Macro Bank (NYSE:BMA) Stock Price Up 5.8% - Here's Why

Key Points

• Macro Bank shares rose 5.8% in intraday trading, reaching as high as $94.88 after closing at $89.82 the previous session, though volume was well below average.
• The stock's move came amid multiple analyst upgrades, including stronger ratings from Zacks, HSBC, JPMorgan, and Wall Street Zen. The consensus analyst view is now Buy, with an average target price of $111.25.
• The bank recently beat earnings expectations, reporting $1.73 EPS versus $1.42 expected, while also paying a monthly dividend yielding about 6.7%. However, its dividend payout ratio remains elevated at 134.04%.

Shares of Macro Bank Inc. (NYSE:BMA - Get Free Report) rose 5.8% during mid-day trading on Friday . The stock traded as high as $94.88 and last traded at $95.0740. Approximately 119,768 shares changed hands during trading, a decline of 62% from the average session volume of 315,342 shares. The stock had previously closed at $89.82.

Wall Street Analyst Weigh In

BMA has been the topic of several research analyst reports. Zacks Research raised shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 2nd. HSBC upgraded Macro Bank from a "hold" rating to a "buy" rating and set a $85.00 target price for the company in a report on Tuesday, May 5th. JPMorgan Chase & Co. raised their target price on shares of Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Weiss Ratings raised Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Finally, Wall Street Zen raised Macro Bank from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $111.25.

Macro Bank Trading Up 5.9%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. The firm has a fifty day moving average price of $85.38 and a 200-day moving average price of $84.67.

Macro Bank (NYSE:BMA - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.73 EPS for the quarter, beating the consensus estimate of $1.42 by $0.31. Macro Bank had a net margin of 5.81% and a return on equity of 8.42%. The business had revenue of $412.19 million during the quarter, compared to the consensus estimate of $837.75 million. As a group, equities analysts anticipate that Macro Bank Inc. will post 5.2 EPS for the current year.

Macro Bank Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.5296 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a c) annualized dividend and a dividend yield of 6.7%. Macro Bank's dividend payout ratio (DPR) is presently 134.04%.

Institutional Trading of Macro Bank

Institutional investors have recently modified their holdings of the business. Militia Capital Management LLC bought a new position in Macro Bank during the 1st quarter worth $2,932,000. Amundi raised its position in shares of Macro Bank by 107.0% during the first quarter. Amundi now owns 20,161 shares of the bank's stock worth $1,560,000 after acquiring an additional 10,421 shares during the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Macro Bank in the first quarter worth approximately $7,815,000. Cape Ann Asset Management Ltd boosted its holdings in Macro Bank by 1.3% in the first quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank's stock valued at $36,434,000 after acquiring an additional 5,892 shares during the last quarter. Finally, Titan Global Capital Management USA LLC increased its position in Macro Bank by 5.5% during the 1st quarter. Titan Global Capital Management USA LLC now owns 13,276 shares of the bank's stock valued at $1,027,000 after purchasing an additional 690 shares during the period.

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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