Cambridge Investment Research Advisors Inc. Makes New Investment in Macro Bank Inc. (NYSE:BMA)

Cambridge Investment Research Advisors Inc. purchased a new position in Macro Bank Inc. (NYSE:BMA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,381 shares of the bank's stock, valued at approximately $557,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Insigneo Advisory Services LLC grew its holdings in shares of Macro Bank by 64.0% during the first quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank's stock worth $315,000 after buying an additional 1,629 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new stake in shares of Macro Bank during the first quarter worth $310,000. GAMMA Investing LLC grew its holdings in shares of Macro Bank by 31.3% during the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after buying an additional 245 shares in the last quarter. Wallace Advisory Group LLC purchased a new stake in shares of Macro Bank during the first quarter worth $157,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Macro Bank during the fourth quarter worth $920,000.

Macro Bank Trading Down 3.3%

Shares of BMA traded down $2.23 during mid-day trading on Friday, reaching $65.84. The stock had a trading volume of 467,148 shares, compared to its average volume of 319,937. 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 52-week low of $42.23 and a 52-week high of $118.42. The business's fifty day moving average is $79.93 and its 200 day moving average is $87.24. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 0.26 and a beta of 1.60.

Macro Bank (NYSE:BMA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.76 by ($1.11). Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. The firm had revenue of $759.36 million during the quarter, compared to analysts' expectations of $837.49 billion. On average, sell-side analysts predict that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.3985 per share. This represents a yield of 9.2%. The ex-dividend date of this dividend is Friday, July 18th. Macro Bank's dividend payout ratio (DPR) is presently 31.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BMA shares. JPMorgan Chase & Co. upped their target price on shares of Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Itau BBA Securities assumed coverage on shares of Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $62.13.

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.