Macro Bank (NYSE:BMA) Trading 9.1% Higher – Here’s Why

Macro Bank Inc. (NYSE:BMA)’s stock price traded up 9.1% during mid-day trading on Wednesday . The company traded as high as $87.47 and last traded at $87.08. 228,762 shares traded hands during trading, a decline of 29% from the average session volume of 320,699 shares. The stock had previously closed at $79.84.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research raised Macro Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group cut their price objective on Macro Bank from $111.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Wall Street Zen raised Macro Bank from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Macro Bank in a research report on Friday, March 27th. Finally, HSBC upgraded shares of Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

Macro Bank Price Performance

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $75.57 and its two-hundred day moving average is $82.92. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 0.67 and a beta of 1.36.

Macro Bank (NYSE:BMA) last posted its earnings results on Thursday, May 28th. The bank reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.31. Macro Bank had a net margin of 5.81% and a return on equity of 8.47%. The firm had revenue of $412.19 million during the quarter, compared to the consensus estimate of $837.76 million. As a group, research analysts predict that Macro Bank Inc. will post 4.71 earnings per share for the current year.

Macro Bank Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be issued a $0.545 dividend. This is a boost from Macro Bank’s previous monthly dividend of $0.41. The ex-dividend date is Monday, May 18th. This represents a c) annualized dividend and a yield of 7.2%. Macro Bank’s payout ratio is 177.51%.

Hedge Funds Weigh In On Macro Bank

Several institutional investors have recently modified their holdings of BMA. PointState Capital LP grew its stake in shares of Macro Bank by 266.9% in the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank’s stock worth $77,311,000 after acquiring an additional 623,755 shares in the last quarter. Candriam S.C.A. acquired a new position in shares of Macro Bank in the third quarter worth $13,643,000. Millennium Management LLC grew its stake in shares of Macro Bank by 100.7% in the third quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock worth $24,325,000 after acquiring an additional 288,614 shares in the last quarter. Fundamenta Capital S.A. acquired a new position in shares of Macro Bank in the fourth quarter worth $17,130,000. Finally, Cape Ann Asset Management Ltd grew its stake in shares of Macro Bank by 66.2% in the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank’s stock worth $19,505,000 after acquiring an additional 183,700 shares in the last quarter.

About Macro Bank

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.