Macro Bank (NYSE:BMA) Shares Down 3.3% - Should You Sell?

Key Points

• Macro Bank's shares have decreased by 3.3%, trading at approximately $41.99 amidst significant drops in trading volume.
• Analysts have downgraded the stock, with Citigroup shifting from a "buy" to a "hold" rating, and Zacks Research moving from "hold" to a "strong sell" rating.
• The bank has recently announced a monthly dividend increase to $0.3665, reflecting an annual yield of 11.1%.

Shares of Macro Bank Inc. (NYSE:BMA - Get Free Report) traded down 3.3% during mid-day trading on Thursday . The company traded as low as $41.80 and last traded at $41.99. 125,769 shares changed hands during trading, a decline of 67% from the average session volume of 386,332 shares. The stock had previously closed at $43.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Zacks Research cut shares of Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Citigroup cut shares of Macro Bank from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.17.

Macro Bank Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 3.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.68. The company's 50-day moving average is $61.86 and its 200-day moving average is $74.42.

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 (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.04). Macro Bank had a return on equity of 10.94% and a net margin of 8.32%.The business had revenue of $834.78 million during the quarter, compared to analyst estimates 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 Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 19th will be issued a dividend of $0.3665 per share. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change from Macro Bank's previous monthly dividend of $0.37. This represents a c) annualized dividend and a dividend yield of 11.2%. Macro Bank's dividend payout ratio (DPR) is 38.48%.

Institutional Trading of Macro Bank

Several hedge funds have recently modified their holdings of BMA. Sagil Capital LLP acquired a new stake in shares of Macro Bank during the second quarter worth approximately $10,094,000. Marshall Wace LLP increased its holdings in shares of Macro Bank by 4,089.3% in the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank's stock valued at $8,439,000 after purchasing an additional 117,322 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Macro Bank by 9,810.7% in the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock valued at $5,867,000 after purchasing an additional 76,916 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Macro Bank in the second quarter valued at approximately $5,020,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Macro Bank by 87.9% in the first quarter. Cubist Systematic Strategies LLC now owns 107,053 shares of the bank's stock valued at $8,084,000 after purchasing an additional 50,067 shares in the last quarter.

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.