Macro Bank (NYSE:BMA) Reaches New 12-Month Low – Time to Sell?

Macro Bank Inc. (NYSE:BMA)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $49.37 and last traded at $47.19, with a volume of 20753 shares. The stock had previously closed at $58.91.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Itau BBA Securities began coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They issued a “market perform” rating and a $85.00 target price for the company. Zacks Research lowered shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Macro Bank currently has an average rating of “Hold” and an average price target of $62.17.

Macro Bank Stock Down 21.3%

The company has a market cap of $2.96 billion, a price-to-earnings ratio of 4.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The business’s 50 day simple moving average is $66.94 and its 200-day simple moving average is $77.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05.

Macro Bank (NYSE:BMA) last posted its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.04). Macro Bank had a return on equity of 10.94% and a net margin of 8.32%.The company had revenue of $834.78 million for the quarter, compared to the consensus estimate of $752.51 million. Sell-side analysts expect that Macro Bank Inc. will post 7.84 earnings per share for the current year.

Macro Bank Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a $0.3658 dividend. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend was Friday, August 15th. Macro Bank’s dividend payout ratio is presently 38.48%.

Institutional Investors Weigh In On Macro Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Macro Bank during the 1st quarter worth about $31,000. Tower Research Capital LLC TRC boosted its holdings in shares of Macro Bank by 1,829.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock worth $58,000 after buying an additional 567 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Macro Bank by 19.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock worth $59,000 after buying an additional 124 shares during the period. GAMMA Investing LLC raised its stake in Macro Bank by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock worth $78,000 after purchasing an additional 245 shares in the last quarter. Finally, Wallace Advisory Group LLC acquired a new stake in Macro Bank in the 1st quarter worth about $157,000.

About Macro Bank

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.