Banco Macro (NYSE:BMA) Reaches New 12-Month High at $70.17

Banco Macro S.A. (NYSE:BMA) reached a new 52-week high on Monday . The stock traded as high as $70.17 and last traded at $69.74, with a volume of 43285 shares trading hands. The stock had previously closed at $67.76.

Analyst Ratings Changes

BMA has been the topic of a number of recent research reports. Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. StockNews.com raised Banco Macro from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Banco Macro from an “underweight” rating to a “neutral” rating and upped their target price for the company from $14.00 to $78.00 in a research note on Friday, August 30th.

Banco Macro Price Performance

The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 4.15 and a beta of 1.80. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $55.96 and its 200-day moving average is $55.02.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($5.50). The company had revenue of $1.03 billion during the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. During the same quarter in the prior year, the company posted $2.69 EPS. Equities research analysts expect that Banco Macro S.A. will post 9.7 earnings per share for the current fiscal year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a dividend of $1.798 per share. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 annualized dividend and a yield of 30.43%. The ex-dividend date was Friday, August 16th. Banco Macro’s dividend payout ratio is currently 127.41%.

Institutional Investors Weigh In On Banco Macro

Several institutional investors and hedge funds have recently made changes to their positions in BMA. Candriam S.C.A. bought a new position in Banco Macro during the 2nd quarter valued at about $43,236,000. Maple Rock Capital Partners Inc. bought a new position in shares of Banco Macro in the first quarter valued at approximately $23,994,000. Duquesne Family Office LLC boosted its holdings in shares of Banco Macro by 30.9% in the 2nd quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after acquiring an additional 64,400 shares in the last quarter. Ping Capital Management Inc. bought a new stake in Banco Macro during the 2nd quarter worth approximately $12,326,000. Finally, Fourth Sail Capital LP acquired a new stake in Banco Macro during the 1st quarter valued at $9,038,000.

About Banco Macro

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 (ATMs), and money transfers.