Barometer Capital Management Inc. Sells 87,570 Shares of Macro Bank Inc. $BMA

Barometer Capital Management Inc. lowered its holdings in shares of Macro Bank Inc. (NYSE:BMA) by 76.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,200 shares of the bank’s stock after selling 87,570 shares during the quarter. Macro Bank accounts for 0.9% of Barometer Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Barometer Capital Management Inc.’s holdings in Macro Bank were worth $2,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMA. SBI Securities Co. Ltd. grew its holdings in shares of Macro Bank by 43.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 703 shares of the bank’s stock worth $63,000 after purchasing an additional 214 shares during the last quarter. Advisory Services Network LLC bought a new position in Macro Bank in the 3rd quarter worth about $46,000. Van ECK Associates Corp bought a new position in Macro Bank in the 3rd quarter worth about $72,000. Mariner LLC purchased a new position in shares of Macro Bank during the fourth quarter worth approximately $214,000. Finally, HRT Financial LP purchased a new position in shares of Macro Bank during the fourth quarter worth approximately $237,000.

Macro Bank Price Performance

Shares of BMA opened at $92.47 on Wednesday. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. Macro Bank Inc. has a twelve month low of $38.30 and a twelve month high of $106.15. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $88.36 and a two-hundred day moving average of $84.76.

Macro Bank (NYSE:BMA) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.73 EPS for the quarter, beating the consensus estimate of $1.42 by $0.31. The firm had revenue of $412.19 million during the quarter, compared to analyst estimates of $837.75 million. Macro Bank had a return on equity of 8.42% and a net margin of 5.81%. As a group, analysts predict that Macro Bank Inc. will post 5.2 earnings per share for the current fiscal year.

Macro Bank Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.5296 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. Macro Bank’s payout ratio is 128.84%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BMA shares. JPMorgan Chase & Co. boosted their price target on Macro Bank from $120.00 to $132.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings raised Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Wall Street Zen upgraded Macro Bank from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Zacks Research raised Macro Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. Finally, HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $111.25.

Macro Bank Profile

Macro Bank (NYSE: BMA) is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.