Macro Bank (NYSE:BMA) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Macro Bank (NYSE:BMA) from a sell rating to a hold rating in a report released on Sunday.

A number of other research firms also recently issued reports on BMA. UBS Group assumed coverage on shares of Macro Bank in a research note on Wednesday, November 19th. They issued a “buy” rating and a $130.00 price target on the stock. Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Citigroup raised Macro Bank from a “hold” rating to a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Macro Bank in a research note on Monday, December 29th. Finally, HSBC cut Macro Bank from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.75.

Macro Bank Price Performance

BMA stock opened at $77.02 on Friday. Macro Bank has a 52-week low of $38.30 and a 52-week high of $106.15. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.29. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.51. The business has a fifty day moving average of $92.31 and a two-hundred day moving average of $75.48.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.60. The business had revenue of $708.92 million during the quarter, compared to analysts’ expectations of $739.97 million. Macro Bank had a return on equity of 6.85% and a net margin of 4.99%. As a group, research analysts anticipate that Macro Bank will post 7.84 earnings per share for the current year.

Macro Bank Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were given a dividend of $0.3822 per share. This is a boost from Macro Bank’s previous monthly dividend of $0.36. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, February 19th. Macro Bank’s dividend payout ratio is presently 139.51%.

Institutional Trading of Macro Bank

Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in Macro Bank in the first quarter worth approximately $704,000. Jones Financial Companies Lllp raised its holdings in shares of Macro Bank by 271,350.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank’s stock valued at $410,000 after purchasing an additional 5,427 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Macro Bank by 47.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank’s stock valued at $5,045,000 after purchasing an additional 21,613 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Macro Bank by 106.5% during the 1st quarter. Jane Street Group LLC now owns 13,705 shares of the bank’s stock worth $1,035,000 after purchasing an additional 7,067 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Macro Bank by 16.8% during the second quarter. Envestnet Asset Management Inc. now owns 32,747 shares of the bank’s stock worth $2,299,000 after purchasing an additional 4,716 shares in the last quarter.

Macro Bank Company Profile

Macro Bank (NYSE: BMA) is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.