Macro Bank (NYSE:BMA) Trading Down 4.6% - Should You Sell?

Shares of Macro Bank Inc. (NYSE:BMA - Get Free Report) were down 4.6% on Wednesday . The company traded as low as $63.14 and last traded at $63.24. Approximately 378,802 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 321,031 shares. The stock had previously closed at $66.25.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMA shares. Itau BBA Securities started coverage on Macro Bank in a research report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $62.13.

Macro Bank Trading Up 3.7%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $4.19 billion, a PE ratio of 5.74, a PEG ratio of 0.25 and a beta of 1.60. The business has a 50-day moving average of $78.29 and a 200 day moving average of $86.28.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The bank reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $1.76 by ($1.11). Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. The company had revenue of $759.36 million for the quarter, compared to analyst estimates of $837.49 billion. Equities research analysts predict that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.3985 per share. This represents a dividend yield of 9.2%. The ex-dividend date is Friday, July 18th. Macro Bank's dividend payout ratio is currently 31.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Macro Bank by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock valued at $43,227,000 after acquiring an additional 33,390 shares during the last quarter. Duquesne Family Office LLC boosted its stake in shares of Macro Bank by 14.5% during the 4th quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank's stock valued at $46,970,000 after buying an additional 61,300 shares during the last quarter. PointState Capital LP raised its position in shares of Macro Bank by 25.1% during the 4th quarter. PointState Capital LP now owns 339,020 shares of the bank's stock valued at $32,804,000 after acquiring an additional 68,096 shares in the last quarter. Axiom Investors LLC DE raised its position in shares of Macro Bank by 72.8% during the 4th quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock valued at $29,317,000 after acquiring an additional 127,678 shares in the last quarter. Finally, Gemsstock Ltd. increased its position in 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 period.

About Macro Bank

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.