JPMorgan Chase & Co. Has $4.82 Million Stake in Macro Bank Inc. $BMA

Key Points

• JPMorgan Chase & Co. boosted its stake in Macro Bank (NYSE: BMA) by 42.6% in Q3 to 113,983 shares—about $4.82 million, representing roughly 0.18% of the company.
• Other institutions also increased exposure: Millennium Management doubled to 575,206 shares (~$24.3M), Cape Ann added to 461,216 shares (~$19.5M), Candriam initiated a ~$13.6M stake, and Marshall Wace surged its holdings by 4,089%.
• Macro Bank raised its monthly dividend to $0.4007 (annualized yield ~6.2%), but the payout ratio is high at 146.2%; the stock has a $4.95B market cap, a P/E of 23.5, and a consensus analyst rating of "Hold" with a $102.60 price target.

JPMorgan Chase & Co. grew its stake in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 42.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 113,983 shares of the bank's stock after purchasing an additional 34,036 shares during the period. JPMorgan Chase & Co. owned about 0.18% of Macro Bank worth $4,820,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of Macro Bank by 100.7% during the third quarter. Millennium Management LLC now owns 575,206 shares of the bank's stock valued at $24,325,000 after buying an additional 288,614 shares during the last quarter. Cape Ann Asset Management Ltd grew its holdings in Macro Bank by 66.2% during the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank's stock worth $19,505,000 after buying an additional 183,700 shares in the last quarter. Candriam S.C.A. purchased a new stake in Macro Bank in the 3rd quarter valued at $13,643,000. Ping Capital Management Inc. lifted its stake in Macro Bank by 1.7% during the 3rd quarter. Ping Capital Management Inc. now owns 123,104 shares of the bank's stock valued at $5,206,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Macro Bank by 4,089.3% during the 2nd quarter. Marshall Wace LLP now owns 120,191 shares of the bank's stock valued at $8,439,000 after acquiring an additional 117,322 shares in the last quarter.

Macro Bank Stock Down 0.6%

Shares of NYSE:BMA opened at $77.42 on Friday. Macro Bank Inc. has a 1 year low of $38.30 and a 1 year high of $106.15. The company has a market capitalization of $4.95 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 0.61 and a beta of 1.52. The business has a fifty day moving average price of $82.47 and a two-hundred day moving average price of $77.45. 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 released its 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%. Analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current year.

Macro Bank Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 20th were issued a dividend of $0.4007 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. This is a boost from Macro Bank's previous monthly dividend of $0.38. The ex-dividend date was Friday, March 20th. Macro Bank's dividend payout ratio is 146.20%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMA shares. Wall Street Zen upgraded shares of Macro Bank from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. Weiss Ratings reissued a "sell (d)" rating on shares of Macro Bank in a research report on Friday, March 27th. Zacks Research cut shares of Macro Bank from a "hold" rating to a "strong sell" rating in a report on Monday, February 9th. HSBC downgraded shares of Macro Bank from a "buy" rating to a "hold" rating and set a $80.00 price objective for the company. in a research report on Monday, December 15th. Finally, The Goldman Sachs Group dropped their target price on shares of Macro Bank from $111.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $102.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.