Candriam S.C.A. Sells 160,300 Shares of Macro Bank Inc. $BMA

Key Points

• Candriam S.C.A. reduced its stake in Macro Bank by 40.8% to approximately $17.59 million, after selling 160,300 shares during the first quarter.
• Macro Bank's latest earnings report revealed a disappointing EPS of $0.65, which significantly missed the consensus estimate of $1.76, alongside a revenue of $759.36 million.
• The stock currently has a consensus rating of "Hold" with a target price set at $62.17, according to analysts from Itau BBA Securities.

Candriam S.C.A. lowered its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 40.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,000 shares of the bank's stock after selling 160,300 shares during the quarter. Candriam S.C.A. owned 0.36% of Macro Bank worth $17,594,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BMA. Mariner LLC purchased a new position in Macro Bank during the fourth quarter valued at approximately $221,000. Tower Research Capital LLC TRC lifted its holdings in Macro Bank by 1,829.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock valued at $58,000 after purchasing an additional 567 shares in the last quarter. Stifel Financial Corp lifted its holdings in Macro Bank by 32.2% during the fourth quarter. Stifel Financial Corp now owns 15,682 shares of the bank's stock valued at $1,517,000 after purchasing an additional 3,822 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in Macro Bank by 123.2% during the fourth quarter. Hood River Capital Management LLC now owns 4,449 shares of the bank's stock valued at $430,000 after purchasing an additional 2,456 shares in the last quarter. Finally, Northern Trust Corp purchased a new position in Macro Bank during the fourth quarter valued at approximately $238,000.

Analyst Upgrades and Downgrades

Separately, Itau BBA Securities began coverage on shares of Macro Bank in a report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Macro Bank has an average rating of "Hold" and a consensus price target of $62.17.

Macro Bank Price Performance

Shares of BMA stock traded down $5.19 during mid-day trading on Monday, hitting $60.35. The company had a trading volume of 707,144 shares, compared to its average volume of 348,350. Macro Bank Inc. has a 52-week low of $51.40 and a 52-week high of $118.42. The stock's 50 day moving average price is $69.61 and its 200-day moving average price 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 company has a market capitalization of $3.86 billion, a P/E ratio of 5.26, a P/E/G ratio of 0.33 and a beta of 1.58.

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

Macro Bank Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a $0.3658 dividend. The ex-dividend date was Friday, August 15th. Macro Bank's payout ratio is currently 38.48%.

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.