Macro Bank (NYSE:BMA) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Macro Bank (NYSE:BMA) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on BMA. UBS Group began coverage on shares of Macro Bank in a report on Wednesday, November 19th. They set a “buy” rating and a $130.00 price target on the stock. Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. HSBC downgraded Macro Bank from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a report on Monday, December 15th. JPMorgan Chase & Co. increased their target price on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Itau BBA Securities raised Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.75.

Macro Bank Trading Down 1.5%

Shares of BMA stock opened at $93.95 on Monday. Macro Bank has a fifty-two week low of $38.30 and a fifty-two week high of $106.15. The stock’s fifty day moving average price is $92.62 and its two-hundred day moving average price is $74.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $6.00 billion, a PE ratio of 42.51, a P/E/G ratio of 1.42 and a beta of 1.46.

Macro Bank (NYSE:BMA) last posted its quarterly earnings results on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.06). The business had revenue of $625.90 million for the quarter, compared to analyst estimates of $590.57 million. Macro Bank had a return on equity of 8.15% and a net margin of 6.11%. Equities analysts predict that Macro Bank will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th will be given a dividend of $0.3822 per share. The ex-dividend date of this dividend is Thursday, February 19th. This represents a c) dividend on an annualized basis and a yield of 4.9%. This is a boost from Macro Bank’s previous monthly dividend of $0.36. Macro Bank’s payout ratio is currently 193.21%.

Hedge Funds Weigh In On Macro Bank

Several hedge funds and other institutional investors have recently bought and sold shares of BMA. SBI Securities Co. Ltd. grew its holdings in Macro Bank by 43.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 703 shares of the bank’s stock worth $63,000 after acquiring an additional 214 shares during the period. Advisory Services Network LLC bought a new stake in Macro Bank in the third quarter worth approximately $46,000. Van ECK Associates Corp bought a new position in shares of Macro Bank during the 3rd quarter worth approximately $72,000. Cibc World Market Inc. acquired a new stake in shares of Macro Bank during the 4th quarter worth approximately $251,000. Finally, Advisors Preferred LLC bought a new stake in shares of Macro Bank in the 3rd quarter valued at $117,000.

Macro Bank Company Profile

Macro Bank (NYSE: BMA) is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.