TT International Asset Management LTD Sells 283,638 Shares of Macro Bank Inc. $BMA

Key Points

• TT International trimmed its stake in Macro Bank by 38.3% in Q4, selling 283,638 shares and now holds 456,718 shares (about 8.6% of the fund's portfolio), valued at roughly $40.98 million.
• Macro Bank raised its monthly dividend to $0.4007 (annualized yield ~6.0%), but the payout ratio is very high at 146.2%, which could raise concerns about sustainability.
• Institutional activity is mixed—several funds (e.g., Millennium, Cape Ann, Marshall Wace, Monaco, Candriam) increased or initiated positions—while analysts have a consensus rating of "Hold" with a $102.60 target price.

TT International Asset Management LTD trimmed its holdings in Macro Bank Inc. (NYSE:BMA - Free Report) by 38.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 456,718 shares of the bank's stock after selling 283,638 shares during the period. Macro Bank accounts for about 8.6% of TT International Asset Management LTD's investment portfolio, making the stock its 3rd largest position. TT International Asset Management LTD owned about 0.71% of Macro Bank worth $40,981,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BMA. Candriam S.C.A. acquired a new stake in Macro Bank in the 3rd quarter valued at about $13,643,000. Millennium Management LLC grew its stake in Macro Bank by 100.7% in the 3rd quarter. Millennium Management LLC now owns 575,206 shares of the bank's stock valued at $24,325,000 after acquiring an additional 288,614 shares during the last quarter. Cape Ann Asset Management Ltd grew its stake in Macro Bank by 66.2% in the 3rd quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank's stock valued at $19,505,000 after acquiring an additional 183,700 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Macro Bank by 4,089.3% during the 2nd quarter. Marshall Wace LLP now owns 120,191 shares of the bank's stock worth $8,439,000 after purchasing an additional 117,322 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its stake in shares of Macro Bank by 536.2% during the 3rd quarter. Monaco Asset Management SAM now owns 82,700 shares of the bank's stock worth $3,497,000 after purchasing an additional 69,700 shares during the last quarter.

Macro Bank Trading Down 0.2%

NYSE BMA opened at $80.25 on Friday. Macro Bank Inc. has a one year low of $38.30 and a one year high of $106.15. The company's 50 day moving average price is $79.73 and its 200 day moving average price is $79.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.16 and a current ratio of 1.11. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 0.62 and a beta of 1.52.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The bank reported $0.11 EPS for the quarter. Macro Bank had a net margin of 4.99% and a return on equity of 6.85%. The firm had revenue of $312.24 million for the quarter. On average, sell-side analysts predict that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 20th were issued a $0.4007 dividend. The ex-dividend date was Friday, March 20th. This is a positive change from Macro Bank's previous monthly dividend of $0.38. This represents a c) annualized dividend and a yield of 6.0%. Macro Bank's payout ratio is 146.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Macro Bank from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. The Goldman Sachs Group decreased their price target on shares of Macro Bank from $111.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. HSBC cut shares of Macro Bank from a "buy" rating to a "hold" rating and set a $80.00 price target on the stock. in a research note on Monday, December 15th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Macro Bank in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $102.60.

Macro Bank Profile

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

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