Short Interest in Macro Bank Inc. (NYSE:BMA) Drops By 37.3%

Macro Bank Inc. (NYSE:BMA) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 459,375 shares, a decline of 37.3% from the November 30th total of 732,390 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 320,907 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 320,907 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.9% of the shares of the company are short sold.

Macro Bank Stock Up 0.6%

Shares of Macro Bank stock traded up $0.56 during trading on Friday, hitting $91.57. 136,801 shares of the stock were exchanged, compared to its average volume of 280,976. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 41.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.46. The firm’s 50-day moving average price is $82.38 and its 200 day moving average price is $68.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16. Macro Bank has a 12-month low of $38.30 and a 12-month high of $118.42.

Macro Bank (NYSE:BMA) last issued its quarterly earnings data on Wednesday, November 26th. The bank reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.06). The firm had revenue of $668.70 million for the quarter, compared to analysts’ expectations of $590.57 million. Macro Bank had a return on equity of 8.15% and a net margin of 6.11%. As a group, analysts forecast that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 16th were paid a $0.3585 dividend. This is a boost from Macro Bank’s previous monthly dividend of $0.35. The ex-dividend date was Tuesday, December 16th. This represents a c) annualized dividend and a dividend yield of 4.7%. Macro Bank’s dividend payout ratio (DPR) is 194.57%.

Hedge Funds Weigh In On Macro Bank

Several hedge funds and other institutional investors have recently bought and sold shares of BMA. HighTower Advisors LLC purchased a new stake in shares of Macro Bank during the 1st quarter worth about $422,000. Vident Advisory LLC grew its stake in Macro Bank by 81.4% during the first quarter. Vident Advisory LLC now owns 4,835 shares of the bank’s stock worth $365,000 after buying an additional 2,169 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Macro Bank by 87.9% in the first quarter. Cubist Systematic Strategies LLC now owns 107,053 shares of the bank’s stock worth $8,084,000 after acquiring an additional 50,067 shares in the last quarter. Amundi purchased a new position in shares of Macro Bank in the 1st quarter valued at $1,576,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $43,227,000 after acquiring an additional 33,390 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on Macro Bank from $79.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group upgraded shares of Macro Bank to a “strong-buy” rating in a report on Monday, November 10th. Itau BBA Securities upgraded shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research report on Monday, October 27th. Hsbc Global Res lowered shares of Macro Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Finally, UBS Group started coverage on shares of Macro Bank in a report on Wednesday, November 19th. They issued a “buy” rating and a $130.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Macro Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

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.