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

A number of other large investors also recently modified their holdings of the stock. Shilanski & Associates Inc. lifted its holdings in shares of Macro Bank by 2.4% in the first quarter. Shilanski & Associates Inc. now owns 4,773 shares of the bank's stock valued at $360,000 after purchasing an additional 112 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings 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 in the last quarter. GAMMA Investing LLC lifted its holdings 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 valued at $78,000 after purchasing an additional 245 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Macro Bank by 6.1% in the first quarter. Freedom Investment Management Inc. now owns 6,539 shares of the bank's stock valued at $494,000 after purchasing an additional 375 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Macro Bank in the first quarter valued at approximately $31,000.

Macro Bank Trading Down 2.8%

BMA traded down $1.14 during midday trading on Friday, reaching $39.29. 846,097 shares of the company's stock traded hands, compared to its average volume of 755,938. Macro Bank Inc. has a 52 week low of $38.30 and a 52 week high of $118.42. The firm has a fifty day moving average of $61.86 and a two-hundred day moving average of $74.42. 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 stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 3.44, a P/E/G ratio of 0.60 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) last posted its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $1.99 by ($0.04). Macro Bank had a return on equity of 10.94% and a net margin of 8.32%.The firm had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. On average, equities analysts anticipate 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 will be paid on Friday, September 26th. Investors of record on Friday, September 19th will be paid a $0.3665 dividend. This represents a c) annualized dividend and a dividend yield of 11.2%. The ex-dividend date is Friday, September 19th. This is an increase from Macro Bank's previous monthly dividend of $0.37. Macro Bank's dividend payout ratio (DPR) is currently 38.48%.

Wall Street Analysts Forecast Growth

BMA has been the topic of a number of recent research reports. Zacks Research lowered Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Citigroup lowered Macro Bank from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Macro Bank presently has a consensus rating of "Hold" and a consensus price target of $62.17.

Macro Bank Company 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.