Macro Bank (NYSE:BMA) Stock Price Up 8.2% – Still a Buy?

Macro Bank Inc. (NYSE:BMA) shares rose 8.2% on Thursday . The stock traded as high as $92.49 and last traded at $92.1280. Approximately 142,557 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 269,191 shares. The stock had previously closed at $85.16.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMA. UBS Group began coverage on shares of Macro Bank in a research note on Wednesday, November 19th. They issued a “buy” rating and a $130.00 price objective on the stock. The Goldman Sachs Group upgraded Macro Bank to a “strong-buy” rating in a research note on Monday, November 10th. Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Macro Bank in a report on Monday, December 29th. Finally, Citigroup raised shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.75.

Macro Bank Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50 day moving average price of $92.51 and a 200 day moving average price of $74.75. The firm has a market cap of $5.85 billion, a PE ratio of 41.42, a PEG ratio of 1.27 and a beta of 1.46.

Macro Bank (NYSE:BMA) last issued its quarterly 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). Macro Bank had a return on equity of 8.15% and a net margin of 6.11%.The company had revenue of $625.90 million for the quarter, compared to the consensus estimate of $590.57 million. Sell-side analysts expect that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th will be given a $0.3822 dividend. This is a boost from Macro Bank’s previous monthly dividend of $0.36. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date is Thursday, February 19th. Macro Bank’s dividend payout ratio is 193.21%.

Hedge Funds Weigh In On Macro Bank

A number of institutional investors and hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. bought a new stake in Macro Bank in the third quarter worth about $254,000. ABS Direct Equity Fund LLC raised its holdings in shares of Macro Bank by 726.8% during the third quarter. ABS Direct Equity Fund LLC now owns 30,550 shares of the bank’s stock valued at $1,292,000 after buying an additional 26,855 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Macro Bank during the 3rd quarter valued at $992,000. Monaco Asset Management SAM raised its position in Macro Bank by 225.0% in the 2nd quarter. Monaco Asset Management SAM now owns 13,000 shares of the bank’s stock valued at $913,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of Macro Bank during the second quarter worth approximately $5,020,000.

About Macro Bank

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.