Banco Macro (NYSE:BMA) Trading Up 5.6% - Should You Buy?

Banco Macro S.A. (NYSE:BMA - Get Free Report) shares were up 5.6% during mid-day trading on Thursday . The stock traded as high as $75.02 and last traded at $74.92. Approximately 120,687 shares traded 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.

Wall Street Analysts Forecast Growth

Several 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 note 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. upgraded Banco Macro from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $14.00 to $78.00 in a research note on Friday, August 30th.

Banco Macro Stock Performance

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 company has a market capitalization of $4.92 billion, a P/E ratio of 4.54 and a beta of 1.80. The business has a 50 day moving average of $65.48 and a 200-day moving average of $59.48.

Banco Macro (NYSE:BMA - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share (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 company had revenue of $1.03 billion for the quarter. During the same quarter last year, the firm posted $2.69 EPS. On average, sell-side analysts predict that Banco Macro S.A. will post 9.7 EPS for the current fiscal year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were paid a dividend of $1.798 per share. This represents a $21.58 dividend on an annualized basis and a dividend yield of 28.05%. 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 payout ratio is presently 127.41%.

Hedge Funds Weigh In On Banco Macro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in Banco Macro during the first quarter worth about $33,000. Blue Trust Inc. grew its position 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Banco Macro during the second quarter worth about $51,000. Shilanski & Associates Inc. purchased a new position in Banco Macro during the second quarter worth about $244,000. Finally, Claro Advisors LLC purchased a new position in Banco Macro during the first quarter worth about $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.