Dorsey Wright & Associates Cuts Stake in Macro Bank Inc. $BMA

Dorsey Wright & Associates lowered its holdings in shares of Macro Bank Inc. (NYSE:BMA) by 38.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 32,170 shares of the bank’s stock after selling 20,264 shares during the quarter. Dorsey Wright & Associates’ holdings in Macro Bank were worth $2,259,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Deuterium Capital Management LLC purchased a new stake in Macro Bank during the first quarter valued at about $218,000. Militia Capital Partners LP lifted its stake in shares of Macro Bank by 70.4% in the 1st quarter. Militia Capital Partners LP now owns 3,460 shares of the bank’s stock valued at $261,000 after acquiring an additional 1,430 shares during the last quarter. Monaco Asset Management SAM bought a new stake in shares of Macro Bank in the 1st quarter valued at about $302,000. US Bancorp DE purchased a new stake in Macro Bank during the 1st quarter valued at about $328,000. Finally, GAM Holding AG bought a new position in Macro Bank during the 2nd quarter worth approximately $336,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on BMA shares. Itau BBA Securities upgraded Macro Bank from a “market perform” rating to an “outperform” rating in a research report on Monday, October 27th. Zacks Research lowered shares of Macro Bank from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Hsbc Global Res raised shares of Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.38.

Macro Bank Stock Down 1.4%

Shares of Macro Bank stock opened at $78.67 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. Macro Bank Inc. has a 12-month low of $38.30 and a 12-month high of $118.42. The company has a market cap of $5.03 billion, a P/E ratio of 19.14, a PEG ratio of 1.59 and a beta of 1.57. The company’s fifty day simple moving average is $60.27 and its two-hundred day simple moving average is $68.71.

Macro Bank (NYSE:BMA) last announced its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. The company had revenue of $834.78 million for the quarter, compared to the consensus estimate of $752.51 million. Research analysts anticipate that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.3486 per share. This is a positive change from Macro Bank’s previous monthly dividend of $0.31. The ex-dividend date is Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. Macro Bank’s dividend payout ratio (DPR) is currently 101.70%.

About Macro Bank

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.