Macro Bank (NYSE:BMA) Shares Gap Down – Here’s What Happened

Shares of Macro Bank Inc. (NYSE:BMA) gapped down prior to trading on Friday . The stock had previously closed at $95.44, but opened at $90.02. Macro Bank shares last traded at $90.68, with a volume of 13,582 shares traded.

Wall Street Analysts Forecast Growth

BMA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Macro Bank in a research note on Monday, December 29th. Zacks Research raised Macro Bank from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Itau BBA Securities raised shares of Macro Bank from a “market perform” rating to an “outperform” rating in a report on Monday, October 27th. Citigroup raised shares of Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Finally, UBS Group initiated coverage on Macro Bank in a research note on Wednesday, November 19th. They set a “buy” rating and a $130.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Macro Bank Trading Up 4.8%

The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.46. The business’s 50-day moving average price is $91.92 and its two-hundred day moving average price is $73.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16.

Macro Bank (NYSE:BMA) last issued its earnings results on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.06). Macro Bank had a net margin of 6.11% and a return on equity of 8.15%. The business had revenue of $625.90 million during the quarter, compared to analysts’ expectations of $590.57 million. Equities analysts expect that Macro Bank Inc. will post 7.84 earnings per share for the current year.

Macro Bank Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, January 29th. Investors of record on Thursday, January 22nd were given a $0.3557 dividend. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Thursday, January 22nd. Macro Bank’s dividend payout ratio is 193.21%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Candriam S.C.A. bought a new position in Macro Bank during the third quarter valued at approximately $13,643,000. Millennium Management LLC increased its position in shares of Macro Bank by 100.7% during the third quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock valued at $24,325,000 after purchasing an additional 288,614 shares during the period. Fundamenta Capital S.A. acquired a new stake in shares of Macro Bank during the 4th quarter valued at about $17,130,000. Cape Ann Asset Management Ltd boosted its holdings in Macro Bank by 66.2% during the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank’s stock valued at $19,505,000 after purchasing an additional 183,700 shares in the last quarter. Finally, Sagil Capital LLP bought a new stake in shares of Macro Bank in the 2nd quarter worth about $10,094,000.

Macro Bank Company Profile

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.