Macro Bank (NYSE:BMA) Shares Up 7.4% - What's Next?

Key Points

• Macro Bank's shares surged **7.4%**, reaching a high of **$48.02** during trading, despite a drop in trading volume compared to the average.
• Analysts have mixed views, with Zacks downgrading the stock to a "**strong sell**," while Itau BBA set a **price target of $85.00** and one analyst rated it a "**buy**."
• The bank reported **$1.95 EPS**, missing expectations, but achieving revenue of **$834.78 million** against a forecast of **$752.51 million**.

Shares of Macro Bank Inc. (NYSE:BMA - Get Free Report) traded up 7.4% on Wednesday . The stock traded as high as $48.02 and last traded at $47.47. 344,869 shares were traded during mid-day trading, a decline of 8% from the average session volume of 376,746 shares. The stock had previously closed at $44.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Itau BBA Securities assumed 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 downgraded Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Finally, Citigroup reissued a "neutral" rating on shares of Macro Bank in a report on Thursday. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.17.

Macro Bank Price Performance

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 company has a 50 day moving average price of $64.50 and a 200 day moving average price of $75.73. The firm has a market cap of $2.71 billion, a PE ratio of 3.72, a PEG ratio of 0.65 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 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 company had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. Sell-side analysts expect that Macro Bank Inc. will post 7.84 EPS 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. Stockholders of record on Friday, September 19th will be paid a dividend of $0.3665 per share. This represents a c) annualized dividend and a dividend yield of 10.4%. 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 dividend payout ratio (DPR) is currently 38.48%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Macro Bank in the first quarter worth $31,000. SBI Securities Co. Ltd. raised its position in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after acquiring an additional 124 shares in the last quarter. GAMMA Investing LLC raised its position in Macro Bank by 31.3% in the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after acquiring an additional 245 shares in the last quarter. Wallace Advisory Group LLC purchased a new position in Macro Bank in the first quarter worth $157,000. Finally, Northern Trust Corp purchased a new position in Macro Bank in the fourth quarter worth $238,000.

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.