Macro Bank (NYSE:BMA) Trading Up 7.9% – Time to Buy?

Macro Bank Inc. (NYSE:BMA)’s stock price rose 7.9% on Thursday . The stock traded as high as $93.18 and last traded at $92.6150. Approximately 290,799 shares changed hands during trading, a decline of 38% from the average daily volume of 471,279 shares. The stock had previously closed at $85.80.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Macro Bank from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. The Goldman Sachs Group upgraded shares of Macro Bank to a “strong-buy” rating in a research note on Monday, November 10th. Citigroup raised Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their target price on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Itau BBA Securities upgraded Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Macro Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Macro Bank Trading Up 7.8%

The firm has a market cap of $5.91 billion, a PE ratio of 41.85, a P/E/G ratio of 1.61 and a beta of 1.46. The company’s fifty day moving average price is $76.95 and its two-hundred day moving average price is $67.86. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 0.30.

Macro Bank (NYSE:BMA) last issued its earnings results on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.06). The company had revenue of $668.70 million for the quarter, compared to analysts’ expectations of $590.57 million. Macro Bank had a return on equity of 8.15% and a net margin of 6.11%. As a group, sell-side analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 16th will be issued a $0.3585 dividend. This represents a c) dividend on an annualized basis and a yield of 4.7%. This is a boost from Macro Bank’s previous monthly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 16th. Macro Bank’s dividend payout ratio is 194.57%.

Institutional Investors Weigh In On Macro Bank

A number of institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in Macro Bank during the third quarter worth $46,000. Van ECK Associates Corp purchased a new position in shares of Macro Bank in the third quarter valued at $72,000. Advisors Preferred LLC acquired a new position in shares of Macro Bank during the 3rd quarter worth $117,000. Militia Capital Partners LP lifted its holdings in shares of Macro Bank by 70.4% in the first quarter. Militia Capital Partners LP now owns 3,460 shares of the bank’s stock valued at $261,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Macro Bank during the 3rd quarter valued at $151,000.

Macro Bank 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, and money transfers.