Amundi Makes New $1.58 Million Investment in Macro Bank Inc. $BMA

Amundi acquired a new position in Macro Bank Inc. (NYSE:BMA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 21,124 shares of the bank’s stock, valued at approximately $1,576,000.

Several other institutional investors also recently bought and sold shares of BMA. Northern Trust Corp acquired a new stake in Macro Bank in the 4th quarter worth about $238,000. Bank of America Corp DE lifted its stake in Macro Bank by 93.5% in the 4th quarter. Bank of America Corp DE now owns 6,631 shares of the bank’s stock worth $642,000 after purchasing an additional 3,205 shares in the last quarter. Cetera Investment Advisers lifted its stake in Macro Bank by 31.2% in the 4th quarter. Cetera Investment Advisers now owns 9,215 shares of the bank’s stock worth $892,000 after purchasing an additional 2,194 shares in the last quarter. Vident Advisory LLC purchased a new position in Macro Bank in the 4th quarter worth approximately $258,000. Finally, Voloridge Investment Management LLC purchased a new position in Macro Bank in the 4th quarter worth approximately $920,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Itau BBA Securities assumed coverage on shares of Macro Bank in a research report on Tuesday, May 20th. They set a “market perform” rating and a $85.00 price target on the stock. Citigroup reiterated a “neutral” rating on shares of Macro Bank in a report on Thursday. Finally, Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.17.

Macro Bank Stock Performance

Shares of BMA stock opened at $43.72 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $64.50 and a 200 day moving average price of $75.84. The company has a market cap of $2.79 billion, a P/E ratio of 3.83, a PEG ratio of 0.68 and a beta of 1.68. Macro Bank Inc. has a 12 month low of $42.70 and a 12 month high of $118.42.

Macro Bank (NYSE:BMA) last announced 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). Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. The company had revenue of $834.78 million during the quarter, compared to analysts’ expectations of $752.51 million. Sell-side analysts predict that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 19th will be given a $0.3665 dividend. This represents a c) dividend on an annualized basis and a yield of 10.1%. This is a boost from Macro Bank’s previous monthly dividend of $0.37. The ex-dividend date of this dividend is Friday, September 19th. Macro Bank’s dividend payout ratio is presently 38.48%.

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.