Banco Macro (NYSE:BMA) Rating Lowered to Hold at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of Banco Macro (NYSE:BMA – Free Report) from a buy rating to a hold rating in a research note released on Thursday.

Several other analysts also recently commented on the stock. Bank of America raised shares of Banco Macro from an underperform rating to a neutral rating and boosted their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised Banco Macro from an underweight rating to a neutral rating and upped their price target for the company from $14.00 to $78.00 in a report on Friday, August 30th.

Read Our Latest Analysis on BMA

Banco Macro Price Performance

NYSE:BMA opened at $66.44 on Thursday. The firm has a market cap of $4.25 billion, a P/E ratio of 3.92 and a beta of 1.80. Banco Macro has a 52-week low of $17.30 and a 52-week high of $76.08. The business’s 50-day moving average price is $58.53 and its 200 day moving average price is $56.49. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14.

Banco Macro (NYSE:BMA – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). The firm had revenue of $1.03 billion during the quarter. Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. During the same period last year, the company earned $2.69 earnings per share. As a group, sell-side analysts predict that Banco Macro will post 9.7 earnings per share for the current fiscal year.

Banco Macro Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a $1.798 dividend. This represents a $21.58 dividend on an annualized basis and a dividend yield of 32.47%. This is a boost from Banco Macro’s previous monthly dividend of $1.74. The ex-dividend date of this dividend was Friday, August 16th. Banco Macro’s payout ratio is currently 127.41%.

Institutional Trading of Banco Macro

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in Banco Macro in the first quarter valued at about $33,000. Ashton Thomas Private Wealth LLC bought a new stake in Banco Macro in the second quarter valued at about $51,000. Shilanski & Associates Inc. bought a new position in Banco Macro during the second quarter worth about $244,000. Claro Advisors LLC acquired a new position in shares of Banco Macro during the 1st quarter worth about $260,000. Finally, Norden Group LLC acquired a new position in shares of Banco Macro during the 1st quarter worth about $261,000.

Banco Macro Company Profile

(Get Free Report)

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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