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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group reduced their price target on Macro Bank from $111.00 to $98.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Macro Bank from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. HSBC upgraded shares of Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 5th. Weiss Ratings restated a “sell (d)” rating on shares of Macro Bank in a research report on Friday, March 27th. Finally, Zacks Research upgraded shares of Macro Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Macro Bank Price Performance

The company’s 50-day simple moving average is $74.75 and its 200-day simple moving average is $82.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 0.60 and a beta of 1.36.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Saturday, February 14th. The bank reported $0.11 earnings per share for the quarter. Macro Bank had a net margin of 4.99% and a return on equity of 6.85%. The company had revenue of $312.24 million during the quarter. Research analysts forecast that Macro Bank Inc. will post 4.71 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

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

Institutional Investors Weigh In On Macro Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. Monaco Asset Management SAM raised its position in shares of Macro Bank by 536.2% in the third quarter. Monaco Asset Management SAM now owns 82,700 shares of the bank’s stock valued at $3,497,000 after buying an additional 69,700 shares in the last quarter. Ramirez Asset Management Inc. raised its position in shares of Macro Bank by 69.6% in the third quarter. Ramirez Asset Management Inc. now owns 56,718 shares of the bank’s stock valued at $2,399,000 after buying an additional 23,285 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Macro Bank in the third quarter valued at approximately $992,000. X Square Capital LLC increased its stake in Macro Bank by 1,215.0% in the third quarter. X Square Capital LLC now owns 71,536 shares of the bank’s stock valued at $3,025,000 after acquiring an additional 66,096 shares during the last quarter. Finally, Militia Capital Partners LP bought a new position in Macro Bank in the third quarter valued at approximately $1,776,000.

About Macro Bank

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.