Goldman Sachs Group Inc. Buys 21,613 Shares of Macro Bank Inc. $BMA

Key Points

• Goldman Sachs Group Inc. increased its ownership in Macro Bank Inc. by 47.8% during the first quarter, acquiring an additional 21,613 shares for a total of 66,816 shares worth approximately $5,045,000.
• Macro Bank has received mixed ratings from analysts, with one "Buy," three "Hold," and one "Sell," leading to an average price target of $62.17.
• The bank recently announced a slight increase in its monthly dividend to $0.3665 per share, yielding about 10.0% annually.

Goldman Sachs Group Inc. grew its stake in Macro Bank Inc. (NYSE:BMA - Free Report) by 47.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,816 shares of the bank's stock after acquiring an additional 21,613 shares during the quarter. Goldman Sachs Group Inc. owned 0.10% of Macro Bank worth $5,045,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Shilanski & Associates Inc. boosted its holdings in Macro Bank by 2.4% in the first quarter. Shilanski & Associates Inc. now owns 4,773 shares of the bank's stock worth $360,000 after acquiring an additional 112 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after acquiring an additional 124 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 245 shares in the last quarter. Freedom Investment Management Inc. boosted its holdings in Macro Bank by 6.1% in the first quarter. Freedom Investment Management Inc. now owns 6,539 shares of the bank's stock worth $494,000 after acquiring an additional 375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Macro Bank in the first quarter worth $31,000.

Analysts Set New Price Targets

Several equities research analysts have commented on BMA shares. Citigroup downgraded Macro Bank from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Zacks Research downgraded Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Finally, Itau BBA Securities initiated coverage on 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 equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.17.

Macro Bank Stock Up 3.4%

Shares of BMA opened at $43.91 on Wednesday. The business's 50 day moving average is $63.49 and its 200 day moving average is $75.22. The company has a market capitalization of $2.81 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 0.63 and a beta of 1.68. Macro Bank Inc. has a 12-month low of $42.17 and a 12-month high of $118.42. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Macro Bank (NYSE:BMA - Get Free Report) last issued its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 8.32% and a return on equity of 10.94%. Research analysts expect that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 19th will be paid a dividend of $0.3665 per share. This is a boost from Macro Bank's previous monthly dividend of $0.37. The ex-dividend date of this dividend is Friday, September 19th. This represents a c) annualized dividend and a yield of 10.0%. Macro Bank's dividend payout ratio is 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.

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