Banco Macro (NYSE:BMA) Shares Down 5.2%

Banco Macro S.A. (NYSE:BMA) shares fell 5.2% during mid-day trading on Monday . The stock traded as low as $62.70 and last traded at $63.01. 105,974 shares were traded during trading, a decline of 71% from the average session volume of 362,919 shares. The stock had previously closed at $66.44.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Banco Macro from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. Finally, StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Stock Performance

The company has a market capitalization of $4.16 billion, a P/E ratio of 3.82 and a beta of 1.80. The business has a 50 day moving average of $58.95 and a 200 day moving average of $57.01. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14.

Banco Macro (NYSE:BMA) last posted its earnings results on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. The firm had revenue of $1.03 billion for the quarter. During the same period in the prior year, the company earned $2.69 EPS. On average, sell-side analysts predict that Banco Macro S.A. will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a $1.798 dividend. This is a boost from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a dividend yield of 33.19%. The ex-dividend date of this dividend was Friday, August 16th. Banco Macro’s dividend payout ratio (DPR) is presently 127.41%.

Institutional Trading of Banco Macro

Several hedge funds have recently made changes to their positions in the business. Candriam S.C.A. purchased a new position in Banco Macro in the second quarter worth about $43,236,000. Maple Rock Capital Partners Inc. bought a new stake in shares of Banco Macro in the 1st 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 purchasing an additional 64,400 shares during the period. Ping Capital Management Inc. purchased a new position in shares of Banco Macro in the 2nd quarter worth approximately $12,326,000. Finally, Fourth Sail Capital LP bought a new position in shares of Banco Macro during the 1st quarter valued at approximately $9,038,000.

Banco Macro 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.