Macro Bank Inc. (NYSE:BMA) Shares Sold by TT International Asset Management LTD

TT International Asset Management LTD reduced its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 963,288 shares of the bank's stock after selling 177,798 shares during the period. Macro Bank accounts for about 10.6% of TT International Asset Management LTD's holdings, making the stock its 2nd biggest holding. TT International Asset Management LTD owned approximately 1.51% of Macro Bank worth $72,738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Insigneo Advisory Services LLC increased its stake in Macro Bank by 64.0% during the first quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank's stock worth $315,000 after acquiring an additional 1,629 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in Macro Bank during the first quarter worth $310,000. GAMMA Investing LLC increased its position in shares of Macro Bank by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after purchasing an additional 245 shares during the last quarter. Wallace Advisory Group LLC acquired a new stake in shares of Macro Bank during the 1st quarter worth about $157,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Macro Bank during the 4th quarter worth about $920,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Macro Bank from $78.00 to $89.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. 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 for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.13.

Macro Bank Trading Down 3.3%

NYSE BMA traded down $2.38 during trading on Friday, hitting $70.40. The stock had a trading volume of 285,622 shares, compared to its average volume of 316,904. The company has a market capitalization of $4.50 billion, a PE ratio of 6.17, a PEG ratio of 0.28 and a beta of 1.68. 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 50 day moving average price of $86.08 and a 200 day moving average price of $89.72. Macro Bank Inc. has a twelve month low of $42.23 and a twelve month high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.76 by ($1.11). The business had revenue of $759.36 million during the quarter, compared to analyst estimates of $837.49 billion. Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. As a group, equities research analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current year.

About Macro Bank

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.