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

Macro Bank Inc. (NYSE:BMA)’s share price gapped down before the market opened 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.

Analysts Set New Price Targets

Several research firms recently commented on BMA. JPMorgan Chase & Co. upped their target price on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. HSBC cut shares of Macro Bank from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Monday, December 15th. UBS Group started coverage on shares of Macro Bank in a report on Wednesday, November 19th. They issued a “buy” rating and a $130.00 target price on the stock. Zacks Research raised shares of Macro Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Macro Bank in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Macro Bank presently has an average rating of “Moderate Buy” and a consensus target price of $103.75.

Macro Bank Stock Up 4.8%

The stock has a 50-day moving average of $91.92 and a 200-day moving average of $73.45. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 42.01, a P/E/G ratio of 1.01 and a beta of 1.46. 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 quarterly earnings data on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.06). The company had revenue of $625.90 million during the quarter, compared to the consensus estimate of $590.57 million. Macro Bank had a net margin of 6.11% and a return on equity of 8.15%. Sell-side analysts predict that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of Macro Bank by 100.7% during the 3rd quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock valued at $24,325,000 after buying an additional 288,614 shares in the last quarter. Aquamarine Financial Cayman Ltd increased its position in shares of Macro Bank by 23.8% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 564,501 shares of the bank’s stock valued at $50,895,000 after acquiring an additional 108,540 shares in the last quarter. Cape Ann Asset Management Ltd grew its stake in shares of Macro Bank by 66.2% in the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank’s stock worth $19,505,000 after acquiring an additional 183,700 shares during the period. Candriam S.C.A. bought a new position in Macro Bank in the third quarter valued at about $13,643,000. Finally, Fundamenta Capital S.A. purchased a new stake in shares of Macro Bank in the 4th quarter worth $17,130,000.

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.