Diversify Wealth Management LLC Purchases 693 Shares of Banco Macro S.A. (NYSE:BMA)

Diversify Wealth Management LLC lifted its position in Banco Macro S.A. (NYSE:BMA) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,657 shares of the bank’s stock after acquiring an additional 693 shares during the period. Diversify Wealth Management LLC’s holdings in Banco Macro were worth $1,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Candriam S.C.A. purchased a new position in shares of Banco Macro during the second quarter valued at approximately $43,236,000. Duquesne Family Office LLC raised its holdings in shares of Banco Macro by 30.9% during the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock valued at $15,659,000 after purchasing an additional 64,400 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Banco Macro by 72.3% during the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock valued at $9,491,000 after purchasing an additional 69,494 shares during the last quarter. LSV Asset Management raised its holdings in shares of Banco Macro by 11.3% during the first quarter. LSV Asset Management now owns 64,000 shares of the bank’s stock valued at $3,084,000 after purchasing an additional 6,500 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Banco Macro during the first quarter valued at approximately $348,000.

Banco Macro Stock Down 1.2 %

Shares of BMA stock opened at $78.03 on Thursday. Banco Macro S.A. has a 12 month low of $17.90 and a 12 month high of $82.16. The stock has a market cap of $4.99 billion, a P/E ratio of 4.61 and a beta of 1.80. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $67.23 and a two-hundred day simple moving average of $60.31.

Banco Macro (NYSE:BMA) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). The firm had revenue of $1.03 billion during the quarter. Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. During the same period in the previous year, the business posted $2.69 earnings per share. On average, research analysts expect that Banco Macro S.A. will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were paid a $1.798 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a dividend yield of 27.65%. Banco Macro’s dividend payout ratio is 127.41%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BMA. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $78.00 in a report on Friday, August 30th. StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Bank of America raised shares of Banco Macro from an “underperform” rating to a “neutral” rating and upped their target price for the company from $53.00 to $62.00 in a report on Thursday, August 8th.

About Banco Macro

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.