Hsbc Holdings PLC Has $2.27 Million Holdings in Macro Bank Inc. $BMA

Key Points

• Hsbc Holdings PLC increased its stake in Macro Bank Inc. by 21.6%, now owning 29,754 shares valued at approximately $2.27 million.
• Macro Bank recently declared a dividend of $0.3658 per share, with a payout ratio of 38.48%.
• Macro Bank's stock has seen a decline of 3.8%, with a current price of $57.27 compared to its one-year high of $118.42.

Hsbc Holdings PLC lifted its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,754 shares of the bank's stock after acquiring an additional 5,284 shares during the period. Hsbc Holdings PLC's holdings in Macro Bank were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMA. Allspring Global Investments Holdings LLC increased its position in Macro Bank by 11.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank's stock worth $4,271,000 after purchasing an additional 5,629 shares in the last quarter. GAMMA Investing LLC increased its position in Macro Bank by 9,810.7% during the 1st quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock worth $5,867,000 after purchasing an additional 76,916 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new position in Macro Bank during the 1st quarter worth approximately $310,000. Cambridge Investment Research Advisors Inc. acquired a new position in Macro Bank during the 1st quarter worth approximately $557,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the 1st quarter worth approximately $31,000.

Macro Bank Trading Up 0.5%

NYSE BMA traded up $0.31 on Tuesday, hitting $58.24. The company's stock had a trading volume of 615,486 shares, compared to its average volume of 389,397. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Macro Bank Inc. has a 1-year low of $54.53 and a 1-year high of $118.42. The company's 50-day moving average is $67.75 and its 200 day moving average is $77.99. The firm has a market cap of $3.72 billion, a PE ratio of 5.10, a PEG ratio of 0.63 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) last announced its quarterly 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). Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. The business had revenue of $834.78 million during the quarter, compared to analyst estimates of $752.51 million. As a group, analysts predict that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, Itau BBA Securities started coverage on shares of Macro Bank in a research report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price objective for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Macro Bank currently has an average rating of "Hold" and a consensus target price of $62.17.

About Macro Bank

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.