Banco Macro (NYSE:BMA) Downgraded by StockNews.com to Hold

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

BMA has been the topic of a number of other research reports. JPMorgan Chase & Co. raised shares of Banco Macro from an underweight rating to a neutral rating and raised their target price for the company from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America raised shares of Banco Macro from an underperform rating to a neutral rating and lifted their price target for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th.

Banco Macro Stock Performance

Shares of BMA stock opened at $66.44 on Thursday. The company’s fifty day simple moving average is $58.53 and its 200-day simple moving average is $56.60. Banco Macro has a 52 week low of $17.30 and a 52 week high of $76.08. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.25 billion, a PE ratio of 3.92 and a beta of 1.80.

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

Banco Macro Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in Banco Macro during the 1st quarter worth $33,000. Ashton Thomas Private Wealth LLC acquired a new position in Banco Macro during the 2nd quarter worth $51,000. Shilanski & Associates Inc. acquired a new position in Banco Macro during the 2nd quarter worth $244,000. Claro Advisors LLC acquired a new position in Banco Macro during the 1st quarter worth $260,000. Finally, Norden Group LLC acquired a new position in Banco Macro during the 1st quarter worth $261,000.

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.