5,584 Shares in Macro Bank Inc. $BMA Bought by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC acquired a new stake in Macro Bank Inc. (NYSE:BMA) by purchasing 5,584 shares, valued at approximately $422,000, during the first quarter.
• The bank reported a missed earnings estimate for the quarter with earnings per share (EPS) of $1.95, falling short of the consensus estimate of $1.99.
• Macro Bank's recent dividend payout was $0.3658 with an annualized yield of 7.5%, reflecting a dividend payout ratio (DPR) of 38.48%.

HighTower Advisors LLC acquired a new stake in shares of Macro Bank Inc. (NYSE:BMA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,584 shares of the bank's stock, valued at approximately $422,000.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Macro Bank during the 1st quarter worth about $31,000. Tower Research Capital LLC TRC lifted its position in shares of Macro Bank by 1,829.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock worth $58,000 after purchasing an additional 567 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Macro Bank by 19.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Macro Bank by 31.3% during the 1st 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 last quarter. Finally, Wallace Advisory Group LLC acquired a new position in shares of Macro Bank during the 1st quarter worth about $157,000.

Macro Bank Trading Up 4.2%

BMA traded up $2.35 during mid-day trading on Thursday, reaching $58.88. The stock had a trading volume of 231,524 shares, compared to its average volume of 358,169. The stock has a market capitalization of $3.76 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.63 and a beta of 1.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The firm's fifty day simple moving average is $67.46 and its two-hundred day simple moving average is $77.84. Macro Bank Inc. has a 52 week low of $54.53 and a 52 week high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly 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). The company had revenue of $834.78 million during the quarter, compared to analyst estimates of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. On average, equities analysts predict that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a $0.3658 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. Macro Bank's dividend payout ratio is 38.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Zacks Research cut Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Itau BBA Securities started coverage on Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Macro Bank has an average 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.