Macro Bank (NYSE:BMA) Posts Earnings Results, Misses Estimates By $1.06 EPS
Macro Bank (NYSE:BMA) reported a quarterly EPS of ($0.39), missing analysts' estimates by $1.06. The bank's net margin was 8.32% with a return on equity of 10.99%. Despite the earnings miss, the stock rose to $82.57. The bank increased its monthly dividend to $0.3486 per share. Analysts have mixed ratings on the stock, with a consensus rating of 'Buy' and an average price target of $85.50.
Macro Bank (NYSE:BMA - Get Free Report) released its quarterly earnings results on Wednesday. The bank reported ($0.39) earnings per share (EPS) 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 Stock Performance
NYSE BMA traded up $6.08 during trading hours on Wednesday, reaching $82.57. The company's stock had a trading volume of 851,958 shares, compared to its average volume of 481,322. 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 has a 50-day simple moving average of $63.41 and a 200 day simple moving average of $68.36. Macro Bank has a 52 week low of $38.30 and a 52 week high of $118.42. The stock has a market cap of $5.28 billion, a PE ratio of 20.09, a PEG ratio of 1.59 and a beta of 1.57.
Macro Bank Increases Dividend
The firm also recently disclosed a monthly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were paid a dividend of $0.3486 per share. This represents a c) annualized dividend and a yield of 5.1%. This is a positive change from Macro Bank's previous monthly dividend of $0.31. The ex-dividend date was Monday, November 17th. Macro Bank's dividend payout ratio (DPR) is currently 101.70%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on BMA shares. Zacks Research upgraded Macro Bank from a "strong sell" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Macro Bank from $79.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Macro Bank in a research report on Wednesday, October 8th. The Goldman Sachs Group raised Macro Bank to a "strong-buy" rating in a research report on Monday, November 10th. Finally, UBS Group began coverage on Macro Bank in a research note on Wednesday, November 19th. They issued a "buy" rating and a $130.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Macro Bank has a consensus rating of "Buy" and an average price target of $85.50.
Get Our Latest Research Report on BMA
Institutional Trading of Macro Bank
Several hedge funds have recently made changes to their positions in the stock. HUB Investment Partners LLC grew its stake in Macro Bank by 13.4% during the 2nd quarter. HUB Investment Partners LLC now owns 3,828 shares of the bank's stock worth $269,000 after buying an additional 452 shares during the last quarter. Advisory Services Network LLC bought a new position in Macro Bank in the 3rd quarter valued at about $46,000. Qube Research & Technologies Ltd grew its position in Macro Bank by 1.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 85,228 shares of the bank's stock valued at $5,984,000 after buying an additional 1,160 shares in the last quarter. Van ECK Associates Corp acquired a new position in Macro Bank during the 3rd quarter valued at about $72,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Macro Bank during the 3rd quarter worth about $151,000.
About Macro Bank
(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.
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