StockNews.com upgraded shares of Banco Macro (NYSE:BMA – Get Rating) from a hold rating to a buy rating in a report released on Friday.
Separately, TheStreet upgraded shares of Banco Macro from a c rating to a b- rating in a research note on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $17.70.
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Banco Macro Price Performance
Shares of Banco Macro stock opened at $13.25 on Friday. The firm has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $13.87. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.16. Banco Macro has a 1-year low of $9.72 and a 1-year high of $18.05. The stock has a market capitalization of $847.21 million, a price-to-earnings ratio of 3.19 and a beta of 1.25.
Banco Macro (NYSE:BMA – Get Rating) last issued its quarterly earnings data on Wednesday, August 24th. The bank reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.10). The firm had revenue of $552.75 million during the quarter, compared to analyst estimates of $404.78 million. Banco Macro had a return on equity of 10.70% and a net
margin of 9.30%. On average, sell-side analysts expect that Banco Macro will post 3.35 earnings per share for the current year.
Banco Macro Cuts Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 25th will be issued a $0.0787 dividend. This represents a $0.94 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend is Wednesday, November 23rd. Banco Macro's dividend payout ratio (DPR) is presently 24.52%.
Institutional Investors Weigh In On Banco Macro
Several large investors have recently made changes to their positions in the company. Eaton Vance Management bought a new stake in shares of Banco Macro in the 1st quarter worth about $3,724,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Banco Macro by 77.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 163,609 shares of the bank's stock worth $2,830,000 after purchasing an additional 71,205 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Banco Macro in the 1st quarter worth about $2,595,000. BNP Paribas Arbitrage SNC grew its holdings in shares of Banco Macro by 58.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 96,458 shares of the bank's stock worth $1,376,000 after purchasing an additional 35,770 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Banco Macro by 3.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,872 shares of the bank's stock worth $1,641,000 after purchasing an additional 3,351 shares during the last quarter. Institutional investors own 5.52% of the company's stock.
Banco Macro Company Profile
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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.
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