MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 33,390 Shares of Macro Bank Inc. $BMA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Macro Bank Inc. by 6.2%, owning approximately 0.90% of the bank at a value of $43.23 million as of its latest SEC filing.
• Research firms have mixed ratings on Macro Bank, with a consensus rating of "Hold" and an average price target of $62.17, despite the bank's recent earnings report missing estimates by $0.04.
• Macro Bank recently announced a monthly dividend of $0.3658 per share, with a dividend yield of approximately 7.4%, reflecting a payout ratio of 38.48%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 572,464 shares of the bank's stock after buying an additional 33,390 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.90% of Macro Bank worth $43,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Shilanski & Associates Inc. grew its holdings in shares of Macro Bank by 2.4% during the first quarter. Shilanski & Associates Inc. now owns 4,773 shares of the bank's stock valued at $360,000 after buying an additional 112 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock valued at $59,000 after buying an additional 124 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Macro Bank by 31.3% during the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock valued at $78,000 after buying an additional 245 shares during the last quarter. Freedom Investment Management Inc. grew its holdings in shares of Macro Bank by 6.1% during the first quarter. Freedom Investment Management Inc. now owns 6,539 shares of the bank's stock valued at $494,000 after buying an additional 375 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Macro Bank during the first quarter valued at approximately $31,000.

Macro Bank Stock Performance

BMA traded down $2.59 during trading on Friday, hitting $43.59. The company's stock had a trading volume of 363,752 shares, compared to its average volume of 384,067. 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 one year low of $43.35 and a one year high of $118.42. The firm has a market cap of $2.79 billion, a PE ratio of 3.82, a P/E/G ratio of 0.70 and a beta of 1.68. The business's 50 day simple moving average is $65.02 and its 200-day simple moving average is $76.14.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share 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 during the quarter, compared to the consensus estimate of $752.51 million. As a group, sell-side analysts predict that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a $0.3658 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. Macro Bank's dividend payout ratio is 38.48%.

Analyst Ratings Changes

A number of research firms have recently commented on BMA. Itau BBA Securities started coverage on shares of Macro Bank in a report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price target on the stock. Zacks Research downgraded shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Finally, Citigroup restated a "neutral" rating on shares of Macro Bank in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.