HighTower Advisors LLC Takes Position in Macro Bank Inc. $BMA

HighTower Advisors LLC purchased a new stake in shares of Macro Bank Inc. (NYSE:BMA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,584 shares of the bank’s stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMA. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC boosted its position in Macro Bank by 1,829.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock valued at $58,000 after purchasing an additional 567 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock valued at $59,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC boosted its position in Macro Bank by 31.3% during the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock valued at $78,000 after purchasing an additional 245 shares during the last quarter. Finally, Wallace Advisory Group LLC acquired a new position in Macro Bank during the first quarter valued at approximately $157,000.

Macro Bank Stock Performance

Shares of BMA opened at $58.14 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $68.26 and a two-hundred day moving average price of $78.36. The firm has a market capitalization of $3.72 billion, a P/E ratio of 5.10, a P/E/G ratio of 0.63 and a beta of 1.69. Macro Bank Inc. has a 52 week low of $52.33 and a 52 week high of $118.42.

Macro Bank (NYSE:BMA) last released its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.04). Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. The business had revenue of $834.78 million during the quarter, compared to the consensus estimate of $752.51 million. Equities analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a $0.3658 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Friday, August 15th. Macro Bank’s dividend payout ratio (DPR) is 38.48%.

Analysts Set New Price Targets

Separately, Itau BBA Securities began coverage on Macro Bank in a report on Tuesday, May 20th. They issued a “market perform” rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.17.

Macro Bank 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.