Banco Macro (NYSE:BMA) Trading 7.4% Higher

Banco Macro S.A. (NYSE:BMA)’s stock price rose 7.4% on Thursday . The stock traded as high as $56.40 and last traded at $56.40. Approximately 105,473 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 365,748 shares. The stock had previously closed at $52.53.

Wall Street Analysts Forecast Growth

BMA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $78.00 in a research report on Friday. Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $62.00 in a report on Thursday, August 8th. Finally, StockNews.com raised shares of Banco Macro from a “hold” rating to a “buy” rating in a research note on Thursday.

Banco Macro Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 1.05. The company has a market capitalization of $3.76 billion, a PE ratio of 3.47 and a beta of 1.91. The stock has a 50-day simple moving average of $54.03 and a 200 day simple moving average of $52.27.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a return on equity of 37.91% and a net margin of 16.33%. The business had revenue of $1.03 billion during the quarter. During the same quarter in the previous year, the company earned $2.69 EPS. Equities analysts anticipate that Banco Macro S.A. will post 11.83 EPS for the current fiscal year.

Banco Macro Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were paid a $1.798 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $21.58 dividend on an annualized basis and a yield of 36.69%. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s dividend payout ratio is presently 127.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new stake in shares of Banco Macro in the fourth quarter valued at $1,475,000. LSV Asset Management lifted its holdings in shares of Banco Macro by 11.3% during the 1st quarter. LSV Asset Management now owns 64,000 shares of the bank’s stock worth $3,084,000 after acquiring an additional 6,500 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Banco Macro in the first quarter worth approximately $348,000. Diversify Advisory Services LLC purchased a new stake in Banco Macro in the first quarter valued at approximately $854,000. Finally, Claro Advisors LLC acquired a new position in Banco Macro during the first quarter worth approximately $260,000.

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 (ATMs), and money transfers.