Macro Bank (NYSE:BMA) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Macro Bank (NYSE:BMA) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other equities research analysts have also commented on BMA. Zacks Research lowered shares of Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. HSBC upgraded shares of Macro Bank from a “hold” rating to a “buy” rating and lowered their price target for the company from $104.00 to $80.00 in a report on Wednesday. Finally, Citigroup lowered shares of Macro Bank from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Macro Bank currently has a consensus rating of “Hold” and a consensus target price of $66.63.

Macro Bank Price Performance

Shares of Macro Bank stock opened at $41.75 on Wednesday. Macro Bank has a 52-week low of $38.30 and a 52-week high of $118.42. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 3.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.54. The company has a fifty day moving average of $58.11 and a 200-day moving average of $72.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13.

Macro Bank (NYSE:BMA) last announced its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. The business had revenue of $834.78 million during the quarter, compared to analysts’ expectations of $752.51 million. Equities research analysts expect that Macro Bank will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 19th were issued a $0.3665 dividend. This is a boost from Macro Bank’s previous monthly dividend of $0.37. The ex-dividend date was Friday, September 19th. This represents a c) annualized dividend and a yield of 10.5%. Macro Bank’s dividend payout ratio (DPR) is currently 38.48%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMA. Sagil Capital LLP bought a new position in shares of Macro Bank in the 2nd quarter worth about $10,094,000. Marshall Wace LLP increased its stake in shares of Macro Bank by 4,089.3% in the 2nd quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock worth $8,439,000 after acquiring an additional 117,322 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Macro Bank by 9,810.7% in the 1st quarter. GAMMA Investing LLC now owns 77,700 shares of the bank’s stock worth $5,867,000 after acquiring an additional 76,916 shares in the last quarter. Fiera Capital Corp bought a new position in shares of Macro Bank in the 2nd quarter worth about $5,020,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Macro Bank by 87.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 107,053 shares of the bank’s stock worth $8,084,000 after acquiring an additional 50,067 shares in the last quarter.

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.