Headlands Technologies LLC Sells 8,794 Shares of Macro Bank Inc. (NYSE:BMA)

Key Points

• Headlands Technologies LLC reduced its stake in Macro Bank Inc. by 67.9%, selling 8,794 shares during the first quarter, leaving them with 4,153 shares valued at $314,000.
• Several other investors increased their positions in Macro Bank, with notable increases from SBI Securities Co. Ltd. by 19.0% and GAMMA Investing LLC by 31.3% during the same period.
• Macro Bank reported disappointing earnings for the quarter with earnings per share of $0.65, missing expectations by $1.11, and announced a dividend cut to be paid in August.

Headlands Technologies LLC cut its stake in Macro Bank Inc. (NYSE:BMA - Free Report) by 67.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,153 shares of the bank's stock after selling 8,794 shares during the quarter. Headlands Technologies LLC's holdings in Macro Bank were worth $314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Shilanski & Associates Inc. raised its position in shares of Macro Bank by 2.4% during the 1st 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. Townsquare Capital LLC increased its position in Macro Bank by 0.8% during the fourth quarter. Townsquare Capital LLC now owns 13,447 shares of the bank's stock worth $1,301,000 after buying an additional 113 shares during the period. SBI Securities Co. Ltd. increased its position in Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after buying an additional 124 shares during the period. GAMMA Investing LLC increased 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Macro Bank in the first quarter valued at approximately $31,000.

Macro Bank Price Performance

Shares of BMA traded down $2.61 during trading hours on Thursday, hitting $69.55. 191,439 shares of the company were exchanged, compared to its average volume of 347,294. The company has a market capitalization of $4.44 billion, a PE ratio of 6.08, a PEG ratio of 0.37 and a beta of 1.58. 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 firm has a fifty day simple moving average of $70.86 and a 200-day simple moving average of $81.25. Macro Bank Inc. has a one year low of $50.71 and a one year high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $1.76 by ($1.11). The business had revenue of $759.36 million during the quarter, compared to analyst estimates of $837.49 billion. Macro Bank had a return on equity of 1.50% and a net margin of 1.12%. As a group, sell-side analysts predict that Macro Bank Inc. will post 7.84 earnings per share for the current year.

Macro Bank Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 15th will be paid a $0.3658 dividend. The ex-dividend date is Friday, August 15th. Macro Bank's payout ratio is presently 19.11%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMA. Itau BBA Securities began coverage on Macro Bank in a report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, April 21st.

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.