Macro Bank Inc. (NYSE:BMA) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Analysts broadly favor Macro Bank: Eight analysts give the stock a consensus “Buy” rating, including six buys and one strong buy, with an average 12-month price target of $111.25.
• Macro Bank reported quarterly EPS of $1.73, exceeding the $1.42 consensus estimate by $0.31. Shares recently opened at $91.57, near their 52-week high of $106.15.
• The bank paid a monthly dividend of $0.5296 per share, representing an annualized yield of about 6.9%; however, its dividend payout ratio is elevated at 128.84%.

Shares of Macro Bank Inc. (NYSE:BMA - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $111.25.

Several brokerages have recently weighed in on BMA. Zacks Research upgraded Macro Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded Macro Bank from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. Weiss Ratings raised Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. HSBC upgraded Macro Bank from a "hold" rating to a "buy" rating and set a $85.00 price target for the company in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on Macro Bank from $120.00 to $132.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th.

Hedge Funds Weigh In On Macro Bank

A number of institutional investors have recently added to or reduced their stakes in BMA. SBI Securities Co. Ltd. lifted its stake in Macro Bank by 43.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 703 shares of the bank's stock valued at $63,000 after acquiring an additional 214 shares during the last quarter. HUB Investment Partners LLC increased its stake in shares of Macro Bank by 13.4% during the 2nd quarter. HUB Investment Partners LLC now owns 3,828 shares of the bank's stock worth $269,000 after purchasing an additional 452 shares during the last quarter. Titan Global Capital Management USA LLC increased its stake in shares of Macro Bank by 5.5% during the 1st quarter. Titan Global Capital Management USA LLC now owns 13,276 shares of the bank's stock worth $1,027,000 after purchasing an additional 690 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Macro Bank in the 3rd quarter valued at about $46,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Macro Bank by 1.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 85,228 shares of the bank's stock valued at $5,984,000 after purchasing an additional 1,160 shares during the period.

Macro Bank Stock Performance

Shares of BMA opened at $91.57 on Friday. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.59 and a beta of 1.43. Macro Bank has a 12 month low of $38.30 and a 12 month high of $106.15. The firm has a fifty day simple moving average of $91.49 and a 200 day simple moving average of $84.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.31. Macro Bank had a net margin of 5.81% and a return on equity of 8.42%. The firm had revenue of $412.19 million for the quarter, compared to analyst estimates of $837.75 million. Research analysts forecast that Macro Bank will post 5.21 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, June 2nd were paid a $0.5296 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a c) annualized dividend and a dividend yield of 6.9%. Macro Bank's dividend payout ratio (DPR) is currently 128.84%.

About Macro Bank

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.

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