Allspring Global Investments Holdings LLC Sells 21,634 Shares of Macro Bank Inc. $BMA

Key Points

• Allspring Global Investments cut its Macro Bank stake by 49.2% in the first quarter, selling 21,634 shares and ending with 22,324 shares valued at about $1.73 million.
• Several other hedge funds were buying, with PointState Capital, Millennium Management, and Aquamarine Financial all significantly increasing their positions in Macro Bank.
• Analyst sentiment has turned more positive: JPMorgan raised its target to $132, and the stock now carries an average Buy rating with a consensus target price of $111.25.

Allspring Global Investments Holdings LLC lessened its position in Macro Bank Inc. (NYSE:BMA - Free Report) by 49.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,324 shares of the bank's stock after selling 21,634 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Macro Bank were worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. PointState Capital LP grew its stake in Macro Bank by 266.9% in the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank's stock worth $77,311,000 after purchasing an additional 623,755 shares during the period. Millennium Management LLC lifted its position in Macro Bank by 100.7% during the third quarter. Millennium Management LLC now owns 575,206 shares of the bank's stock valued at $24,325,000 after buying an additional 288,614 shares during the period. Aquamarine Financial Cayman Ltd lifted its position in Macro Bank by 23.8% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 564,501 shares of the bank's stock valued at $50,895,000 after buying an additional 108,540 shares during the period. Cape Ann Asset Management Ltd boosted its holdings in shares of Macro Bank by 0.8% during the 4th quarter. Cape Ann Asset Management Ltd now owns 465,016 shares of the bank's stock valued at $41,926,000 after buying an additional 3,800 shares in the last quarter. Finally, Fundamenta Capital S.A. bought a new stake in shares of Macro Bank during the 4th quarter valued at $17,130,000.

Analyst Ratings Changes

BMA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Macro Bank from $120.00 to $132.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. HSBC raised shares of Macro Bank from a "hold" rating to a "buy" rating and set a $85.00 price target for the company in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Zacks Research raised shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Macro Bank from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $111.25.

Macro Bank Stock Down 2.8%

NYSE:BMA opened at $89.06 on Friday. The firm has a market cap of $5.69 billion, a P/E ratio of 21.06, a P/E/G ratio of 0.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.08. Macro Bank Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $106.15. The firm has a 50-day simple moving average of $89.64 and a two-hundred day simple moving average of $84.86.

Macro Bank (NYSE:BMA - Get Free Report) last issued its earnings results on Thursday, May 28th. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.31. The business had revenue of $412.19 million during the quarter, compared to analysts' expectations of $837.75 million. Macro Bank had a net margin of 5.81% and a return on equity of 8.42%. Analysts predict that Macro Bank Inc. will post 5.2 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, June 2nd were given a dividend of $0.5296 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a c) annualized dividend and a dividend yield of 7.1%. Macro Bank's dividend payout ratio (DPR) is 128.84%.

Macro Bank Profile

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

Want to see what other hedge funds are holding BMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macro Bank Inc. (NYSE:BMA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.