Beverly Hills Private Wealth LLC Sells 190 Shares of Macro Bank Inc. $BMA

Beverly Hills Private Wealth LLC lessened its holdings in shares of Macro Bank Inc. (NYSE:BMAFree Report) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,070 shares of the bank’s stock after selling 190 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Macro Bank were worth $286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Macro Bank during the 1st quarter worth approximately $31,000. SBI Securities Co. Ltd. boosted its holdings in shares of Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock valued at $59,000 after buying an additional 124 shares during the period. GAMMA Investing LLC increased its position in shares of Macro Bank by 31.3% during the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock worth $78,000 after acquiring an additional 245 shares in the last quarter. Burns Matteson Capital Management LLC raised its holdings in shares of Macro Bank by 30.4% during the first quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank’s stock worth $202,000 after acquiring an additional 624 shares during the period. Finally, Deuterium Capital Management LLC bought a new stake in Macro Bank in the 1st quarter valued at $218,000.

Macro Bank Stock Performance

BMA opened at $53.09 on Wednesday. The business’s 50-day simple moving average is $52.31 and its 200 day simple moving average is $69.36. Macro Bank Inc. has a 52-week low of $38.30 and a 52-week high of $118.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $3.39 billion, a PE ratio of 4.65, a PEG ratio of 0.98 and a beta of 1.54.

Macro Bank (NYSE:BMAGet Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). The company had revenue of $834.78 million during the quarter, compared to the consensus estimate of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. As a group, sell-side analysts expect that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 20th will be issued a dividend of $0.3051 per share. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Monday, October 20th. Macro Bank’s payout ratio is presently 32.08%.

Analysts Set New Price Targets

BMA has been the subject of a number of research analyst reports. Hsbc Global Res raised shares of Macro Bank to a “strong-buy” rating in a research note on Wednesday, October 1st. Citigroup cut Macro Bank from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Macro Bank in a report on Wednesday, October 8th. Zacks Research lowered Macro Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Finally, HSBC raised Macro Bank from a “hold” rating to a “buy” rating and reduced their price target for the stock from $104.00 to $80.00 in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.63.

Read Our Latest Research Report on BMA

About Macro Bank

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Macro Bank (NYSE:BMA)

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