Y Intercept Hong Kong Ltd Grows Holdings in Macro Bank Inc. (NYSE:BMA)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Macro Bank Inc. by 259.4%, acquiring a total of 8,076 shares valued at approximately $610,000.
• Macro Bank's recent earnings report showed an EPS of $0.65, falling short of analysts' expectations of $1.76, alongside revenue of $759.36 million.
• The company has introduced a new dividend of $0.3985 per share, achieving a dividend yield of 9.2%, with a payout ratio of 19.02%.

Y Intercept Hong Kong Ltd grew its stake in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 259.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,076 shares of the bank's stock after purchasing an additional 5,829 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Macro Bank were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Macro Bank by 84.6% in 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 acquiring an additional 247,070 shares during the period. Gemsstock Ltd. purchased a new stake in shares of Macro Bank during the 4th quarter worth $15,349,000. Axiom Investors LLC DE boosted its position 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 worth $29,317,000 after purchasing an additional 127,678 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Macro Bank by 9,810.7% in the 1st quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock worth $5,867,000 after buying an additional 76,916 shares in the last quarter. Finally, PointState Capital LP boosted its position in shares of Macro Bank by 25.1% in the 4th quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after buying an additional 68,096 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Itau BBA Securities assumed coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Macro Bank from $78.00 to $89.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat.com, Macro Bank has an average rating of "Hold" and a consensus target price of $62.13.

Macro Bank Trading Up 5.3%

Shares of NYSE BMA traded up $3.69 on Tuesday, reaching $73.71. 175,958 shares of the company traded hands, compared to its average volume of 352,664. Macro Bank Inc. has a fifty-two week low of $42.22 and a fifty-two week high of $118.42. The company has a 50 day moving average of $74.81 and a 200 day moving average of $83.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.71 billion, a PE ratio of 6.46, a P/E/G ratio of 0.28 and a beta of 1.60.

Macro Bank (NYSE:BMA - Get Free Report) last issued its earnings results 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 return on equity of 1.50% and a net margin of 1.12%. The firm had revenue of $759.36 million for the quarter, compared to analysts' expectations of $837.49 billion. On average, equities research analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

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

Macro Bank Company 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.