Axiom Investors LLC DE Has $3.01 Million Holdings in Macro Bank Inc. $BMA

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 decreased its holdings in Macro Bank Inc. (NYSE:BMA - Free Report) by 86.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BMA. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Macro Bank in the first quarter worth $31,000. Tower Research Capital LLC TRC lifted its holdings in Macro Bank by 1,829.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock valued at $58,000 after buying an additional 567 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock valued at $59,000 after buying an additional 124 shares during the period. GAMMA Investing LLC lifted its holdings in 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 buying an additional 245 shares during the period. Finally, Wallace Advisory Group LLC acquired a new position in Macro Bank in the first quarter valued at $157,000.

Macro Bank Stock Down 2.3%

Shares of NYSE BMA traded down $1.35 during trading on Friday, hitting $58.14. 278,813 shares of the company traded hands, compared to its average volume of 397,668. The business's fifty day moving average is $68.26 and its 200 day moving average is $78.46. Macro Bank Inc. has a fifty-two week low of $52.33 and a fifty-two week high of $118.42. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 5.10, a P/E/G ratio of 0.30 and a beta of 1.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05.

Macro Bank (NYSE:BMA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share 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 company had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. Equities research 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 announced a monthly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $0.3658 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Friday, August 15th. Macro Bank's dividend payout ratio is currently 38.48%.

Analysts Set New Price Targets

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

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.