Marex Group plc Makes New Investment in Macro Bank Inc. $BMA

Marex Group plc acquired a new position in Macro Bank Inc. (NYSE:BMA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,493 shares of the bank’s stock, valued at approximately $1,018,000.

Other institutional investors have also recently modified their holdings of the company. Sagil Capital LLP bought a new stake in Macro Bank in the 2nd quarter worth approximately $10,094,000. Marshall Wace LLP raised its stake in shares of Macro Bank by 4,089.3% during the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock worth $8,439,000 after acquiring an additional 117,322 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Macro Bank in the 2nd quarter worth approximately $5,020,000. Cubist Systematic Strategies LLC lifted its holdings in shares of 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 acquiring an additional 50,067 shares during the last quarter. Finally, Banco BTG Pactual S.A. boosted its stake in shares of Macro Bank by 868.2% in the 1st quarter. Banco BTG Pactual S.A. now owns 42,600 shares of the bank’s stock valued at $3,217,000 after purchasing an additional 38,200 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group upgraded Macro Bank to a “strong-buy” rating in a report on Monday, November 10th. Weiss Ratings lowered Macro Bank from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, December 9th. Finally, Itau BBA Securities upgraded Macro Bank from a “market perform” rating to an “outperform” rating in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.50.

Macro Bank Stock Performance

Shares of NYSE:BMA opened at $86.86 on Monday. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 39.30, a price-to-earnings-growth ratio of 1.62 and a beta of 1.47. The company has a 50-day moving average price of $74.34 and a 200-day moving average price of $67.69. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. Macro Bank Inc. has a 12 month low of $38.30 and a 12 month high of $118.42.

Macro Bank (NYSE:BMA) last posted its earnings results on Wednesday, November 26th. The bank reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.06). The business had revenue of $668.70 million during the quarter, compared to the consensus estimate of $590.57 million. Macro Bank had a return on equity of 8.15% and a net margin of 6.11%. As a group, equities analysts anticipate that Macro Bank Inc. will post 7.84 EPS for the current year.

Macro Bank Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 16th will be issued a dividend of $0.3585 per share. This is a boost from Macro Bank’s previous monthly dividend of $0.35. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, December 16th. Macro Bank’s dividend payout ratio is currently 189.14%.

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.