Macro Bank (NYSE:BMA) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Macro Bank (NYSE:BMA) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. HSBC upgraded shares of Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Macro Bank from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Macro Bank in a research note on Friday, March 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Macro Bank from $111.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Macro Bank currently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Macro Bank Trading Down 3.0%

Shares of Macro Bank stock opened at $86.29 on Tuesday. Macro Bank has a 1 year low of $38.30 and a 1 year high of $106.15. The firm has a market cap of $5.51 billion, a PE ratio of 20.40, a PEG ratio of 0.57 and a beta of 1.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day simple moving average of $77.25 and a two-hundred day simple moving average of $83.05.

Macro Bank (NYSE:BMA) last announced its earnings results on Wednesday, May 27th. The bank reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.31. Macro Bank had a net margin of 5.81% and a return on equity of 8.47%. The business had revenue of $412.19 million during the quarter, compared to analyst estimates of $837.76 million. Analysts expect that Macro Bank will post 5.2 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.545 per share. This represents a c) annualized dividend and a dividend yield of 7.6%. This is a boost from Macro Bank’s previous monthly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 18th. Macro Bank’s payout ratio is 138.77%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BMA. PointState Capital LP increased its stake in shares of Macro Bank by 266.9% in the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank’s stock worth $77,311,000 after buying an additional 623,755 shares during the period. Candriam S.C.A. purchased a new position in shares of Macro Bank in the third quarter worth $13,643,000. Millennium Management LLC increased its stake in shares of Macro Bank by 100.7% in the third quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock worth $24,325,000 after buying an additional 288,614 shares during the period. Fundamenta Capital S.A. purchased a new position in shares of Macro Bank in the fourth quarter worth $17,130,000. Finally, Cape Ann Asset Management Ltd increased 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 buying an additional 183,700 shares during the period.

About Macro Bank

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.