Invesco Ltd. Decreases Stake in Macro Bank Inc. $BMA

Key Points

• Invesco Ltd. reduced its stake in Macro Bank Inc. by 17.3%, owning 24,029 shares after selling 5,044 during the first quarter, valued at approximately $1.81 million.
• Macro Bank reported earnings per share of $1.95 for the latest quarter, slightly missing analysts' expectations, while revenue exceeded forecasts at $834.78 million.
• The bank has announced a monthly dividend of $0.3658 per share, representing an annual yield of 7.5% with a payout ratio of 38.48%.

Invesco Ltd. decreased its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 17.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,029 shares of the bank's stock after selling 5,044 shares during the quarter. Invesco Ltd.'s holdings in Macro Bank were worth $1,814,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Macro Bank by 84.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank's stock valued at $52,161,000 after buying an additional 247,070 shares in the last quarter. Duquesne Family Office LLC lifted its holdings in shares of Macro Bank by 14.5% in the fourth quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank's stock worth $46,970,000 after buying an additional 61,300 shares in the last quarter. PointState Capital LP lifted its holdings in shares of Macro Bank by 25.1% in the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after buying an additional 68,096 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of Macro Bank by 83.0% in the fourth quarter. Brevan Howard Capital Management LP now owns 145,761 shares of the bank's stock worth $14,378,000 after buying an additional 66,109 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Macro Bank by 9,810.7% in the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock worth $5,867,000 after buying an additional 76,916 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research downgraded shares of Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Itau BBA Securities assumed 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, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.17.

Macro Bank Trading Up 3.4%

Shares of Macro Bank stock traded up $1.92 during trading on Thursday, hitting $58.45. The stock had a trading volume of 209,982 shares, compared to its average volume of 358,129. Macro Bank Inc. has a 12 month low of $54.53 and a 12 month high of $118.42. The firm's fifty day simple moving average is $67.46 and its 200-day simple moving average is $77.84. The stock has a market cap of $3.74 billion, a PE ratio of 5.16, a PEG ratio of 0.63 and a beta of 1.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick 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 analysts' consensus estimates of $1.99 by ($0.04). The company had revenue of $834.78 million for the quarter, compared to the consensus estimate of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. As a group, sell-side analysts expect that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

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