Macro Bank (NYSE:BMA) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Macro Bank (NYSE:BMA) to a strong-buy rating in a report published on Monday,Zacks.com reports.

BMA has been the subject of a number of other research reports. Zacks Research lowered Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Hsbc Global Res raised Macro Bank to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Macro Bank in a research note on Wednesday, October 8th. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and dropped their target price for the company from $104.00 to $80.00 in a report on Wednesday, October 1st. Finally, Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Macro Bank presently has an average rating of “Moderate Buy” and a consensus target price of $74.38.

Macro Bank Price Performance

BMA stock opened at $86.32 on Monday. Macro Bank has a one year low of $38.30 and a one year high of $118.42. The firm has a 50-day moving average of $57.91 and a two-hundred day moving average of $69.03. The firm has a market capitalization of $5.52 billion, a PE ratio of 21.00, a P/E/G ratio of 1.59 and a beta of 1.56. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23.

Macro Bank (NYSE:BMA) last released its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.04). The firm had revenue of $834.78 million during the quarter, compared to analysts’ expectations of $752.51 million. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%. On average, analysts forecast that Macro Bank will post 7.84 earnings per share for the current year.

Macro Bank Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be issued a $0.3486 dividend. This is an increase from Macro Bank’s previous monthly dividend of $0.31. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, November 17th. Macro Bank’s dividend payout ratio is currently 89.05%.

Institutional Trading of Macro Bank

Several large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its stake in shares of Macro Bank by 19.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock worth $59,000 after purchasing an additional 124 shares during the last quarter. Advisors Preferred LLC acquired a new position in Macro Bank during the third quarter worth $117,000. Burns Matteson Capital Management LLC raised its holdings in Macro Bank by 30.4% during the first quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank’s stock valued at $202,000 after buying an additional 624 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Macro Bank by 46.8% in the third quarter. Quantbot Technologies LP now owns 4,856 shares of the bank’s stock worth $205,000 after buying an additional 1,548 shares during the last quarter. Finally, Deuterium Capital Management LLC bought a new stake in shares of Macro Bank during the 1st quarter worth about $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.