The Goldman Sachs Group Cuts Macro Bank (NYSE:BMA) Price Target to $98.00

Macro Bank (NYSE:BMA) had its price target trimmed by The Goldman Sachs Group from $111.00 to $98.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other research analysts have also issued reports on BMA. Zacks Research lowered shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. UBS Group assumed coverage on shares of Macro Bank in a research report on Wednesday, November 19th. They set a “buy” rating and a $130.00 price objective on the stock. HSBC lowered Macro Bank from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Macro Bank in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Macro Bank presently has an average rating of “Hold” and an average price target of $102.60.

Macro Bank Stock Up 0.8%

Shares of NYSE:BMA opened at $74.44 on Monday. Macro Bank has a 1 year low of $38.30 and a 1 year high of $106.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.16. The business’s 50-day moving average is $91.39 and its 200-day moving average is $75.56. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 0.37 and a beta of 1.51.

Macro Bank (NYSE:BMA) last issued its 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. Macro Bank had a return on equity of 6.85% and a net margin of 4.99%.The business had revenue of $708.92 million during the quarter, compared to the consensus estimate of $739.97 million. Equities research analysts predict 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 paid a $0.3822 dividend. This represents a c) annualized dividend and a dividend yield of 6.2%. This is a boost from Macro Bank’s previous monthly dividend of $0.36. The ex-dividend date of this dividend was Thursday, February 19th. Macro Bank’s dividend payout ratio (DPR) is currently 139.51%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMA. NewEdge Advisors LLC bought a new position in Macro Bank during the 1st quarter valued at $704,000. Jones Financial Companies Lllp raised its holdings in shares of Macro Bank by 271,350.0% in the first 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 during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Macro Bank by 47.8% during the first 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 first quarter. Jane Street Group LLC now owns 13,705 shares of the bank’s stock valued at $1,035,000 after purchasing an additional 7,067 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in 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 during 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.