Banco BTG Pactual S.A. Acquires 38,200 Shares of Macro Bank Inc. $BMA

Key Points

• Banco BTG Pactual S.A. significantly increased its stake in Macro Bank Inc. by 868.2%, acquiring an additional 38,200 shares, bringing its total holdings to approximately $3.2 million.
• Macro Bank recently reported earnings per share (EPS) of $0.65 for the quarter, missing expectations by $1.11, and had a revenue of $759.36 million, also below projections.
• The bank announced a dividend cut and declared a $0.3658 dividend, with an ex-dividend date set for August 15th, reflecting a payout ratio of 38.48%.

Banco BTG Pactual S.A. grew its holdings in Macro Bank Inc. (NYSE:BMA - Free Report) by 868.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,600 shares of the bank's stock after buying an additional 38,200 shares during the quarter. Banco BTG Pactual S.A. owned approximately 0.07% of Macro Bank worth $3,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMA. Mariner LLC acquired a new stake in shares of Macro Bank in the fourth quarter valued at $221,000. Tower Research Capital LLC TRC increased its stake in shares of Macro Bank by 1,829.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock valued at $58,000 after buying an additional 567 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Macro Bank by 32.2% in the fourth quarter. Stifel Financial Corp now owns 15,682 shares of the bank's stock valued at $1,517,000 after buying an additional 3,822 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of Macro Bank by 123.2% in the fourth quarter. Hood River Capital Management LLC now owns 4,449 shares of the bank's stock valued at $430,000 after buying an additional 2,456 shares in the last quarter. Finally, Northern Trust Corp acquired a new stake in shares of Macro Bank in the fourth quarter valued at $238,000.

Macro Bank Trading Down 6.6%

BMA traded down $4.3070 during mid-day trading on Monday, hitting $61.2330. The stock had a trading volume of 403,678 shares, compared to its average volume of 346,869. The stock's fifty day simple moving average is $69.61 and its 200-day simple moving average is $79.53. 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 firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 5.36, a price-to-earnings-growth ratio of 0.33 and a beta of 1.58. Macro Bank Inc. has a 1-year low of $51.40 and a 1-year high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($1.11). The firm had revenue of $759.36 million during the quarter, compared to analyst estimates of $837.49 billion. Macro Bank had a return on equity of 1.50% and a net margin of 1.12%. As a group, research analysts forecast that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.3658 per share. The ex-dividend date was Friday, August 15th. Macro Bank's payout ratio is 38.48%.

Analysts Set New Price Targets

Separately, Itau BBA Securities began coverage on Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 target price for the company. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.