Macro Bank (NYSE:BMA) Releases Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Key Points

• Macro Bank beat earnings expectations: The bank reported quarterly EPS of $2.17, $0.46 above the $1.71 consensus estimate. Revenue was $406.86 million, below analyst expectations of $946.46 million.
• Shares declined 1.6% to $74.88 following the results, while the company’s market capitalization stood at approximately $4.78 billion.
• Analyst sentiment remains positive: Macro Bank has an overall “Buy” rating and a consensus price target of $111.25, despite reducing its dividend to a monthly $0.5296 payment and reporting a payout ratio above 128%.

Macro Bank (NYSE:BMA - Get Free Report) issued its quarterly earnings results on Wednesday. The bank reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.46, FiscalAI reports. Macro Bank had a return on equity of 8.42% and a net margin of 5.81%.The company had revenue of $406.86 million for the quarter, compared to analyst estimates of $946.46 million.

Macro Bank Trading Down 1.6%

Shares of Macro Bank stock traded down $1.20 on Wednesday, hitting $74.88. The stock had a trading volume of 301,063 shares, compared to its average volume of 306,921. The stock has a 50 day moving average of $90.91 and a 200 day moving average of $83.71. The firm has a market capitalization of $4.78 billion, a P/E ratio of 17.70, a PEG ratio of 0.49 and a beta of 1.46. Macro Bank has a twelve month low of $38.30 and a twelve month high of $106.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.08.

Macro Bank Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, June 10th. Stockholders 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 8.5%. Macro Bank's dividend payout ratio is currently 128.61%.

Institutional Investors Weigh In On Macro Bank

A number of institutional investors have recently added to or reduced their stakes in the business. HUB Investment Partners LLC grew its position 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 buying an additional 452 shares during the period. Advisory Services Network LLC bought a new stake in shares of Macro Bank in the 3rd quarter valued at $46,000. Qube Research & Technologies Ltd lifted its position in shares of Macro Bank by 1.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 85,228 shares of the bank's stock valued at $5,984,000 after acquiring an additional 1,160 shares during the period. Van ECK Associates Corp acquired a new position in shares of Macro Bank during the 3rd quarter valued at $72,000. Finally, Mariner LLC bought a new position in Macro Bank during the fourth quarter worth $214,000.

Wall Street Analyst Weigh In

BMA has been the topic of several research analyst reports. Wall Street Zen raised Macro Bank from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Weiss Ratings raised Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. Zacks Research raised shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. HSBC upgraded shares of Macro Bank from a "hold" rating to a "buy" rating and set a $85.00 price target on the stock in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Macro Bank presently has an average rating of "Buy" and a consensus price target of $111.25.

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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