Duquesne Family Office LLC Sells 53,615 Shares of Macro Bank Inc. $BMA

Key Points

• Duquesne Family Office LLC reduced its stake in Macro Bank Inc. by 11% during the first quarter, holding 431,815 shares valued at approximately $32.61 million as of the latest SEC filing.
• Research analysts have a consensus rating of "Hold" on Macro Bank, with price targets ranging from a buy rating to a downgrade to "strong sell."
• Macro Bank reported earnings of $1.95 per share, falling short of the expected $1.99, and announced a monthly dividend yield of 7.8%.

Duquesne Family Office LLC decreased its position in Macro Bank Inc. (NYSE:BMA - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 431,815 shares of the bank's stock after selling 53,615 shares during the quarter. Duquesne Family Office LLC owned approximately 0.68% of Macro Bank worth $32,606,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank in the 1st quarter valued at $31,000. Tower Research Capital LLC TRC grew its position 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 purchasing an additional 567 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock valued at $59,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Macro Bank by 31.3% in the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after purchasing an additional 245 shares during the period. Finally, Wallace Advisory Group LLC acquired a new position in shares of Macro Bank during the 1st quarter worth about $157,000.

Macro Bank Stock Performance

Macro Bank stock traded up $0.72 on Friday, hitting $58.94. The company's stock had a trading volume of 488,349 shares, compared to its average volume of 407,704. Macro Bank Inc. has a one year low of $54.53 and a one year high of $118.42. The firm has a market cap of $3.77 billion, a P/E ratio of 5.17, a price-to-earnings-growth ratio of 0.64 and a beta of 1.68. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $66.94 and a 200-day moving average price of $77.28.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $1.99 by ($0.04). The business had revenue of $834.78 million for the quarter, compared to the consensus estimate of $752.51 million. Macro Bank had a return on equity of 10.94% and a net margin of 8.32%. On average, equities analysts anticipate that Macro Bank Inc. will post 7.84 earnings per share for the current year.

Macro Bank Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.3658 per share. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Friday, August 15th. Macro Bank's payout ratio is presently 38.48%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMA. Itau BBA Securities started coverage on Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 target price on the stock. Zacks Research lowered shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.