Macro Bank (NYSE:BMA) Trading Up 7.9% – Time to Buy?

Macro Bank Inc. (NYSE:BMA)’s share price rose 7.9% during trading on Thursday . The company traded as high as $93.18 and last traded at $92.6150. Approximately 290,799 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 471,279 shares. The stock had previously closed at $85.80.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BMA shares. The Goldman Sachs Group raised shares of Macro Bank to a “strong-buy” rating in a report on Monday, November 10th. Zacks Research upgraded Macro Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Itau BBA Securities raised shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. Citigroup upgraded Macro Bank from a “hold” rating to a “buy” rating in a research report on Monday, November 3rd. Finally, UBS Group started coverage on Macro Bank in a report on Wednesday, November 19th. They set a “buy” rating and a $130.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Macro Bank currently has a consensus rating of “Moderate Buy” and an average price target of $103.75.

Macro Bank Price Performance

The company has a fifty day moving average of $76.95 and a 200-day moving average of $67.86. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. The stock has a market cap of $5.91 billion, a PE ratio of 41.85, a P/E/G ratio of 1.61 and a beta of 1.46.

Macro Bank (NYSE:BMA) last released its earnings results on Wednesday, November 26th. The bank reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($1.06). The firm had revenue of $668.70 million during the quarter, compared to analyst estimates of $590.57 million. Macro Bank had a net margin of 6.11% and a return on equity of 8.15%. Sell-side analysts expect that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.3585 per share. This is a boost from Macro Bank’s previous monthly dividend of $0.35. The ex-dividend date is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a yield of 4.7%. Macro Bank’s dividend payout ratio (DPR) is currently 194.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in Macro Bank during the 3rd quarter worth about $46,000. Van ECK Associates Corp purchased a new stake in shares of Macro Bank in the 3rd quarter valued at approximately $72,000. Advisors Preferred LLC purchased a new stake in shares of Macro Bank during the 3rd quarter worth $117,000. Aquatic Capital Management LLC acquired a new position in shares of Macro Bank during the third quarter worth $151,000. Finally, Quantbot Technologies LP increased its holdings in Macro Bank by 46.8% in the third quarter. Quantbot Technologies LP now owns 4,856 shares of the bank’s stock valued at $205,000 after buying an additional 1,548 shares during the last quarter.

Macro Bank 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.