Banco Macro (NYSE:BMA) Cut to Hold at StockNews.com

StockNews.com cut shares of Banco Macro (NYSE:BMA) from a buy rating to a hold rating in a report issued on Friday morning.

Other analysts have also issued research reports about the company. Bank of America upgraded Banco Macro from an underperform rating to a neutral rating and upped their price objective for the company from $53.00 to $62.00 in a research note on Thursday, August 8th. JPMorgan Chase & Co. upgraded Banco Macro from an underweight rating to a neutral rating and increased their target price for the stock from $14.00 to $78.00 in a research note on Friday, August 30th.

Banco Macro Stock Performance

NYSE:BMA opened at $63.84 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.79. The stock’s 50 day moving average price is $54.66 and its two-hundred day moving average price is $53.82. Banco Macro has a 12-month low of $17.30 and a 12-month high of $68.24.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($5.50). The business had revenue of $1.03 billion during the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. During the same quarter last year, the company earned $2.69 EPS. On average, equities research analysts predict that Banco Macro will post 5.97 EPS for the current year.

Banco Macro Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were paid a dividend of $1.798 per share. The ex-dividend date was Friday, August 16th. This represents a $21.58 dividend on an annualized basis and a dividend yield of 33.80%. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s dividend payout ratio (DPR) is 127.41%.

Hedge Funds Weigh In On Banco Macro

A number of large investors have recently made changes to their positions in BMA. Headlands Technologies LLC bought a new position in shares of Banco Macro during the first quarter worth approximately $33,000. Ashton Thomas Private Wealth LLC bought a new position in Banco Macro during the 2nd quarter worth $51,000. Shilanski & Associates Inc. bought a new position in Banco Macro during the 2nd quarter worth $244,000. Claro Advisors LLC bought a new position in Banco Macro during the 1st quarter worth $260,000. Finally, Norden Group LLC bought a new position in Banco Macro during the 1st quarter worth $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 (ATMs), and money transfers.