Mirae Asset Global Investments Co. Ltd. Sells 102,383 Shares of Banco Macro S.A. (NYSE:BMA)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Banco Macro S.A. (NYSE:BMAFree Report) by 49.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,561 shares of the bank’s stock after selling 102,383 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Banco Macro were worth $5,134,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BMA. Penserra Capital Management LLC acquired a new position in shares of Banco Macro during the third quarter valued at about $364,000. Purus Wealth Management LLC bought a new stake in shares of Banco Macro during the fourth quarter valued at approximately $230,000. Allspring Global Investments Holdings LLC bought a new position in Banco Macro in the fourth quarter worth $1,462,000. Glenorchy Capital Ltd acquired a new stake in Banco Macro during the fourth quarter worth $2,217,000. Finally, Capital Wealth Planning LLC increased its holdings in Banco Macro by 42.2% in the 4th quarter. Capital Wealth Planning LLC now owns 26,292 shares of the bank’s stock valued at $755,000 after buying an additional 7,806 shares during the period.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Banco Macro from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 15th.

Read Our Latest Analysis on Banco Macro

Banco Macro Price Performance

Banco Macro stock opened at $56.11 on Thursday. Banco Macro S.A. has a 52-week low of $17.30 and a 52-week high of $68.24. The company has a current ratio of 0.77, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $60.21 and a two-hundred day moving average price of $46.24.

Banco Macro (NYSE:BMAGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The bank reported $5.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $2.83. The firm had revenue of $1.87 billion during the quarter. Banco Macro had a net margin of 16.33% and a return on equity of 37.91%. On average, equities research analysts anticipate that Banco Macro S.A. will post 11.83 earnings per share for the current year.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 17th were given a $1.742 dividend. This is an increase from Banco Macro’s previous monthly dividend of $0.43. The ex-dividend date was Monday, June 17th. This represents a $20.90 annualized dividend and a yield of 37.26%. Banco Macro’s payout ratio is presently 123.45%.

About Banco Macro

(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 (ATMs), and money transfers.

See Also

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

Receive News & Ratings for Banco Macro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Macro and related companies with MarketBeat.com's FREE daily email newsletter.