Macro Bank (NYSE:BMA) Hits New 52-Week Low - Should You Sell?

Key Points

• Macro Bank Inc. (NYSE:BMA) reached a new 52-week low of $55.82 during trading, last closing at $56.14, raising concerns about the stock’s performance.
• The company recently reported earnings per share of $1.95, slightly missing analysts' expectations, yet reported revenue exceeding forecasts at $834.78 million for the quarter.
• A recent coverage by Itau BBA Securities assigned a "market perform" rating with a price target of $85.00, while Macro Bank holds an average rating of "Hold" with a consensus price target of $62.17.

Macro Bank Inc. (NYSE:BMA - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $55.82 and last traded at $56.14, with a volume of 10100 shares. The stock had previously closed at $57.93.

Analyst Ratings Changes

Separately, Itau BBA Securities began coverage on Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective for the company. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Macro Bank has an average rating of "Hold" and a consensus price target of $62.17.

Macro Bank Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50-day simple moving average of $68.04 and a 200-day simple moving average of $78.13. The firm has a market capitalization of $3.55 billion, a PE ratio of 4.87, a P/E/G ratio of 0.63 and a beta of 1.69.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share (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 company had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. Equities research analysts expect that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.3658 per share. 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 7.9%. Macro Bank's dividend payout ratio is currently 38.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BMA. Mirae Asset Global Investments Co. Ltd. bought a new position in Macro Bank in the first quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its stake in Macro Bank by 1,829.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock worth $58,000 after purchasing an additional 567 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC grew its stake in Macro Bank by 31.3% in the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after purchasing an additional 245 shares in the last quarter. Finally, Wallace Advisory Group LLC bought a new position in Macro Bank in the first quarter worth approximately $157,000.

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.

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