Axiom Investors LLC DE Sells 263,112 Shares of 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 decreased its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 86.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,871 shares of the bank's stock after selling 263,112 shares during the quarter. Axiom Investors LLC DE owned about 0.06% of Macro Bank worth $3,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Macro Bank by 6.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock valued at $43,227,000 after acquiring an additional 33,390 shares in the last quarter. PointState Capital LP increased its holdings in shares of Macro Bank by 25.1% during the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank's stock valued at $32,804,000 after acquiring an additional 68,096 shares in the last quarter. Gemsstock Ltd. increased its holdings in shares of Macro Bank by 30.3% during the first quarter. Gemsstock Ltd. now owns 206,725 shares of the bank's stock valued at $15,610,000 after acquiring an additional 48,100 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Macro Bank by 87.9% during the first quarter. Cubist Systematic Strategies LLC now owns 107,053 shares of the bank's stock valued at $8,084,000 after acquiring an additional 50,067 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Macro Bank by 9,810.7% during the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock valued at $5,867,000 after acquiring an additional 76,916 shares in the last quarter.

Macro Bank Stock Performance

Shares of NYSE BMA traded down $2.46 during trading on Friday, reaching $43.72. 869,108 shares of the stock traded hands, compared to its average volume of 682,090. Macro Bank Inc. has a 52-week low of $42.70 and a 52-week high of $118.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average of $64.50 and a 200-day moving average of $75.73. The stock has a market capitalization of $2.79 billion, a P/E ratio of 3.83, a price-to-earnings-growth ratio of 0.65 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) last issued 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. Analysts forecast that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on BMA shares. Citigroup reiterated a "neutral" rating on shares of Macro Bank in a report on Thursday. Zacks Research downgraded Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Finally, Itau BBA Securities started coverage on Macro Bank in a report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price target for the company. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.17.

About Macro Bank

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.