Banco Macro (NYSE:BMA - Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($1.11), Zacks reports. The company had revenue of $759.36 million during the quarter, compared to analysts' expectations of $837.49 billion. Banco Macro had a net margin of 15.12% and a return on equity of 26.55%.
Banco Macro Stock Performance
Shares of BMA stock traded down $2.44 during trading hours on Monday, reaching $82.07. The company had a trading volume of 340,650 shares, compared to its average volume of 321,813. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. Banco Macro has a one year low of $42.23 and a one year high of $118.42. The firm has a market cap of $5.24 billion, a PE ratio of 7.19 and a beta of 1.73. The business has a fifty day moving average price of $85.49 and a 200-day moving average price of $90.48.
Analysts Set New Price Targets
A number of analysts have recently issued reports on BMA shares. JPMorgan Chase & Co. lifted their price objective on shares of Banco Macro from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Itau BBA Securities assumed coverage on shares of Banco Macro in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $62.13.
Get Our Latest Research Report on BMA
Institutional Investors Weigh In On Banco Macro
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its position in Banco Macro by 106.5% during the first quarter. Jane Street Group LLC now owns 13,705 shares of the bank's stock valued at $1,035,000 after purchasing an additional 7,067 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Banco Macro by 47.8% in the first quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank's stock worth $5,045,000 after purchasing an additional 21,613 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Banco Macro by 271,350.0% during the first quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank's stock worth $410,000 after acquiring an additional 5,427 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Banco Macro in the first quarter worth $704,000.
About Banco Macro
(
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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.
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