Macro Bank (NYSE:BMA) Trading 9.1% Higher – Here’s Why

Macro Bank Inc. (NYSE:BMA)’s stock price was up 9.1% during mid-day trading on Wednesday . The company traded as high as $87.47 and last traded at $87.08. Approximately 228,762 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 320,699 shares. The stock had previously closed at $79.84.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BMA shares. Weiss Ratings reissued a “sell (d)” rating on shares of Macro Bank in a research note on Friday, March 27th. Zacks Research raised shares of Macro Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group decreased their price objective on shares of Macro Bank from $111.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. HSBC raised shares of 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. Finally, Wall Street Zen raised shares of Macro Bank from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.25.

Macro Bank Trading Up 9.2%

The business’s 50 day simple moving average is $74.75 and its two-hundred day simple moving average is $82.92. The stock has a market cap of $5.57 billion, a P/E ratio of 26.45, a PEG ratio of 0.60 and a beta of 1.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.29.

Macro Bank (NYSE:BMA) last posted its earnings results on Saturday, February 14th. The bank reported $0.11 earnings per share for the quarter. The firm had revenue of $312.24 million for the quarter. Macro Bank had a net margin of 4.99% and a return on equity of 6.85%. As a group, analysts expect that Macro Bank Inc. will post 4.71 EPS for the current year.

Macro Bank Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be paid a $0.545 dividend. This is a positive change from Macro Bank’s previous monthly dividend of $0.41. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, May 18th. Macro Bank’s payout ratio is presently 194.53%.

Institutional Trading of Macro Bank

Several institutional investors have recently modified their holdings of BMA. NewEdge Advisors LLC bought a new stake in shares of Macro Bank in the first quarter worth $704,000. Jones Financial Companies Lllp grew its stake in shares of Macro Bank by 271,350.0% in the first quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank’s stock worth $410,000 after purchasing an additional 5,427 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Macro Bank by 47.8% in the first quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank’s stock worth $5,045,000 after purchasing an additional 21,613 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Macro Bank by 106.5% in the first quarter. Jane Street Group LLC now owns 13,705 shares of the bank’s stock worth $1,035,000 after purchasing an additional 7,067 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Macro Bank by 14.6% in the second quarter. JPMorgan Chase & Co. now owns 79,947 shares of the bank’s stock worth $5,613,000 after purchasing an additional 10,211 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.