Banco Macro (NYSE:BMA) Downgraded to “Hold” at StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of Banco Macro from an underweight rating to a neutral rating and boosted their price objective for the company from $14.00 to $78.00 in a research report on Friday, August 30th. Bank of America upgraded shares of Banco Macro from an underperform rating to a neutral rating and upped their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th.

Banco Macro Price Performance

BMA opened at $62.04 on Friday. The company has a 50-day moving average of $54.45 and a 200-day moving average of $53.33. The company has a market capitalization of $3.97 billion, a P/E ratio of 3.66 and a beta of 1.91. Banco Macro has a 1-year low of $17.30 and a 1-year high of $68.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.79.

Banco Macro (NYSE:BMA) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. The business had revenue of $1.03 billion for the quarter. During the same period in the previous year, the company posted $2.69 earnings per share. Equities analysts expect that Banco Macro will post 10.52 EPS for the current fiscal year.

Banco Macro Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were paid a $1.798 dividend. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a dividend yield of 34.78%. The ex-dividend date was Friday, August 16th. Banco Macro’s dividend payout ratio is currently 127.41%.

Institutional Trading of Banco Macro

A number of institutional investors have recently made changes to their positions in BMA. Headlands Technologies LLC acquired a new stake in shares of Banco Macro in the 1st quarter worth approximately $33,000. Ashton Thomas Private Wealth LLC acquired a new stake in Banco Macro during the second quarter valued at approximately $51,000. Shilanski & Associates Inc. acquired a new stake in Banco Macro during the second quarter valued at approximately $244,000. Claro Advisors LLC acquired a new stake in Banco Macro during the first quarter valued at approximately $260,000. Finally, Norden Group LLC acquired a new stake in Banco Macro during the first quarter valued at approximately $261,000.

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.