Macro Bank (NYSE:BMA) Trading Down 5.2% - Here's Why

Key Points

• Macro Bank's share price fell by 5.2% to $43.80 amidst low trading volume, dropping significantly from a previous close of $46.18.
• Analysts have mixed opinions on Macro Bank, with one analyst rating it a Buy, three maintaining a Hold, and Zacks research downgrading it to a strong sell.
• The bank recently reported a quarterly earnings miss, with earnings per share of $1.95 compared to the consensus estimate of $1.99, despite a revenue of $834.78 million.

Macro Bank Inc. (NYSE:BMA - Get Free Report)'s share price dropped 5.2% during mid-day trading on Friday . The stock traded as low as $44.13 and last traded at $43.80. Approximately 181,727 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 383,055 shares. The stock had previously closed at $46.18.

Analyst Upgrades and Downgrades

BMA has been the topic of several analyst reports. Zacks Research lowered shares of Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Citigroup reaffirmed a "neutral" rating on shares of Macro Bank in a report on Thursday. Finally, Itau BBA Securities assumed coverage on shares of Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 target price on the stock. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $62.17.

Macro Bank Trading Down 3.2%

The business's fifty day simple moving average is $64.03 and its 200 day simple moving average is $75.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.71 billion, a P/E ratio of 3.72, a price-to-earnings-growth ratio of 0.65 and a beta of 1.69.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $752.51 million. As a group, analysts expect that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 19th will be given a dividend of $0.3665 per share. This represents a c) dividend on an annualized basis and a yield of 10.4%. The ex-dividend date is Friday, September 19th. This is a boost from Macro Bank's previous monthly dividend of $0.37. Macro Bank's dividend payout ratio is currently 38.48%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMA. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the 1st quarter valued at about $31,000. SBI Securities Co. Ltd. lifted its position in Macro Bank by 19.0% during the 1st 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 lifted its position in Macro Bank by 31.3% during the 1st 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. Wallace Advisory Group LLC acquired a new position in Macro Bank during the 1st quarter valued at about $157,000. Finally, Burns Matteson Capital Management LLC lifted its position in Macro Bank by 30.4% during the 1st 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.

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.