Monaco Asset Management SAM Takes $302,000 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 bought a new stake in Macro Bank Inc. (NYSE:BMA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,000 shares of the bank's stock, valued at approximately $302,000.

A number of other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Macro Bank in the 1st quarter worth about $31,000. Tower Research Capital LLC TRC raised its stake in Macro Bank by 1,829.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock worth $58,000 after buying an additional 567 shares during the period. SBI Securities Co. Ltd. raised its stake in Macro Bank by 19.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after buying an additional 124 shares during the period. GAMMA Investing LLC raised its stake in 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 buying an additional 245 shares during the period. Finally, Wallace Advisory Group LLC bought a new stake in Macro Bank during the 1st quarter worth approximately $157,000.

Macro Bank Stock Performance

Macro Bank stock traded down $1.19 during trading on Wednesday, hitting $72.12. The stock had a trading volume of 271,280 shares, compared to its average volume of 347,859. Macro Bank Inc. has a 1 year low of $42.22 and a 1 year high of $118.42. 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 stock's 50 day moving average is $74.37 and its two-hundred day moving average is $83.86. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.60.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings data 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). Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. The company had revenue of $759.36 million for the quarter, compared to the consensus estimate of $837.49 billion. As a group, analysts predict that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 18th were given a $0.3985 dividend. The ex-dividend date was Friday, July 18th. This represents a dividend yield of 9.2%. Macro Bank's dividend payout ratio (DPR) is presently 19.11%.

Analyst Ratings Changes

A number of brokerages have commented on BMA. Itau BBA Securities began coverage on Macro Bank in a 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 Macro Bank from $78.00 to $89.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $62.13.

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.