Macro Bank (NYSE:BMA) Shares Up 5.8% – Still a Buy?

Macro Bank Inc. (NYSE:BMA) shares were up 5.8% during trading on Friday . The company traded as high as $94.88 and last traded at $95.0740. 119,768 shares were traded during trading, a decline of 62% from the average daily volume of 315,342 shares. The stock had previously closed at $89.82.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BMA shares. HSBC raised Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Wall Street Zen upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. increased their target price on shares of Macro Bank from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded shares of Macro Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $111.25.

Macro Bank Trading Up 5.9%

The business has a fifty day moving average of $85.38 and a 200-day moving average of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $6.08 billion, a P/E ratio of 22.41, a PEG ratio of 0.58 and a beta of 1.43.

Macro Bank (NYSE:BMA) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.31. Macro Bank had a net margin of 5.81% and a return on equity of 8.42%. The firm had revenue of $412.19 million for the quarter, compared to the consensus estimate of $837.75 million. Analysts anticipate that Macro Bank Inc. will post 5.2 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, June 2nd were given a $0.5296 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 6.7%. Macro Bank’s dividend payout ratio (DPR) is presently 134.04%.

Institutional Trading of Macro Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. increased its holdings in Macro Bank by 43.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 703 shares of the bank’s stock worth $63,000 after buying an additional 214 shares during the last quarter. HUB Investment Partners LLC boosted its stake in Macro Bank by 13.4% in the second quarter. HUB Investment Partners LLC now owns 3,828 shares of the bank’s stock valued at $269,000 after acquiring an additional 452 shares during the last quarter. Titan Global Capital Management USA LLC grew its position in shares of Macro Bank by 5.5% during the 1st quarter. Titan Global Capital Management USA LLC now owns 13,276 shares of the bank’s stock valued at $1,027,000 after acquiring an additional 690 shares during the period. Advisory Services Network LLC bought a new position in shares of Macro Bank during the 3rd quarter valued at approximately $46,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Macro Bank by 1.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 85,228 shares of the bank’s stock worth $5,984,000 after purchasing an additional 1,160 shares during the last quarter.

Macro Bank Company Profile

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.