Macro Bank Inc. (NYSE:BMA) Holdings Lifted by Gemsstock Ltd.

Key Points

• Gemsstock Ltd. increased its holdings in Macro Bank by 30.3% during the first quarter, now owning 206,725 shares valued at approximately $15.6 million.
• Macro Bank's recent earnings report showed EPS of $0.65, missing estimates, with revenue of $759.36 million compared to expectations of $837.49 million.
• The bank declared a dividend of $0.3658 per share, further establishing a dividend payout ratio of 19.11% for investors.

Gemsstock Ltd. lifted its position in Macro Bank Inc. (NYSE:BMA - Free Report) by 30.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,725 shares of the bank's stock after buying an additional 48,100 shares during the period. Macro Bank makes up about 5.9% of Gemsstock Ltd.'s portfolio, making the stock its 5th largest position. Gemsstock Ltd. owned approximately 0.32% of Macro Bank worth $15,610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Macro Bank in the 1st quarter valued at $31,000. Tower Research Capital LLC TRC raised its position in Macro Bank by 1,829.0% during 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. raised its position in Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC raised its position in Macro Bank by 31.3% during the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after acquiring an additional 245 shares during the period. Finally, Wallace Advisory Group LLC acquired a new position in Macro Bank during the first quarter worth $157,000.

Macro Bank Trading Down 1.5%

BMA stock traded down $1.07 during mid-day trading on Friday, hitting $68.73. 116,794 shares of the company were exchanged, compared to its average volume of 346,716. 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 firm has a market capitalization of $4.39 billion, a P/E ratio of 6.02, a PEG ratio of 0.37 and a beta of 1.58. The business has a fifty day simple moving average of $70.74 and a 200-day simple moving average of $81.06. Macro Bank Inc. has a 12-month low of $50.71 and a 12-month high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($1.11). The business had revenue of $759.36 million for the quarter, compared to analyst estimates of $837.49 billion. Macro Bank had a return on equity of 1.50% and a net margin of 1.12%. On average, 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 -- dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 15th will be issued a $0.3658 dividend. The ex-dividend date of this dividend is Friday, August 15th. Macro Bank's payout ratio is presently 19.11%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMA shares. Itau BBA Securities initiated 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 for the company. JPMorgan Chase & Co. upped their target price on shares of Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, April 21st.

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.