Macro Bank (NYSE:BMA) Shares Gap Down – Here’s What Happened

Macro Bank Inc. (NYSE:BMA)’s share price gapped down prior to trading on Friday . The stock had previously closed at $95.44, but opened at $90.02. Macro Bank shares last traded at $90.68, with a volume of 13,582 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMA. Itau BBA Securities upgraded Macro Bank from a “market perform” rating to an “outperform” rating in a report on Monday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of Macro Bank from $79.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Citigroup upgraded Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. UBS Group initiated coverage on shares of Macro Bank in a report on Wednesday, November 19th. They set a “buy” rating and a $130.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of Macro Bank to a “strong-buy” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.75.

Macro Bank Trading Up 4.9%

The stock has a market cap of $5.94 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.46. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $92.06 and its 200 day simple moving average is $73.70.

Macro Bank (NYSE:BMA) last released its earnings results on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.06). Macro Bank had a net margin of 6.11% and a return on equity of 8.15%. The firm had revenue of $625.90 million during the quarter, compared to analyst estimates of $590.57 million. As a group, analysts expect that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, January 29th. Shareholders of record on Thursday, January 22nd were paid a $0.3557 dividend. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Thursday, January 22nd. Macro Bank’s dividend payout ratio is presently 192.76%.

Institutional Investors Weigh In On Macro Bank

Several large investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in shares of Macro Bank during the 3rd quarter worth about $46,000. SBI Securities Co. Ltd. raised its stake in Macro Bank by 43.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 703 shares of the bank’s stock valued at $63,000 after purchasing an additional 214 shares in the last quarter. Van ECK Associates Corp acquired a new position in Macro Bank during the third quarter valued at approximately $72,000. Advisors Preferred LLC bought a new position in Macro Bank in the third quarter valued at about $117,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Macro Bank during the third quarter worth $151,000.

About Macro Bank

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.