Macro Bank (NYSE:BMA) Releases Earnings Results, Misses Expectations By $1.06 EPS

by · The Cerbat Gem

Macro Bank (NYSE:BMAGet Free Report) posted its quarterly earnings data on Wednesday. The bank reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($1.06), Zacks reports. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%.

Macro Bank Price Performance

BMA stock opened at $82.57 on Thursday. Macro Bank has a one year low of $38.30 and a one year high of $118.42. The firm has a 50-day moving average of $64.20 and a two-hundred day moving average of $68.46. The firm has a market capitalization of $5.28 billion, a PE ratio of 20.09, a P/E/G ratio of 1.59 and a beta of 1.57. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23.

Macro Bank Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were paid a dividend of $0.3486 per share. This is a boost from Macro Bank’s previous monthly dividend of $0.31. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Monday, November 17th. Macro Bank’s payout ratio is currently 101.70%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMA. Weiss Ratings reissued a “hold (c-)” rating on shares of Macro Bank in a research note on Wednesday, October 8th. UBS Group assumed coverage on Macro Bank in a report on Wednesday, November 19th. They set a “buy” rating and a $130.00 target price on the stock. Hsbc Global Res upgraded Macro Bank to a “strong-buy” rating in a research report on Wednesday, October 1st. Citigroup raised Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $85.50.

Check Out Our Latest Stock Report on Macro Bank

Institutional Investors Weigh In On Macro Bank

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in Macro Bank by 100.7% in the 3rd quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock worth $24,325,000 after purchasing an additional 288,614 shares during the period. Marshall Wace LLP lifted its holdings in shares of Macro Bank by 4,089.3% in the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock valued at $8,439,000 after purchasing an additional 117,322 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Macro Bank by 42.6% in the third quarter. JPMorgan Chase & Co. now owns 113,983 shares of the bank’s stock valued at $4,820,000 after purchasing an additional 34,036 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Macro Bank in the second quarter worth $2,221,000. Finally, Banco BTG Pactual S.A. boosted its position in shares of Macro Bank by 411.7% in the third quarter. Banco BTG Pactual S.A. now owns 29,936 shares of the bank’s stock worth $1,266,000 after buying an additional 24,086 shares during the period.

Macro Bank Company Profile

(Get Free Report)

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.

Recommended Stories