Banco Macro (NYSE:BMA) Reaches New 1-Year High - What's Next?

Banco Macro S.A. (NYSE:BMA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $77.76 and last traded at $77.76, with a volume of 375 shares trading hands. The stock had previously closed at $76.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BMA shares. Bank of America raised Banco Macro from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $53.00 to $62.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Banco Macro from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $14.00 to $78.00 in a research report on Friday, August 30th. Finally, StockNews.com lowered shares of Banco Macro from a "buy" rating to a "hold" rating in a research report on Thursday, September 26th.

Banco Macro Price Performance

The company's 50 day simple moving average is $65.48 and its two-hundred day simple moving average is $59.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.77. The stock has a market capitalization of $5.08 billion, a P/E ratio of 4.65 and a beta of 1.80.

Banco Macro (NYSE:BMA - Get Free Report) last announced its earnings results on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. The business had revenue of $1.03 billion for the quarter. During the same quarter in the previous year, the firm earned $2.69 EPS. As a group, equities analysts expect that Banco Macro S.A. will post 9.7 EPS for the current fiscal year.

Banco Macro Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were given a $1.798 dividend. This represents a $21.58 dividend on an annualized basis and a yield of 27.17%. This is a positive change from Banco Macro's previous monthly dividend of $1.74. The ex-dividend date was Friday, August 16th. Banco Macro's dividend payout ratio (DPR) is presently 127.41%.

Hedge Funds Weigh In On Banco Macro

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in Banco Macro in the first quarter valued at about $33,000. Blue Trust Inc. increased its stake in Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank's stock valued at $45,000 after purchasing an additional 387 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Banco Macro in the second quarter worth $51,000. Shilanski & Associates Inc. acquired a new stake in Banco Macro in the second quarter worth $244,000. Finally, Claro Advisors LLC bought a new position in shares of Banco Macro during the first quarter worth $260,000.

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.