Macro Bank Inc. $BMA Position Trimmed by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE decreased its stake in Macro Bank by 86.8%, now holding approximately 0.06% of the company, valued at $3.01 million, following the sale of over 263,000 shares.
• Macro Bank's recent quarterly earnings showed a loss, with earnings per share at $0.65, missing expectations by $1.11, alongside revenue lower than anticipated at $759.36 million.
• Despite recent sell-offs, one investment analyst has rated the stock a Buy, while two others assigned a Hold rating, resulting in an average target price of $62.17.

Axiom Investors LLC DE lessened its stake in Macro Bank Inc. (NYSE:BMA - Free Report) by 86.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,871 shares of the bank's stock after selling 263,112 shares during the quarter. Axiom Investors LLC DE owned approximately 0.06% of Macro Bank worth $3,011,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Macro Bank by 11.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank's stock worth $4,271,000 after acquiring an additional 5,629 shares during the period. GAMMA Investing LLC raised its stake in Macro Bank by 9,810.7% during the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock worth $5,867,000 after acquiring an additional 76,916 shares during the period. ABS Direct Equity Fund LLC acquired a new stake in Macro Bank during the first quarter worth about $310,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Macro Bank during the first quarter worth about $557,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Macro Bank during the first quarter worth about $31,000.

Wall Street Analyst Weigh In

Separately, Itau BBA Securities assumed coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They set 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 and two have given a Hold rating to the company. According to data from MarketBeat, Macro Bank currently has an average rating of "Hold" and an average price target of $62.17.

Macro Bank Price Performance

NYSE BMA traded up $1.98 on Thursday, reaching $59.41. 744,481 shares of the stock traded hands, compared to its average volume of 358,100. The firm's fifty day simple moving average is $68.51 and its 200 day simple moving average is $78.76. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 5.21, a P/E/G ratio of 0.30 and a beta of 1.58. Macro Bank Inc. has a 12 month low of $52.33 and a 12 month high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last issued 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 1.12% and a return on equity of 1.50%. The firm had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. As a group, research analysts predict that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were given a dividend of $0.3658 per share. The ex-dividend date was Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 7.4%. Macro Bank's dividend payout ratio (DPR) is 38.48%.

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.