Banco Macro (NYSE:BMA) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Banco Macro (NYSE:BMA) from a hold rating to a buy rating in a research report released on Wednesday.

Other equities analysts also recently issued reports about the stock. Bank of America raised shares of Banco Macro from an underperform rating to a neutral rating and raised their price objective for the stock from $53.00 to $62.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Banco Macro from an underweight rating to a neutral rating and increased their price target for the stock from $14.00 to $78.00 in a research report on Friday, August 30th.

Banco Macro Stock Down 1.0 %

BMA stock opened at $74.06 on Wednesday. Banco Macro has a twelve month low of $17.30 and a twelve month high of $76.08. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.74 billion, a PE ratio of 4.37 and a beta of 1.80. The business’s 50-day simple moving average is $57.06 and its 200 day simple moving average is $55.51.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). The firm had revenue of $1.03 billion for the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. During the same quarter in the previous year, the company posted $2.69 EPS. On average, research analysts anticipate that Banco Macro will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were issued a dividend of $1.798 per share. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a dividend yield of 29.13%. Banco Macro’s dividend payout ratio (DPR) is presently 127.41%.

Institutional Investors Weigh In On Banco Macro

Several large investors have recently made changes to their positions in the company. Candriam S.C.A. acquired a new position in Banco Macro in the second quarter valued at about $43,236,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Banco Macro in the 1st quarter worth approximately $23,994,000. Ping Capital Management Inc. bought a new stake in Banco Macro during the 2nd quarter worth approximately $12,326,000. Fourth Sail Capital LP bought a new stake in Banco Macro during the 1st quarter worth approximately $9,038,000. Finally, Marshall Wace LLP increased its holdings in Banco Macro by 72.3% during the 2nd quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock valued at $9,491,000 after purchasing an additional 69,494 shares in the last quarter.

About Banco Macro

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.