Macro Bank (NYSE:BMA) Reaches New 1-Year Low - Time to Sell?

Key Points

• Macro Bank's stock price dropped to a new 52-week low, trading as low as $49.37, and closed at $47.19 on Monday, significantly down from a previous close of $58.91.
• The bank's recent quarterly earnings fell short of estimates, with earnings per share reported at $1.95 against a consensus of $1.99, although revenue exceeded expectations at $834.78 million.
• Analysts provided mixed assessments on Macro Bank, with one rating the stock as a Buy, two as a Hold, and one as a Sell, leading to a consensus rating of "Hold" with an average target price of $62.17.

Macro Bank Inc. (NYSE:BMA - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $49.37 and last traded at $47.19, with a volume of 20753 shares trading hands. The stock had previously closed at $58.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BMA shares. Zacks Research cut shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Itau BBA Securities initiated coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price objective on the stock. Finally, Citigroup reaffirmed a "neutral" rating on shares of Macro Bank in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $62.17.

Macro Bank Price Performance

The stock has a 50 day moving average of $64.50 and a two-hundred day moving average of $75.84. The stock has a market cap of $2.79 billion, a PE ratio of 3.83, a PEG ratio of 0.68 and a beta of 1.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly 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). The company had revenue of $834.78 million during the quarter, compared to analysts' expectations of $752.51 million. Macro Bank had a return on equity of 10.94% and a net margin of 8.32%. Equities analysts anticipate that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 19th will be paid a $0.3665 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a c) dividend on an annualized basis and a yield of 10.1%. This is an increase from Macro Bank's previous monthly dividend of $0.37. Macro Bank's dividend payout ratio (DPR) is 38.48%.

Institutional Investors Weigh In On Macro Bank

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Macro Bank by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock worth $43,227,000 after acquiring an additional 33,390 shares during the period. Gemsstock Ltd. boosted its position in Macro Bank by 30.3% during the 1st quarter. Gemsstock Ltd. now owns 206,725 shares of the bank's stock worth $15,610,000 after acquiring an additional 48,100 shares during the period. Sagil Capital LLP acquired a new stake in Macro Bank during the 2nd quarter worth about $10,094,000. Marshall Wace LLP boosted its position in Macro Bank by 4,089.3% during the 2nd quarter. Marshall Wace LLP now owns 120,191 shares of the bank's stock worth $8,439,000 after acquiring an additional 117,322 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Macro Bank by 10.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 117,770 shares of the bank's stock worth $8,269,000 after acquiring an additional 10,717 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.