Acadian Asset Management LLC Takes $1.47 Million Position in Banco Macro S.A. (NYSE:BMA)

Acadian Asset Management LLC bought a new stake in shares of Banco Macro S.A. (NYSE:BMA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,577 shares of the bank’s stock, valued at approximately $1,466,000.

Several other hedge funds have also modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in shares of Banco Macro during the first quarter valued at $33,000. Shilanski & Associates Inc. purchased a new stake in shares of Banco Macro during the second quarter valued at $244,000. Claro Advisors LLC purchased a new stake in shares of Banco Macro during the first quarter valued at $260,000. Norden Group LLC purchased a new stake in Banco Macro in the 1st quarter worth about $261,000. Finally, Rokos Capital Management LLP purchased a new stake in Banco Macro in the 1st quarter worth about $296,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMA. JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Banco Macro Price Performance

Shares of BMA stock opened at $67.76 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14. Banco Macro S.A. has a fifty-two week low of $17.30 and a fifty-two week high of $68.24. The stock’s 50-day moving average is $55.44 and its two-hundred day moving average is $54.61.

Banco Macro (NYSE:BMA) last issued its earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. The firm had revenue of $1.03 billion during the quarter. During the same quarter in the prior year, the firm posted $2.69 earnings per share. As a group, analysts anticipate that Banco Macro S.A. will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were paid a $1.798 dividend. This represents a $21.58 dividend on an annualized basis and a dividend yield of 31.84%. This is an increase from Banco Macro’s previous monthly dividend of $1.74. The ex-dividend date was Friday, August 16th. Banco Macro’s dividend payout ratio (DPR) is presently 127.41%.

Banco Macro 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 (ATMs), and money transfers.