Macro Bank Inc. $BMA Shares Sold by PointState Capital LP

Key Points

• PointState Capital LP has reduced its position in Macro Bank Inc. (NYSE:BMA) by 25.8%, selling 87,629 shares in the first quarter, and now owns approximately 0.39% of the bank valued at $18,983,000.
• Several institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Banco BTG Pactual S.A., have significantly increased their stakes in Macro Bank during the recent quarters, with some reporting increases as high as 868.2%.
• An earnings report indicated that Macro Bank missed the consensus EPS estimate by $0.04, while Zacks downgraded its rating to "strong sell", reflecting concerns over its financial performance.

PointState Capital LP lessened its holdings in Macro Bank Inc. (NYSE:BMA - Free Report) by 25.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 251,391 shares of the bank's stock after selling 87,629 shares during the quarter. PointState Capital LP owned about 0.39% of Macro Bank worth $18,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Macro Bank during the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC raised its position 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 worth $58,000 after acquiring an additional 567 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Macro Bank by 31.3% in the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after purchasing an additional 245 shares in the last quarter. Finally, Wallace Advisory Group LLC purchased a new stake in shares of Macro Bank in the first quarter worth $157,000.

Macro Bank Stock Performance

NYSE BMA traded down $1.01 during mid-day trading on Thursday, reaching $46.41. 312,293 shares of the stock were exchanged, compared to its average volume of 381,917. Macro Bank Inc. has a 1 year low of $43.90 and a 1 year high of $118.42. The company has a market capitalization of $2.97 billion, a P/E ratio of 4.07, a P/E/G ratio of 0.65 and a beta of 1.68. The business's 50 day moving average is $65.50 and its 200-day moving average is $76.43. 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 results 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). 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. On average, equities research analysts forecast 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. Investors of record on Friday, August 15th were issued a $0.3658 dividend. The ex-dividend date was Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.5%. Macro Bank's payout ratio is 38.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BMA. Itau BBA Securities started coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective for the company. Zacks Research cut shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Finally, Citigroup reissued a "neutral" rating on shares of Macro Bank in a research note on Thursday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $62.17.

Macro Bank Company 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.