Banco Macro S.A. (NYSE:BMA - Get Free Report)'s share price was up 5.6% on Thursday . The company traded as high as $75.02 and last traded at $74.92. Approximately 120,687 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 348,238 shares. The stock had previously closed at $70.95.
Several research analysts have issued reports on BMA shares. Bank of America upgraded Banco Macro from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $53.00 to $62.00 in a research report on Thursday, August 8th. StockNews.com lowered Banco Macro from a "buy" rating to a "hold" rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised Banco Macro from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $14.00 to $78.00 in a research report on Friday, August 30th.
View Our Latest Report on Banco Macro
The company has a market cap of $4.85 billion, a P/E ratio of 4.45 and a beta of 1.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.79. The business's fifty day moving average is $65.13 and its two-hundred day moving average is $59.36.
Banco Macro (NYSE:BMA - Get Free Report) last posted its quarterly earnings results 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). Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. The company had revenue of $1.03 billion for the quarter. During the same period in the previous year, the company earned $2.69 earnings per share. Equities analysts predict that Banco Macro S.A. will post 9.7 EPS for the current year.
The company also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a $1.798 dividend. This is an increase from Banco Macro's previous monthly dividend of $1.74. This represents a $21.58 annualized dividend and a dividend yield of 28.44%. The ex-dividend date was Friday, August 16th. Banco Macro's payout ratio is presently 127.41%.
A number of hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Banco Macro in the 1st quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank's stock worth $45,000 after buying an additional 387 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Banco Macro during the second quarter worth $51,000. Shilanski & Associates Inc. bought a new stake in Banco Macro during the 2nd quarter valued at $244,000. Finally, Claro Advisors LLC purchased a new position in shares of Banco Macro in the 1st quarter valued at $260,000.
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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