Ping Capital Management Inc. decreased its position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 31.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,304 shares of the bank's stock after selling 59,400 shares during the quarter. Macro Bank makes up 3.6% of Ping Capital Management Inc.'s holdings, making the stock its 7th largest holding. Ping Capital Management Inc. owned about 0.20% of Macro Bank worth $9,839,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Burns Matteson Capital Management LLC raised its stake in Macro Bank by 30.4% in the first quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank's stock valued at $202,000 after buying an additional 624 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after purchasing an additional 124 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Macro Bank in the first quarter worth about $474,000. Diversify Wealth Management LLC raised its stake in shares of Macro Bank by 18.0% in the first quarter. Diversify Wealth Management LLC now owns 22,323 shares of the bank's stock worth $1,686,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Shilanski & Associates Inc. raised its stake in shares of Macro Bank by 2.4% in the first quarter. Shilanski & Associates Inc. now owns 4,773 shares of the bank's stock worth $360,000 after purchasing an additional 112 shares during the last quarter.
Wall Street Analyst Weigh In
Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Macro Bank from $78.00 to $89.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Itau BBA Securities initiated coverage on Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.13.
Check Out Our Latest Stock Analysis on Macro Bank
Macro Bank Price Performance
NYSE BMA traded down $0.79 during mid-day trading on Friday, hitting $64.71. The stock had a trading volume of 320,033 shares, compared to its average volume of 323,545. 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 company has a 50 day simple moving average of $77.82 and a 200 day simple moving average of $85.99. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 5.67, a P/E/G ratio of 0.25 and a beta of 1.60. Macro Bank Inc. has a 52-week low of $42.23 and a 52-week high of $118.42.
Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $837.49 billion. Equities analysts forecast that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.
Macro Bank Cuts Dividend
The business also recently announced a -- dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.3985 per share. This represents a dividend yield of 9.2%. The ex-dividend date is Friday, July 18th. Macro Bank's dividend payout ratio (DPR) is presently 31.03%.
About Macro Bank
(
Free Report)
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.
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