GAMMA Investing LLC Has $53,000 Stake in Macro Bank Inc. $BMA

GAMMA Investing LLC lessened its holdings in shares of Macro Bank Inc. (NYSE:BMA) by 27.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 749 shares of the bank’s stock after selling 280 shares during the period. GAMMA Investing LLC’s holdings in Macro Bank were worth $53,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Macro Bank by 93.5% during the fourth 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 during the period. ABS Direct Equity Fund LLC acquired a new position in shares of Macro Bank during the 1st quarter worth about $310,000. Insigneo Advisory Services LLC grew its position in shares of Macro Bank by 64.0% during the 1st quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank’s stock worth $315,000 after buying an additional 1,629 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Macro Bank during the 1st quarter worth about $557,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the first quarter valued at approximately $31,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMA. Citigroup lowered shares of Macro Bank from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Hsbc Global Res raised Macro Bank to a “strong-buy” rating in a research note on Wednesday. Zacks Research cut Macro Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Macro Bank in a research note on Saturday, September 27th. Finally, HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and decreased their price objective for the company from $104.00 to $80.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.63.

Macro Bank Trading Up 2.7%

NYSE BMA opened at $43.04 on Friday. The company has a market cap of $2.75 billion, a PE ratio of 3.77, a PEG ratio of 0.80 and a beta of 1.54. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $57.54 and a 200-day moving average of $71.73. Macro Bank Inc. has a 12 month low of $38.30 and a 12 month high of $118.42.

Macro Bank (NYSE:BMA) last issued 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 10.99%. The firm had revenue of $834.78 million during the quarter, compared to analyst estimates of $752.51 million. On average, equities research analysts anticipate that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 19th were issued a dividend of $0.3665 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a c) annualized dividend and a yield of 10.2%. This is a positive change from Macro Bank’s previous monthly dividend of $0.37. Macro Bank’s payout ratio is 38.56%.

Macro Bank 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.