Banco Macro (NYSE:BMA) Reaches New 12-Month High at $70.17

Banco Macro S.A. (NYSE:BMA) shares hit a new 52-week high during trading on Monday . The company traded as high as $70.17 and last traded at $69.74, with a volume of 43285 shares trading hands. The stock had previously closed at $67.76.

Analysts Set New Price Targets

BMA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of 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 report on Friday, August 30th. Bank of America upgraded Banco Macro from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $62.00 in a report on Thursday, August 8th. Finally, StockNews.com upgraded Banco Macro from a “hold” rating to a “buy” rating in a research note on Wednesday.

Banco Macro Stock Performance

The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 4.15 and a beta of 1.80. The firm’s 50 day moving average is $55.96 and its 200-day moving average is $55.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.79.

Banco Macro (NYSE:BMA) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). The company had revenue of $1.03 billion during the quarter. Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. During the same period in the prior year, the company earned $2.69 earnings per share. Sell-side analysts anticipate that Banco Macro S.A. will post 9.7 earnings per share for the current fiscal year.

Banco Macro Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were issued a dividend of $1.798 per share. This represents a $21.58 annualized dividend and a yield of 30.43%. The ex-dividend date was Friday, August 16th. This is an increase from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s dividend payout ratio (DPR) is 127.41%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BMA. Mackenzie Financial Corp boosted its stake in Banco Macro by 32.9% during the 2nd quarter. Mackenzie Financial Corp now owns 10,988 shares of the bank’s stock valued at $630,000 after purchasing an additional 2,718 shares during the period. Duquesne Family Office LLC lifted its holdings in shares of Banco Macro by 30.9% during the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after buying an additional 64,400 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Banco Macro by 72.3% in the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock valued at $9,491,000 after acquiring an additional 69,494 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Banco Macro in the second quarter worth $1,344,000. Finally, Beverly Hills Private Wealth LLC increased its position in Banco Macro by 6.2% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock worth $316,000 after acquiring an additional 323 shares during the period.

About Banco Macro

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.