Deprince Race & Zollo Inc. Takes $3.83 Million Position in Macro Bank Inc. $BMA

Key Points

• Deprince Race & Zollo Inc. purchased 42,526 shares of Macro Bank (NYSE: BMA) in the fourth quarter—about a $3.83 million new stake, representing roughly 0.07% of the company—while other institutional investors (notably Qube Research) also modestly increased holdings.
• Analyst coverage is mixed: the stock's consensus rating is "Hold" with an average price target of $102.60, amid recent moves such as Goldman Sachs cutting its target to $98 and HSBC downgrading to Hold.
• Macro Bank recently raised its monthly dividend to $0.4007 (implying a ~5.9% yield), although the payout ratio is high at about 146%, and the company trades with a market cap near $5.18 billion and a P/E of 24.6.

Deprince Race & Zollo Inc. purchased a new stake in shares of Macro Bank Inc. (NYSE:BMA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 42,526 shares of the bank's stock, valued at approximately $3,834,000. Deprince Race & Zollo Inc. owned about 0.07% of Macro Bank at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. HUB Investment Partners LLC raised its holdings in shares of Macro Bank by 13.4% during the second quarter. HUB Investment Partners LLC now owns 3,828 shares of the bank's stock valued at $269,000 after buying an additional 452 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of Macro Bank by 9.1% during the third quarter. Insigneo Advisory Services LLC now owns 10,473 shares of the bank's stock valued at $443,000 after buying an additional 870 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Macro Bank during the third quarter valued at approximately $46,000. Qube Research & Technologies Ltd raised its holdings in shares of Macro Bank by 1.4% during the second quarter. Qube Research & Technologies Ltd now owns 85,228 shares of the bank's stock valued at $5,984,000 after buying an additional 1,160 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Macro Bank by 46.8% during the third quarter. Quantbot Technologies LP now owns 4,856 shares of the bank's stock valued at $205,000 after buying an additional 1,548 shares during the last quarter.

Wall Street Analysts Forecast Growth

BMA has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Macro Bank from $111.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. HSBC lowered shares of Macro Bank from a "buy" rating to a "hold" rating and set a $80.00 price objective on the stock. in a research note on Monday, December 15th. Zacks Research lowered shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Macro Bank from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Macro Bank in a research note on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $102.60.

Macro Bank Price Performance

NYSE BMA opened at $81.01 on Tuesday. The stock has a market capitalization of $5.18 billion, a P/E ratio of 24.62, a P/E/G ratio of 0.62 and a beta of 1.52. Macro Bank Inc. has a 1 year low of $38.30 and a 1 year high of $106.15. The business's fifty day moving average is $79.37 and its two-hundred day moving average is $79.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.16 and a current ratio of 1.11.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The bank reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $312.24 million for the quarter. Macro Bank had a return on equity of 6.85% and a net margin of 4.99%. On average, research analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 20th were issued a $0.4007 dividend. This is an increase from Macro Bank's previous monthly dividend of $0.38. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, March 20th. Macro Bank's dividend payout ratio is currently 146.20%.

Macro Bank Profile

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.