Banco Macro (NYSE:BMA) Downgraded by StockNews.com

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

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

Banco Macro Stock Up 1.5 %

Shares of NYSE BMA opened at $66.44 on Thursday. The business has a 50-day moving average price of $58.53 and a 200 day moving average price of $56.49. The stock has a market cap of $4.25 billion, a PE ratio of 3.92 and a beta of 1.80. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14. Banco Macro has a 52-week low of $17.30 and a 52-week high of $76.08.

Banco Macro (NYSE:BMA) last released its quarterly earnings results on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. The company had revenue of $1.03 billion for the quarter. During the same period in the previous year, the business earned $2.69 EPS. Equities research analysts forecast that Banco Macro will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a dividend of $1.798 per share. This is an increase from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 annualized dividend and a yield of 32.47%. The ex-dividend date of this dividend was Friday, August 16th. Banco Macro’s payout ratio is currently 127.41%.

Hedge Funds Weigh In On Banco Macro

A number of institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Banco Macro during the first quarter worth approximately $33,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Banco Macro during the second quarter worth about $51,000. Shilanski & Associates Inc. acquired a new position in Banco Macro in the second quarter worth about $244,000. Claro Advisors LLC bought a new stake in Banco Macro in the first quarter valued at about $260,000. Finally, Norden Group LLC acquired a new stake in Banco Macro during the first quarter valued at approximately $261,000.

About Banco Macro

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, and money transfers.