Candriam S.C.A. Makes New Investment in Banco Macro S.A. (NYSE:BMA)

Candriam S.C.A. purchased a new position in Banco Macro S.A. (NYSE:BMA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 754,200 shares of the bank’s stock, valued at approximately $43,236,000. Candriam S.C.A. owned about 1.18% of Banco Macro at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BMA. Capital Wealth Planning LLC boosted its position in Banco Macro by 42.2% during the fourth quarter. Capital Wealth Planning LLC now owns 26,292 shares of the bank’s stock worth $755,000 after purchasing an additional 7,806 shares during the period. Hsbc Holdings PLC bought a new position in Banco Macro in the 4th quarter worth $1,475,000. HAP Trading LLC lifted its position in Banco Macro by 148.7% during the 4th quarter. HAP Trading LLC now owns 36,736 shares of the bank’s stock worth $1,054,000 after acquiring an additional 21,964 shares during the last quarter. Fourth Sail Capital LP bought a new stake in Banco Macro during the first quarter valued at about $9,038,000. Finally, Claro Advisors LLC acquired a new stake in shares of Banco Macro in the first quarter valued at about $260,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMA shares. StockNews.com lowered Banco Macro from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $78.00 in a research report on Friday, August 30th. Finally, Bank of America upgraded 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 research note on Thursday, August 8th.

Banco Macro Trading Down 2.1 %

Banco Macro stock opened at $62.04 on Friday. The business has a 50 day moving average price of $54.45 and a two-hundred day moving average price of $53.33. 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 12 month low of $17.30 and a 12 month high of $68.24. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 3.66 and a beta of 1.91.

Banco Macro (NYSE:BMA) last issued its earnings results on Thursday, August 22nd. The bank reported ($4.01) 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 net margin of 12.58% and a return on equity of 25.97%. During the same period last year, the firm earned $2.69 EPS. As a group, equities analysts forecast that Banco Macro S.A. will post 10.52 EPS for the current year.

Banco Macro Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were given a $1.798 dividend. This represents a $21.58 annualized dividend and a yield of 34.78%. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s dividend payout ratio is 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.