Brokerages Set Macro Bank Inc. (NYSE:BMA) Target Price at $85.50

Shares of Macro Bank Inc. (NYSE:BMA) have been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $85.50.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Macro Bank in a report on Wednesday, October 8th. The Goldman Sachs Group upgraded shares of Macro Bank to a “strong-buy” rating in a research report on Monday, November 10th. Citigroup raised shares of Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Hsbc Global Res upgraded shares of Macro Bank to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and decreased their price target for the stock from $104.00 to $80.00 in a research report on Wednesday, October 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in Macro Bank in the 3rd quarter valued at about $46,000. Voleon Capital Management LP bought a new stake in shares of Macro Bank during the third quarter valued at approximately $345,000. Verition Fund Management LLC acquired a new stake in shares of Macro Bank in the third quarter valued at approximately $506,000. Militia Capital Partners LP acquired a new stake in shares of Macro Bank in the third quarter valued at approximately $1,776,000. Finally, Millennium Management LLC raised its position 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 last quarter.

Macro Bank Trading Up 7.9%

BMA stock opened at $82.57 on Tuesday. Macro Bank has a 1-year low of $38.30 and a 1-year high of $118.42. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $65.04 and its 200-day moving average is $68.55. The firm has a market cap of $5.28 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.59 and a beta of 1.57.

Macro Bank (NYSE:BMA) last announced its quarterly earnings results on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.06). Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. The company had revenue of $668.70 million during the quarter, compared to analyst estimates of $590.57 million. Equities analysts anticipate that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

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

Macro Bank Company Profile

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.