Brokerages Set Macro Bank Inc. (NYSE:BMA) Price Target at $74.38

Macro Bank Inc. (NYSE:BMA) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $74.3750.

Several equities analysts have issued reports on the stock. Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Itau BBA Securities raised shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. boosted their price objective on Macro Bank from $79.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Hsbc Global Res raised Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Macro Bank in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Macro Bank

A number of hedge funds have recently modified their holdings of BMA. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the first quarter worth about $31,000. SBI Securities Co. Ltd. lifted its stake in Macro Bank by 19.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock worth $59,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Macro Bank by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock worth $78,000 after purchasing an additional 245 shares during the last quarter. Burns Matteson Capital Management LLC grew its position in shares of 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 in the last quarter. Finally, Deuterium Capital Management LLC purchased a new stake in shares of Macro Bank in the first quarter valued at approximately $218,000.

Macro Bank Stock Up 6.3%

Macro Bank stock opened at $90.24 on Friday. 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 stock has a market capitalization of $5.77 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.54. The business has a 50 day simple moving average of $53.29 and a 200-day simple moving average of $69.14. Macro Bank has a 12 month low of $38.30 and a 12 month high of $118.42.

Macro Bank (NYSE:BMA) last announced its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). The business had revenue of $834.78 million for the quarter, compared to analysts’ expectations of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. On average, analysts anticipate that Macro Bank will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, October 27th. Shareholders of record on Monday, October 20th were paid a dividend of $0.3051 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, October 20th. Macro Bank’s payout ratio is 89.05%.

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.