Banco Macro (NYSE:BMA) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Banco Macro (NYSE:BMA) from a buy rating to a hold rating in a report published on Tuesday.

Separately, Bank of America raised shares of Banco Macro from an underperform rating to a neutral rating and upped their price target for the company from $53.00 to $62.00 in a report on Thursday, August 8th.

Banco Macro Price Performance

Shares of NYSE BMA opened at $59.31 on Tuesday. Banco Macro has a twelve month low of $17.30 and a twelve month high of $68.24. The company has a current ratio of 0.77, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 3.50 and a beta of 1.91. The firm has a 50-day moving average of $55.17 and a two-hundred day moving average of $50.50.

Banco Macro (NYSE:BMA) last issued its quarterly earnings results on Thursday, May 23rd. The bank reported $5.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $2.83. Banco Macro had a net margin of 16.33% and a return on equity of 37.91%. The company had revenue of $1.87 billion during the quarter. As a group, analysts expect that Banco Macro will post 11.83 earnings per share for the current fiscal year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 16th will be issued a dividend of $1.798 per share. This represents a $21.58 annualized dividend and a yield of 36.38%. The ex-dividend date is Friday, August 16th. This is an increase from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s payout ratio is presently 127.41%.

Institutional Trading of Banco Macro

Several institutional investors and hedge funds have recently bought and sold shares of BMA. Allspring Global Investments Holdings LLC acquired a new stake in Banco Macro during the 4th quarter worth about $1,462,000. Glenorchy Capital Ltd acquired a new position in shares of Banco Macro in the 4th quarter valued at about $2,217,000. Capital Wealth Planning LLC increased its holdings in shares of Banco Macro by 42.2% in the 4th quarter. Capital Wealth Planning LLC now owns 26,292 shares of the bank’s stock valued at $755,000 after purchasing an additional 7,806 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Banco Macro in the 4th quarter valued at about $1,475,000. Finally, HAP Trading LLC increased its holdings in shares of Banco Macro by 148.7% in the 4th quarter. HAP Trading LLC now owns 36,736 shares of the bank’s stock valued at $1,054,000 after purchasing an additional 21,964 shares during the period.

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 (ATMs), and money transfers.