Macro Bank Inc. (NYSE:BMA) Stock Position Decreased by Ping Capital Management Inc.

Ping Capital Management Inc. cut its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 31.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,304 shares of the bank's stock after selling 59,400 shares during the period. Macro Bank makes up about 3.6% of Ping Capital Management Inc.'s portfolio, making the stock its 7th biggest holding. Ping Capital Management Inc. owned about 0.20% of Macro Bank worth $9,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMA. HUB Investment Partners LLC purchased a new stake in shares of Macro Bank in the fourth quarter worth approximately $326,000. Quantbot Technologies LP increased its holdings in shares of Macro Bank by 2,299.2% in the 4th quarter. Quantbot Technologies LP now owns 5,878 shares of the bank's stock valued at $569,000 after acquiring an additional 5,633 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Macro Bank in the 4th quarter valued at $377,000. Banco BTG Pactual S.A. purchased a new position in shares of Macro Bank in the 4th quarter valued at $426,000. Finally, Sagil Capital LLP purchased a new position in shares of Macro Bank in the 4th quarter valued at $7,337,000.

Analysts Set New Price Targets

BMA has been the topic of several research analyst reports. Itau BBA Securities initiated coverage on Macro Bank in a research note on Tuesday, May 20th. They set a "market perform" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Macro Bank has an average rating of "Hold" and an average price target of $62.13.

Macro Bank Price Performance

Macro Bank stock remained flat at $64.54 during trading hours on Monday. The company's stock had a trading volume of 105,994 shares, compared to its average volume of 322,729. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm's 50-day moving average price is $77.82 and its 200 day moving average price is $85.82. The firm has a market capitalization of $4.12 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 0.25 and a beta of 1.60. 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 issued its quarterly earnings data 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 company 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%. Research analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 18th will be issued a $0.3985 dividend. The ex-dividend date is Friday, July 18th. This represents a yield of 9.2%. Macro Bank's payout ratio is 34.36%.

Macro Bank 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.