Macro Bank (NYSE:BMA) Upgraded at HSBC

HSBC upgraded shares of Macro Bank (NYSE:BMA) from a hold rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $80.00 price objective on the bank’s stock, down from their prior price objective of $104.00.

A number of other research analysts also recently issued reports on the company. Citigroup downgraded Macro Bank from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Zacks Research downgraded Macro Bank from a “hold” rating to a “strong sell” rating in a research note 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.63.

Macro Bank Stock Performance

Shares of Macro Bank stock opened at $43.04 on Wednesday. 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 has a 12 month low of $38.30 and a 12 month high of $118.42. The stock’s fifty day moving average price is $57.54 and its 200-day moving average price is $71.80. The firm has a market cap of $2.75 billion, a P/E ratio of 3.77, a P/E/G ratio of 0.78 and a beta of 1.54.

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

Macro Bank Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 19th were paid a dividend of $0.3665 per share. This represents a c) dividend on an annualized basis and a dividend 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 Trading of Macro Bank

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Macro Bank by 93.5% in the fourth quarter. Bank of America Corp DE now owns 6,631 shares of the bank’s stock valued at $642,000 after buying an additional 3,205 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Macro Bank by 9,810.7% during the 1st quarter. GAMMA Investing LLC now owns 77,700 shares of the bank’s stock worth $5,867,000 after buying an additional 76,916 shares during the period. ABS Direct Equity Fund LLC purchased a new position in shares of Macro Bank during the 1st quarter valued at approximately $310,000. Insigneo Advisory Services LLC grew its stake in Macro Bank by 64.0% in the 1st quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank’s stock valued at $315,000 after acquiring an additional 1,629 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Macro Bank during the first quarter valued at $557,000.

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.