 19th. This is a positive change from Macro Bank’s previous monthly dividend of $0.37. Macro Bank’s dividend payout ratio is 38.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in Macro Bank during the first quarter worth approximately $31,000. SBI Securities Co. Ltd. raised its stake in shares of Macro Bank by 19.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock worth $59,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Macro Bank by 31.3% in 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 in the last quarter. Burns Matteson Capital Management LLC raised its position in Macro Bank by 30.4% in the first quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank’s stock worth $202,000 after acquiring an additional 624 shares in the last quarter. Finally, Deuterium Capital Management LLC acquired a new stake in Macro Bank during the first quarter valued at approximately $218,000.

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.