Ramirez Asset Management Inc. Invests $1.30 Million in Macro Bank Inc. (NYSE:BMA)

Key Points

• Ramirez Asset Management Inc. acquired a new stake in Macro Bank Inc. worth approximately $1,295,000 by purchasing 17,148 shares in the first quarter.
• Macro Bank's latest earnings report revealed a significant miss on analysts' expectations, with earnings per share at $0.65 vs. a consensus of $1.76.
• The stock currently holds a consensus rating of "Hold" from analysts, with an average price target of $62.13, despite price targets ranging as high as $89.00 from some firms.

Ramirez Asset Management Inc. bought a new stake in Macro Bank Inc. (NYSE:BMA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,148 shares of the bank's stock, valued at approximately $1,295,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Macro Bank by 84.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank's stock valued at $52,161,000 after purchasing an additional 247,070 shares during the last quarter. Duquesne Family Office LLC grew its holdings in shares of Macro Bank by 14.5% during the 4th quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank's stock valued at $46,970,000 after purchasing an additional 61,300 shares during the last quarter. PointState Capital LP grew its holdings in shares of Macro Bank by 25.1% during the 4th quarter. PointState Capital LP now owns 339,020 shares of the bank's stock valued at $32,804,000 after purchasing an additional 68,096 shares during the last quarter. Axiom Investors LLC DE grew its holdings in shares of Macro Bank by 72.8% during the 4th quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock valued at $29,317,000 after purchasing an additional 127,678 shares during the last quarter. Finally, Gemsstock Ltd. bought a new stake in shares of Macro Bank during the 4th quarter valued at approximately $15,349,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BMA shares. JPMorgan Chase & Co. lifted their price target on shares of 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 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. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $62.13.

Macro Bank Stock Performance

BMA traded up $3.46 during trading on Tuesday, hitting $73.48. 305,106 shares of the company traded hands, compared to its average volume of 349,287. 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 firm has a market cap of $4.70 billion, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60. Macro Bank Inc. has a one year low of $42.22 and a one year high of $118.42. The stock's fifty day moving average is $74.81 and its 200 day moving average is $83.94.

Macro Bank (NYSE:BMA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share 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 the consensus estimate of $837.49 billion. Macro Bank had a return on equity of 1.50% and a net margin of 1.12%. As a group, equities analysts predict that Macro Bank Inc. will post 7.84 EPS for the current fiscal year.

Macro Bank Cuts Dividend

The company also recently declared a -- dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 18th were issued a $0.3985 dividend. This represents a dividend yield of 9.2%. The ex-dividend date was Friday, July 18th. Macro Bank's payout ratio is 19.11%.

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.