Banco Macro (NYSE:BMA) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Banco Macro (NYSE:BMA) from a hold rating to a buy rating in a report published on Wednesday.

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

Banco Macro Stock Performance

Shares of NYSE:BMA opened at $74.06 on Wednesday. The stock has a market capitalization of $4.74 billion, a P/E ratio of 4.37 and a beta of 1.80. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.14. Banco Macro has a 1-year low of $17.30 and a 1-year high of $76.08. The business has a 50-day moving average price of $57.06 and a two-hundred day moving average price of $55.51.

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

Banco Macro Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were issued a $1.798 dividend. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. The ex-dividend date of this dividend was Friday, August 16th. This represents a $21.58 annualized dividend and a dividend yield of 29.13%. Banco Macro’s payout ratio is 127.41%.

Institutional Trading of Banco Macro

Several hedge funds have recently added to or reduced their stakes in BMA. Headlands Technologies LLC acquired a new position in Banco Macro in the first quarter valued at about $33,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Banco Macro in the 2nd quarter valued at approximately $51,000. Shilanski & Associates Inc. acquired a new position in shares of Banco Macro in the 2nd quarter valued at approximately $244,000. Claro Advisors LLC bought a new stake in Banco Macro during the 1st quarter worth approximately $260,000. Finally, Norden Group LLC bought a new position in Banco Macro in the first quarter valued at approximately $261,000.

Banco Macro 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.