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)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $49.37 and last traded at $47.19, with a volume of 20753 shares traded. The stock had previously closed at $58.91.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BMA shares. Itau BBA Securities initiated 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. Zacks Research lowered Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $62.17.

Macro Bank Trading Down 21.3%

The company has a market cap of $2.96 billion, a price-to-earnings ratio of 4.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. 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's fifty day moving average price is $66.94 and its 200 day moving average price is $77.17.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $752.51 million. Research analysts anticipate that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were issued a $0.3658 dividend. This represents a c) dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend was Friday, August 15th. Macro Bank's dividend payout ratio (DPR) is 38.48%.

Institutional Trading of Macro Bank

Large investors have recently added to or reduced their stakes in the business. Marex Group plc bought a new position in Macro Bank during the second quarter valued at $1,018,000. Engineers Gate Manager LP increased its holdings in shares of Macro Bank by 12.7% during the 2nd quarter. Engineers Gate Manager LP now owns 37,118 shares of the bank's stock valued at $2,606,000 after purchasing an additional 4,196 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Macro Bank by 10.0% in 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 in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Macro Bank by 66.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 18,337 shares of the bank's stock valued at $1,287,000 after acquiring an additional 7,290 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Macro Bank in the 2nd quarter valued at about $2,221,000.

About Macro Bank

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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