Macro Bank (NYSE:BMA) Upgraded at Citigroup

Citigroup upgraded shares of Macro Bank (NYSE:BMA) from a hold rating to a buy rating in a report released on Monday morning, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Macro Bank in a research report on Wednesday, October 8th. Hsbc Global Res upgraded shares of Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Itau BBA Securities raised shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.38.

Macro Bank Stock Down 1.1%

BMA stock opened at $88.58 on Monday. The company has a fifty day moving average price of $55.14 and a 200 day moving average price of $69.26. Macro Bank has a 12 month low of $38.30 and a 12 month high of $118.42. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.59 and a beta of 1.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.13 and a quick ratio of 1.13.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.04). The business had revenue of $834.78 million during the quarter, compared to analysts’ expectations of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. Sell-side analysts expect that Macro Bank will post 7.84 earnings per share for the current year.

Macro Bank Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, October 27th. Shareholders of record on Monday, October 20th were given a $0.3051 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a c) annualized dividend and a yield of 4.1%. Macro Bank’s dividend payout ratio (DPR) is currently 89.05%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. increased its holdings in shares of Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock valued at $59,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC boosted its position in shares of Macro Bank by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock valued at $78,000 after purchasing an additional 245 shares during the period. Titan Global Capital Management USA LLC boosted its position in Macro Bank by 4.0% during the 2nd quarter. Titan Global Capital Management USA LLC now owns 8,368 shares of the bank’s stock worth $588,000 after acquiring an additional 323 shares during the period. Freedom Investment Management Inc. boosted its position in Macro Bank by 6.1% during the 1st quarter. Freedom Investment Management Inc. now owns 6,539 shares of the bank’s stock worth $494,000 after acquiring an additional 375 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Macro Bank during the 1st quarter valued at about $31,000.

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.