Amundi Buys New Shares in Macro Bank Inc. $BMA

Key Points

• Amundi has made a new investment in Macro Bank Inc. ($BMA), acquiring 21,124 shares valued at approximately $1.58 million during the first quarter.
• Macro Bank recently declared a monthly dividend of $0.3665, with an annualized yield of 10.1%, reflecting a boost from its previous dividend amount.
• Despite a strong revenue report of $834.78 million for the quarter, Macro Bank’s earnings per share missed analyst estimates, reporting $1.95 compared to the expected $1.99.

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp bought a new position in shares of Macro Bank during the fourth quarter valued at about $238,000. Bank of America Corp DE raised 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 valued at $642,000 after acquiring an additional 3,205 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Macro Bank by 31.2% during the fourth quarter. Cetera Investment Advisers now owns 9,215 shares of the bank's stock valued at $892,000 after acquiring an additional 2,194 shares during the last quarter. Vident Advisory LLC bought a new position in shares of Macro Bank during the fourth quarter valued at about $258,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Macro Bank during the fourth quarter valued at about $920,000.

Macro Bank Stock Down 7.0%

Shares of NYSE BMA traded down $3.04 on Thursday, reaching $40.39. 1,423,249 shares of the company's stock traded hands, compared to its average volume of 697,865. Macro Bank Inc. has a 12 month low of $39.25 and a 12 month high of $118.42. The business's 50 day simple moving average is $62.39 and its two-hundred day simple moving average is $74.71. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 3.54, a price-to-earnings-growth ratio of 0.64 and a beta of 1.68. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 EPS 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 firm had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. As a group, equities research analysts forecast that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 19th will be issued a $0.3665 dividend. This is an increase from Macro Bank's previous monthly dividend of $0.37. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date is Friday, September 19th. Macro Bank's dividend payout ratio is 38.48%.

Wall Street Analyst Weigh In

BMA has been the subject of a number of research reports. Citigroup downgraded shares of Macro Bank from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Zacks Research downgraded shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Macro Bank currently has an average rating of "Hold" and an average target price 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.