Banco Macro (NYSE:BMA) Hits New 12-Month High – Here’s What Happened

Banco Macro S.A. (NYSE:BMA)’s stock price reached a new 52-week high on Friday . The company traded as high as $77.76 and last traded at $77.76, with a volume of 375 shares changing hands. The stock had previously closed at $76.84.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BMA shares. Bank of America upgraded Banco Macro from an “underperform” rating to a “neutral” rating and upped their target price for the company from $53.00 to $62.00 in a research report on Thursday, August 8th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $14.00 to $78.00 in a report on Friday, August 30th.

Banco Macro Price Performance

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 company has a market cap of $5.08 billion, a price-to-earnings ratio of 4.69 and a beta of 1.80. The business has a fifty day moving average price of $65.93 and a 200 day moving average price of $59.73.

Banco Macro (NYSE:BMA) last issued its earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. The firm had revenue of $1.03 billion during the quarter. During the same period in the previous year, the firm posted $2.69 earnings per share. As a group, research analysts anticipate that Banco Macro S.A. will post 9.7 earnings per share for the current 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 given a $1.798 dividend. This represents a $21.58 dividend on an annualized basis and a dividend yield of 27.17%. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s payout ratio is 127.41%.

Institutional Investors Weigh In On Banco Macro

Several institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in shares of Banco Macro in the first quarter worth approximately $33,000. Blue Trust Inc. increased its position in shares of Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after acquiring an additional 387 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Banco Macro during the second quarter valued at approximately $51,000. Shilanski & Associates Inc. purchased a new stake in Banco Macro in the second quarter worth $244,000. Finally, Claro Advisors LLC purchased a new stake in Banco Macro in the first quarter worth $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, and money transfers.