Macro Bank (NYSE:BMA) Stock Price Down 6.9% - Should You Sell?

Key Points

• Macro Bank's stock price fell by 6.9% during recent trading, closing at $41.65, indicative of declining investor confidence.
• The company had a net margin of 8.32% and reported missed earnings estimates for the last quarter, leading to downgrades from analysts.
• Despite the downturn, Macro Bank increased its monthly dividend to $0.3665, reflecting a dividend yield of 10.5% for shareholders.

Macro Bank Inc. (NYSE:BMA - Get Free Report)'s stock price was down 6.9% during trading on Tuesday . The company traded as low as $41.75 and last traded at $41.65. Approximately 316,826 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 416,606 shares. The stock had previously closed at $44.73.

Analyst Upgrades and Downgrades

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

Macro Bank Stock Down 6.2%

The stock has a market capitalization of $2.68 billion, a PE ratio of 3.68, a price-to-earnings-growth ratio of 0.85 and a beta of 1.68. 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 fifty day moving average price is $59.70 and its two-hundred day moving average price is $72.76.

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 10.99%. The firm had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. On average, equities research analysts forecast that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 19th were issued a $0.3665 dividend. This is an increase from Macro Bank's previous monthly dividend of $0.37. The ex-dividend date of this dividend was Friday, September 19th. This represents a c) annualized dividend and a dividend yield of 10.5%. Macro Bank's payout ratio is currently 38.48%.

Institutional Trading of Macro Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Macro Bank in the first quarter valued at approximately $31,000. SBI Securities Co. Ltd. grew its holdings in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock valued at $59,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC grew its holdings in Macro Bank by 31.3% in the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock valued at $78,000 after purchasing an additional 245 shares during the period. Burns Matteson Capital Management LLC grew its holdings in Macro Bank by 30.4% in the first quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank's stock valued at $202,000 after purchasing an additional 624 shares during the period. Finally, Deuterium Capital Management LLC purchased a new position in shares of Macro Bank in the first quarter valued at approximately $218,000.

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.

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