Dorsey Wright & Associates Sells 20,264 Shares of Macro Bank Inc. $BMA

Dorsey Wright & Associates trimmed its holdings in Macro Bank Inc. (NYSE:BMA) by 38.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,170 shares of the bank’s stock after selling 20,264 shares during the period. Dorsey Wright & Associates owned approximately 0.05% of Macro Bank worth $2,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Titan Global Capital Management USA LLC boosted its holdings in shares of Macro Bank by 4.0% in the second quarter. Titan Global Capital Management USA LLC now owns 8,368 shares of the bank’s stock worth $588,000 after acquiring an additional 323 shares during the period. Freedom Investment Management Inc. lifted its holdings in Macro Bank by 6.1% during the 1st quarter. Freedom Investment Management Inc. now owns 6,539 shares of the bank’s stock worth $494,000 after purchasing an additional 375 shares in the last quarter. Cetera Investment Advisers boosted its stake in Macro Bank by 3.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,925 shares of the bank’s stock worth $978,000 after purchasing an additional 449 shares during the period. Virtu Financial LLC grew its holdings in Macro Bank by 15.3% during the 1st quarter. Virtu Financial LLC now owns 8,476 shares of the bank’s stock valued at $640,000 after buying an additional 1,124 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in shares of Macro Bank by 9.1% during the first quarter. Townsquare Capital LLC now owns 14,665 shares of the bank’s stock valued at $1,107,000 after buying an additional 1,218 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BMA. Citigroup upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a research report on Monday, November 3rd. Itau BBA Securities raised shares of Macro Bank from a “market perform” rating to an “outperform” rating in a report on Monday, October 27th. Hsbc Global Res upgraded shares of Macro Bank to a “strong-buy” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group raised shares of Macro Bank to a “strong-buy” rating in a report on Monday, November 10th. Finally, HSBC raised Macro Bank from a “hold” rating to a “buy” rating and dropped their price objective for the company from $104.00 to $80.00 in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.38.

Macro Bank Stock Performance

Macro Bank stock opened at $78.67 on Wednesday. Macro Bank Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $118.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $5.03 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.59 and a beta of 1.57. The firm’s fifty day moving average price is $60.27 and its 200-day moving average price is $68.71.

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

Macro Bank Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 17th will be given a dividend of $0.3486 per share. This is a boost from Macro Bank’s previous monthly dividend of $0.31. The ex-dividend date is Monday, November 17th. This represents a c) annualized dividend and a dividend yield of 5.3%. Macro Bank’s dividend payout ratio is currently 101.70%.

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.