Macro Bank (NYSE:BMA) Releases Quarterly Earnings Results, Misses Estimates By $1.06 EPS

Macro Bank (NYSE:BMA) posted its quarterly earnings data on Wednesday. The bank reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.06), Zacks reports. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%.

Macro Bank Stock Up 7.9%

NYSE BMA traded up $6.08 on Wednesday, reaching $82.57. The stock had a trading volume of 851,958 shares, compared to its average volume of 481,322. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. Macro Bank has a 1 year low of $38.30 and a 1 year high of $118.42. The business has a 50 day moving average price of $63.41 and a 200 day moving average price of $68.36. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.59 and a beta of 1.57.

Macro Bank Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were paid a $0.3486 dividend. This represents a c) dividend on an annualized basis and a yield of 5.1%. This is an increase from Macro Bank’s previous monthly dividend of $0.31. The ex-dividend date was Monday, November 17th. Macro Bank’s dividend payout ratio is presently 101.70%.

Institutional Investors Weigh In On Macro Bank

Several large investors have recently made changes to their positions in the company. Two Sigma Investments LP raised its position in Macro Bank by 102.9% during the third quarter. Two Sigma Investments LP now owns 28,809 shares of the bank’s stock valued at $1,218,000 after acquiring an additional 14,609 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Macro Bank during the 3rd quarter valued at $46,000. Voleon Capital Management LP bought a new position in shares of Macro Bank during the 3rd quarter valued at $345,000. Aquatic Capital Management LLC acquired a new stake in shares of Macro Bank in the 3rd quarter valued at $151,000. Finally, Scharf Investments LLC bought a new stake in Macro Bank in the third quarter worth $844,000.

Analyst Ratings Changes

A number of research firms recently issued reports on BMA. HSBC raised Macro Bank from a “hold” rating to a “buy” rating and lowered their target price for the stock from $104.00 to $80.00 in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Macro Bank in a research note on Wednesday, October 8th. The Goldman Sachs Group raised shares of Macro Bank to a “strong-buy” rating in a research note on Monday, November 10th. Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. Finally, Itau BBA Securities raised Macro Bank from a “market perform” rating to an “outperform” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $85.50.

About Macro Bank

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.