Macro Bank Inc. (NYSE:BMA) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Macro Bank Inc. (NYSE:BMA) received a consensus rating of "Hold" from five brokerages, with one sell, three hold, and one buy rating assigned to the stock.
• The bank reported $1.95 EPS for the quarter, missing analysts' estimates, while revenue surpassed expectations at $834.78 million.
• Macro Bank recently announced a monthly dividend of $0.3658, reflecting a 9.3% annualized yield and a payout ratio of 38.48%.

Macro Bank Inc. (NYSE:BMA - Get Free Report) has been assigned a consensus rating of "Hold" from the five brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.1667.

A number of brokerages recently issued reports on BMA. Citigroup reissued a "neutral" rating on shares of Macro Bank in a report on Thursday. Itau BBA Securities began coverage on shares of Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective for the company. Finally, Zacks Research lowered shares of Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th.

Macro Bank Price Performance

Shares of NYSE BMA opened at $47.27 on Thursday. The firm has a 50-day simple moving average of $65.50 and a 200-day simple moving average of $76.43. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 4.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.68. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Macro Bank has a 52 week low of $43.90 and a 52 week high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last issued its earnings results on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $1.99 by ($0.04). Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. The business had revenue of $834.78 million during the quarter, compared to analyst estimates of $752.51 million. On average, equities analysts predict that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $0.3658 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. Macro Bank's dividend payout ratio is currently 38.48%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BMA. Northern Trust Corp purchased a new position in Macro Bank during the fourth quarter worth about $238,000. Bank of America Corp DE boosted its stake in Macro Bank by 93.5% during the fourth quarter. Bank of America Corp DE now owns 6,631 shares of the bank's stock worth $642,000 after buying an additional 3,205 shares during the period. Cetera Investment Advisers boosted its stake in Macro Bank by 31.2% during the fourth quarter. Cetera Investment Advisers now owns 9,215 shares of the bank's stock worth $892,000 after buying an additional 2,194 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Macro Bank by 84.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank's stock worth $52,161,000 after buying an additional 247,070 shares during the period. Finally, PointState Capital LP boosted its stake in Macro Bank by 25.1% during the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after buying an additional 68,096 shares during the period.

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.

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