Banco Macro (NYSE:BMA) Hits New 1-Year High at $70.17

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

Analyst Ratings Changes

BMA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Banco Macro from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $78.00 in a report on Friday, August 30th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th.

Banco Macro Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.77. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 4.09 and a beta of 1.80. The stock has a 50 day simple moving average of $55.44 and a two-hundred day simple moving average of $54.61.

Banco Macro (NYSE:BMA) last posted 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). Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. The business had revenue of $1.03 billion during the quarter. During the same quarter in the previous year, the company posted $2.69 EPS. As a group, analysts anticipate that Banco Macro S.A. will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a $1.798 dividend. The ex-dividend date was Friday, August 16th. This is a boost from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a yield of 31.25%. Banco Macro’s dividend payout ratio (DPR) is currently 127.41%.

Institutional Trading of Banco Macro

A number of hedge funds and other institutional investors have recently bought and sold shares of BMA. Candriam S.C.A. acquired a new stake in shares of Banco Macro during the second quarter worth about $43,236,000. Maple Rock Capital Partners Inc. acquired a new stake in shares of Banco Macro during the first quarter worth about $23,994,000. Duquesne Family Office LLC increased its position 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 purchasing an additional 64,400 shares in the last quarter. Ping Capital Management Inc. acquired a new stake in shares of Banco Macro during the second quarter worth about $12,326,000. Finally, Fourth Sail Capital LP acquired a new stake in shares of Banco Macro during the first quarter worth about $9,038,000.

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 (ATMs), and money transfers.