GAM Holding AG Takes Position in Macro Bank Inc. $BMA

GAM Holding AG purchased a new stake in shares of Macro Bank Inc. (NYSE:BMA) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,781 shares of the bank’s stock, valued at approximately $336,000.

Several other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Macro Bank by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank’s stock valued at $43,227,000 after buying an additional 33,390 shares during the last quarter. Gemsstock Ltd. lifted its holdings in Macro Bank by 30.3% in the 1st quarter. Gemsstock Ltd. now owns 206,725 shares of the bank’s stock worth $15,610,000 after purchasing an additional 48,100 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Macro Bank by 87.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 107,053 shares of the bank’s stock worth $8,084,000 after purchasing an additional 50,067 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Macro Bank by 47.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank’s stock worth $5,045,000 after purchasing an additional 21,613 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Macro Bank by 11.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank’s stock worth $4,271,000 after purchasing an additional 5,629 shares during the last quarter.

Macro Bank Stock Up 6.3%

Shares of BMA stock opened at $90.24 on Friday. Macro Bank Inc. has a 12 month low of $38.30 and a 12 month high of $118.42. The firm has a market cap of $5.77 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.54. The stock has a 50 day moving average of $53.29 and a 200-day moving average of $69.42. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.23.

Macro Bank (NYSE:BMA) last issued its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). Macro Bank had a return on equity of 10.99% and a net margin of 8.32%.The business had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. On average, equities analysts predict that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, October 27th. Investors of record on Monday, October 20th were paid a $0.3051 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, October 20th. Macro Bank’s dividend payout ratio is presently 89.05%.

Analyst Upgrades and Downgrades

BMA has been the subject of several analyst reports. Hsbc Global Res upgraded Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and reduced their target price for the stock from $104.00 to $80.00 in a report on Wednesday, October 1st. Citigroup lowered Macro Bank from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Zacks Research lowered Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Macro Bank in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.38.

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.