Monaco Asset Management SAM Takes Position in Macro Bank Inc. (NYSE:BMA)

Key Points

• Monaco Asset Management SAM invested $302,000 in Macro Bank Inc. by acquiring 4,000 shares, indicating growing interest from institutional investors.
• Macro Bank reported a missed earnings forecast for its recent quarter, with earnings per share at $0.65 compared to an expected $1.76.
• Despite the earnings miss, brokerages like JPMorgan Chase have raised their price target for Macro Bank from $78 to $89, suggesting potential recovery and growth for the stock.

Monaco Asset Management SAM purchased a new position in Macro Bank Inc. (NYSE:BMA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,000 shares of the bank's stock, valued at approximately $302,000.

Several other institutional investors have also added to or reduced their stakes in BMA. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Macro Bank in the first quarter worth about $31,000. Tower Research Capital LLC TRC grew its holdings 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 valued at $59,000 after acquiring an additional 124 shares in the last quarter. 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 valued at $78,000 after acquiring an additional 245 shares in the last quarter. Finally, Wallace Advisory Group LLC purchased a new position in Macro Bank during the first quarter valued at approximately $157,000.

Wall Street Analysts Forecast Growth

BMA has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on 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 initiated coverage on Macro Bank in a research report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price target for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $62.13.

Macro Bank Price Performance

BMA stock traded down $2.28 during mid-day trading on Friday, reaching $67.62. 207,481 shares of the company's stock were exchanged, compared to its average volume of 359,852. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.36 and a beta of 1.60. The stock's 50 day moving average is $72.96 and its 200 day moving average is $83.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. Macro Bank Inc. has a 12-month low of $42.22 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 analysts' consensus estimates of $1.76 by ($1.11). The business had revenue of $759.36 million for the quarter, compared to analysts' expectations of $837.49 billion. Macro Bank had a return on equity of 1.50% and a net margin of 1.12%. On average, research analysts expect that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Cuts Dividend

The company also recently announced a -- dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 18th were given a $0.3985 dividend. This represents a dividend yield of 920.0%. The ex-dividend date was Friday, July 18th. Macro Bank's dividend payout ratio (DPR) is 19.02%.

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.