Fundamenta Capital S.A. Takes $17.13 Million Position in Macro Bank Inc. $BMA

Key Points

• Fundamenta Capital S.A. bought 190,000 shares of Macro Bank (NYSE: BMA) in Q4 valued at approximately $17.13 million, making BMA about 11.7% of Fundamenta’s holdings and its 4th largest position (Fundamenta owns ~0.30% of Macro Bank).
• Macro Bank raised its monthly dividend to $0.4074 (annualized yield ~6.0% yield) with an ex-dividend date of April 20, though the dividend payout ratio is a high 146.2%, which may raise sustainability concerns.
• Analyst coverage is mixed—five Buys, one Hold and two Sells—yielding a MarketBeat consensus rating of “Hold” and a consensus target price of $102.60, while Goldman Sachs cut its price target to $98 but kept a “buy” rating.

Fundamenta Capital S.A. bought a new stake in Macro Bank Inc. (NYSE:BMA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 190,000 shares of the bank's stock, valued at approximately $17,130,000. Macro Bank accounts for about 11.7% of Fundamenta Capital S.A.'s holdings, making the stock its 4th largest position. Fundamenta Capital S.A. owned 0.30% of Macro Bank at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in shares of Macro Bank during the first quarter worth $704,000. Jones Financial Companies Lllp grew its stake in shares of Macro Bank by 271,350.0% during the first quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank's stock worth $410,000 after purchasing an additional 5,427 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Macro Bank by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank's stock worth $5,045,000 after purchasing an additional 21,613 shares during the period. Jane Street Group LLC grew its stake in shares of Macro Bank by 106.5% during the first quarter. Jane Street Group LLC now owns 13,705 shares of the bank's stock worth $1,035,000 after purchasing an additional 7,067 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Macro Bank by 14.6% during the second quarter. JPMorgan Chase & Co. now owns 79,947 shares of the bank's stock worth $5,613,000 after purchasing an additional 10,211 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMA. Wall Street Zen raised Macro Bank from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. Zacks Research cut Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. The Goldman Sachs Group decreased their price objective on Macro Bank from $111.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Macro Bank presently has an average rating of "Hold" and a consensus target price of $102.60.

Macro Bank Stock Performance

Shares of Macro Bank stock opened at $82.16 on Monday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. The stock's 50-day moving average is $78.42 and its 200-day moving average is $80.69. Macro Bank Inc. has a one year low of $38.30 and a one year high of $106.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.16.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The bank reported $0.11 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%. Equities analysts predict that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, April 20th will be issued a $0.4074 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. This is a positive change from Macro Bank's previous monthly dividend of $0.40. The ex-dividend date is Monday, April 20th. Macro Bank's dividend payout ratio is presently 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.

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