Banco Macro (NYSE:BMA) Sets New 52-Week High – Still a Buy?

Shares of Banco Macro S.A. (NYSE:BMA) reached a new 52-week high during trading on Friday . The stock traded as high as $77.76 and last traded at $77.76, with a volume of 375 shares changing hands. The stock had previously closed at $76.84.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BMA. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $62.00 in a report on Thursday, August 8th. Finally, StockNews.com lowered Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Stock Up 2.4 %

The firm’s 50 day moving average is $65.48 and its 200-day moving average is $59.48. The firm has a market cap of $5.03 billion, a PE ratio of 4.54 and a beta of 1.80. 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) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). The business had revenue of $1.03 billion for the quarter. Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. During the same quarter in the previous year, the company posted $2.69 earnings per share. As a group, equities research analysts expect that Banco Macro S.A. 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. Shareholders of record on Friday, August 16th were issued a $1.798 dividend. 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. This represents a $21.58 annualized dividend and a yield of 27.42%. Banco Macro’s payout ratio is 127.41%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Candriam S.C.A. acquired a new position in Banco Macro during the second quarter worth approximately $43,236,000. Maple Rock Capital Partners Inc. purchased a new stake in shares of Banco Macro during the 1st quarter valued at $23,994,000. Duquesne Family Office LLC increased its holdings in shares of Banco Macro by 30.9% during the 2nd quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after buying an additional 64,400 shares during the last quarter. Ping Capital Management Inc. purchased a new position in shares of Banco Macro in the 2nd quarter worth $12,326,000. Finally, Marshall Wace LLP boosted its holdings in Banco Macro by 72.3% in the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock valued at $9,491,000 after acquiring an additional 69,494 shares during the last quarter.

Banco Macro 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.