Macro Bank Inc. (NYSE:BMA) Receives $66.63 Consensus PT from Analysts

Macro Bank Inc. (NYSE:BMA) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $66.6250.

BMA has been the subject of a number of research reports. Citigroup downgraded Macro Bank from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Macro Bank in a report on Wednesday, October 8th. Zacks Research downgraded Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. HSBC raised Macro Bank from a “hold” rating to a “buy” rating and dropped their target price for the stock from $104.00 to $80.00 in a report on Wednesday, October 1st. Finally, Hsbc Global Res raised Macro Bank to a “strong-buy” rating in a research note on Wednesday, October 1st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BMA. Sagil Capital LLP acquired a new position in Macro Bank in the second quarter valued at about $10,094,000. Marshall Wace LLP grew its position in Macro Bank by 4,089.3% in the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock valued at $8,439,000 after acquiring an additional 117,322 shares during the last quarter. GAMMA Investing LLC grew its position in Macro Bank by 9,810.7% in the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank’s stock valued at $5,867,000 after acquiring an additional 76,916 shares during the last quarter. Fiera Capital Corp bought a new position in Macro Bank in the second quarter valued at about $5,020,000. Finally, Cubist Systematic Strategies LLC grew its position in Macro Bank by 87.9% in the first quarter. Cubist Systematic Strategies LLC now owns 107,053 shares of the bank’s stock valued at $8,084,000 after acquiring an additional 50,067 shares during the last quarter.

Macro Bank Stock Down 0.8%

BMA opened at $51.14 on Monday. Macro Bank has a fifty-two week low of $38.30 and a fifty-two week high of $118.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $3.27 billion, a P/E ratio of 4.48, a P/E/G ratio of 0.95 and a beta of 1.54. The stock has a fifty day moving average of $55.12 and a 200-day moving average of $70.42.

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

Macro Bank Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 20th will be paid a $0.3051 dividend. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, October 20th. Macro Bank’s payout ratio is 38.56%.

About Macro Bank

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.