Macro Bank Inc. (NYSE:BMA) Given Consensus Rating of “Buy” by Brokerages

Shares of Macro Bank Inc. (NYSE:BMA) have been given an average rating of “Buy” by the eight brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $111.25.

Several research firms recently weighed in on BMA. JPMorgan Chase & Co. boosted their target price on Macro Bank from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings raised shares of Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Zacks Research upgraded shares of Macro Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. HSBC raised shares of Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th.

Hedge Funds Weigh In On Macro Bank

A number of institutional investors have recently made changes to their positions in the business. Militia Capital Management LLC acquired a new position in shares of Macro Bank during the 1st quarter worth about $2,932,000. Amundi grew its holdings in Macro Bank by 107.0% in the 1st quarter. Amundi now owns 20,161 shares of the bank’s stock valued at $1,560,000 after buying an additional 10,421 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in Macro Bank in the 1st quarter worth approximately $7,815,000. Cape Ann Asset Management Ltd increased its position in Macro Bank by 1.3% in the 1st quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank’s stock worth $36,434,000 after buying an additional 5,892 shares during the period. Finally, Titan Global Capital Management USA LLC lifted its holdings in shares of Macro Bank by 5.5% during the first quarter. Titan Global Capital Management USA LLC now owns 13,276 shares of the bank’s stock worth $1,027,000 after buying an additional 690 shares during the last quarter.

Macro Bank Price Performance

NYSE BMA opened at $91.86 on Wednesday. Macro Bank has a fifty-two week low of $38.30 and a fifty-two week high of $106.15. The stock’s 50-day moving average is $84.78 and its two-hundred day moving average is $84.68. The firm has a market cap of $5.87 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 0.60 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.08 and a quick ratio of 1.08.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.31. The company had revenue of $412.19 million during the quarter, compared to the consensus estimate of $837.75 million. Macro Bank had a return on equity of 8.42% and a net margin of 5.81%. On average, analysts anticipate that Macro Bank will post 5.2 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.5296 per share. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Tuesday, June 2nd. Macro Bank’s dividend payout ratio is 134.04%.

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.