Macro Bank (NYSE:BMA) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Macro Bank Inc. (NYSE:BMA)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $84.74 and traded as high as $91.82. Macro Bank shares last traded at $90.6550, with a volume of 210,980 shares.

Analysts Set New Price Targets

Several research firms have recently commented on BMA. Weiss Ratings raised shares of Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. raised their target price on shares of Macro Bank from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen upgraded Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. HSBC raised Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 5th. Finally, Zacks Research raised Macro Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Macro Bank currently has a consensus rating of “Buy” and an average target price of $111.25.

Macro Bank Price Performance

The firm has a market capitalization of $5.79 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. The business has a fifty day moving average of $87.98 and a 200-day moving average of $84.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.08.

Macro Bank (NYSE:BMA) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.31. The company had revenue of $412.19 million during the quarter, compared to analyst estimates of $837.75 million. Macro Bank had a return on equity of 8.42% and a net margin of 5.81%. On average, sell-side analysts forecast that Macro Bank Inc. will post 5.2 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.5296 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date was Tuesday, June 2nd. Macro Bank’s payout ratio is 128.84%.

Institutional Investors Weigh In On Macro Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PointState Capital LP raised its position in Macro Bank by 266.9% in the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank’s stock worth $77,311,000 after acquiring an additional 623,755 shares in the last quarter. Millennium Management LLC grew its stake in shares of Macro Bank by 100.7% in the 3rd quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock worth $24,325,000 after purchasing an additional 288,614 shares during the last quarter. Fundamenta Capital S.A. bought a new stake in shares of Macro Bank in the 4th quarter worth approximately $17,130,000. Verition Fund Management LLC raised its holdings in shares of Macro Bank by 1,060.6% in the 4th quarter. Verition Fund Management LLC now owns 138,760 shares of the bank’s stock worth $12,511,000 after purchasing an additional 126,804 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Macro Bank by 4,089.3% during the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock valued at $8,439,000 after purchasing an additional 117,322 shares during the last quarter.

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.