PointState Capital LP Lowers Holdings in Macro Bank Inc. $BMA

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 reduced its position in Macro Bank Inc. (NYSE:BMA - Free Report) by 25.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 251,391 shares of the bank's stock after selling 87,629 shares during the period. PointState Capital LP owned about 0.39% of Macro Bank worth $18,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in shares of Macro Bank by 1,829.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock worth $58,000 after purchasing an additional 567 shares in the last quarter. Northern Trust Corp purchased a new stake in shares of Macro Bank during the fourth quarter valued at $238,000. Schonfeld Strategic Advisors LLC bought a new stake in Macro Bank in the 4th quarter worth about $958,000. Bank of America Corp DE increased its holdings in Macro Bank by 93.5% in the 4th quarter. Bank of America Corp DE now owns 6,631 shares of the bank's stock worth $642,000 after buying an additional 3,205 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in Macro Bank by 31.2% in the 4th quarter. Cetera Investment Advisers now owns 9,215 shares of the bank's stock worth $892,000 after buying an additional 2,194 shares during the last quarter.

Wall Street Analyst Weigh In

BMA has been the topic of a number of recent analyst reports. 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 research report 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, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Macro Bank has a consensus rating of "Hold" and a consensus price target of $62.17.

Macro Bank Stock Performance

BMA traded down $0.87 during midday trading on Tuesday, reaching $44.21. The company had a trading volume of 1,110,569 shares, compared to its average volume of 546,699. The business has a 50-day moving average of $65.94 and a two-hundred day moving average of $76.63. 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 $43.90 and a 1 year high of $118.42. The company has a market cap of $2.83 billion, a P/E ratio of 3.87, a P/E/G ratio of 0.67 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) last released its 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 return on equity of 10.94% and a net margin of 8.32%.The business had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. As a group, 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 business also recently announced a monthly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a $0.3658 dividend. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date was Friday, August 15th. Macro Bank's dividend payout ratio is currently 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.