Axiom Investors LLC DE Trims Position in Macro Bank Inc. $BMA

Key Points

• Axiom Investors LLC DE has reduced its stake in Macro Bank Inc. by 86.8%, selling over 263,000 shares in the first quarter, leaving it with about 39,871 shares valued at $3 million.
• Macro Bank's shares have dropped 23.2%, with a current price of $45.22, significantly down from a one-year high of $118.42.
• The company recently reported quarterly earnings of $1.95 per share, missing estimates by $0.04, despite revenue exceeding consensus expectations.

Axiom Investors LLC DE lessened its stake in Macro Bank Inc. (NYSE:BMA - Free Report) by 86.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,871 shares of the bank's stock after selling 263,112 shares during the period. Axiom Investors LLC DE owned 0.06% of Macro Bank worth $3,011,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Macro Bank by 11.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank's stock worth $4,271,000 after buying an additional 5,629 shares during the period. GAMMA Investing LLC increased its stake in Macro Bank by 9,810.7% in the 1st quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock worth $5,867,000 after buying an additional 76,916 shares during the period. ABS Direct Equity Fund LLC purchased a new position in Macro Bank in the 1st quarter worth about $310,000. Cambridge Investment Research Advisors Inc. purchased a new position in Macro Bank in the 1st quarter worth about $557,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Macro Bank in the 1st quarter worth about $31,000.

Analysts Set New Price Targets

Several research firms recently commented on BMA. Itau BBA Securities began coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price target on the stock. Zacks Research cut 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, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Macro Bank currently has an average rating of "Hold" and a consensus price target of $62.17.

Macro Bank Stock Down 23.2%

Shares of Macro Bank stock opened at $45.22 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. Macro Bank Inc. has a 1 year low of $44.74 and a 1 year high of $118.42. The firm's 50-day moving average is $66.44 and its two-hundred day moving average is $76.86. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 0.64 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) 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 return on equity of 10.94% and a net margin of 8.32%.The business had revenue of $834.78 million for the quarter, compared to the consensus estimate of $752.51 million. As a group, research analysts expect that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were issued a $0.3658 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Friday, August 15th. Macro Bank's dividend payout ratio (DPR) is currently 38.48%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.