Hsbc Holdings PLC Lowers Position in Banco Macro S.A. (NYSE:BMA)

Hsbc Holdings PLC decreased its position in shares of Banco Macro S.A. (NYSE:BMA) by 35.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 32,190 shares of the bank’s stock after selling 17,772 shares during the period. Hsbc Holdings PLC owned about 0.05% of Banco Macro worth $1,819,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BMA. Beverly Hills Private Wealth LLC grew its stake in Banco Macro by 6.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock worth $316,000 after purchasing an additional 323 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Banco Macro in the 1st quarter worth about $33,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Banco Macro in the 2nd quarter worth about $51,000. Shilanski & Associates Inc. bought a new stake in Banco Macro during the second quarter worth about $244,000. Finally, Claro Advisors LLC bought a new stake in Banco Macro during the first quarter worth about $260,000.

Banco Macro Stock Down 1.9 %

Shares of Banco Macro stock opened at $65.47 on Friday. The company has a 50-day simple moving average of $58.04 and a two-hundred day simple moving average of $56.23. The stock has a market capitalization of $4.19 billion, a PE ratio of 3.87 and a beta of 1.80. Banco Macro S.A. has a 52-week low of $17.30 and a 52-week high of $76.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.79.

Banco Macro (NYSE:BMA) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm posted $2.69 EPS. On average, analysts anticipate that Banco Macro S.A. will post 9.7 EPS for the current fiscal year.

Banco Macro Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were issued a dividend of $1.798 per share. This is an increase 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 32.96%. The ex-dividend date of this dividend was Friday, August 16th. Banco Macro’s dividend payout ratio is presently 127.41%.

Analyst Upgrades and Downgrades

BMA has been the subject of several recent research reports. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $53.00 to $62.00 in a report on Thursday, August 8th. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $78.00 in a research note on Friday, August 30th.

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.