Macro Bank (NYSE:BMA) Hits New 12-Month Low – What’s Next?

Macro Bank Inc. (NYSE:BMA) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $55.82 and last traded at $56.14, with a volume of 10100 shares. The stock had previously closed at $57.93.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMA. Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Itau BBA Securities began coverage on shares of Macro Bank in a report on Tuesday, May 20th. They set a “market perform” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.17.

Macro Bank Stock Down 2.8%

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3.61 billion, a PE ratio of 4.95, a P/E/G ratio of 0.63 and a beta of 1.68. The stock’s fifty day simple moving average is $67.46 and its 200-day simple moving average is $77.84.

Macro Bank (NYSE:BMA) last issued its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). The company had revenue of $834.78 million during the quarter, compared to analysts’ expectations of $752.51 million. Macro Bank had a return on equity of 10.94% and a net margin of 8.32%. As a group, sell-side analysts forecast that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $0.3658 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Friday, August 15th. Macro Bank’s payout ratio is 38.48%.

Hedge Funds Weigh In On Macro Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Macro Bank by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank’s stock worth $43,227,000 after buying an additional 33,390 shares during the last quarter. Duquesne Family Office LLC boosted its holdings in shares of Macro Bank by 14.5% in the 4th quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank’s stock worth $46,970,000 after buying an additional 61,300 shares during the last quarter. PointState Capital LP boosted its holdings in shares of Macro Bank by 25.1% in the 4th quarter. PointState Capital LP now owns 339,020 shares of the bank’s stock worth $32,804,000 after buying an additional 68,096 shares during the last quarter. Gemsstock Ltd. boosted its holdings in shares of Macro Bank by 30.3% in the 1st quarter. Gemsstock Ltd. now owns 206,725 shares of the bank’s stock worth $15,610,000 after buying an additional 48,100 shares during the last quarter. Finally, Sagil Capital LLP purchased a new position in shares of Macro Bank in the 2nd quarter worth about $10,094,000.

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.