Macro Bank (NYSE:BMA) Shares Gap Up - Time to Buy?

Key Points

• Macro Bank shares saw a significant increase, opening at $45.56 after closing at $39.27, with a last trade price of $44.70 and a trading volume of 734,708 shares.
• Despite a strong revenue report of $834.78 million, the bank missed EPS estimates, reporting $1.95 against the anticipated $1.99.
• Macro Bank announced a slight increase in its monthly dividend to $0.3665 per share, reflecting an annualized yield of 9.3%.

Macro Bank Inc. (NYSE:BMA - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $39.27, but opened at $45.56. Macro Bank shares last traded at $44.70, with a volume of 734,708 shares.

Wall Street Analysts Forecast Growth

BMA has been the topic of several research analyst reports. Citigroup cut shares of Macro Bank from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Zacks Research cut shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Macro Bank presently has an average rating of "Hold" and an average target price of $62.17.

Macro Bank Trading Up 0.7%

The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 4.20, a PEG ratio of 0.58 and a beta of 1.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.13 and a quick ratio of 1.13. The business's 50-day simple moving average is $61.51 and its two-hundred day simple moving average is $74.02.

Macro Bank (NYSE:BMA - Get Free Report) last announced 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). Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. The business had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. On average, research analysts anticipate that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal 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. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. This is a boost from Macro Bank's previous monthly dividend of $0.37. The ex-dividend date is Friday, September 19th. Macro Bank's payout ratio is presently 38.56%.

Institutional Trading of Macro Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Macro Bank by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock worth $43,227,000 after buying an additional 33,390 shares during the last quarter. Gemsstock Ltd. increased its stake in shares of Macro Bank by 30.3% in the first quarter. Gemsstock Ltd. now owns 206,725 shares of the bank's stock worth $15,610,000 after buying an additional 48,100 shares during the last quarter. Sagil Capital LLP bought a new stake in shares of Macro Bank in the second quarter worth $10,094,000. Marshall Wace LLP increased its stake 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 worth $8,439,000 after buying an additional 117,322 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Macro Bank by 10.0% in the second quarter. Cubist Systematic Strategies LLC now owns 117,770 shares of the bank's stock worth $8,269,000 after buying an additional 10,717 shares during 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.