Banco Macro S.A. (NYSE:BMA) Shares Sold by AdvisorShares Investments LLC

AdvisorShares Investments LLC cut its position in shares of Banco Macro S.A. (NYSE:BMA) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,865 shares of the bank’s stock after selling 380 shares during the quarter. AdvisorShares Investments LLC’s holdings in Banco Macro were worth $841,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BMA. Candriam S.C.A. acquired a new stake in shares of Banco Macro in the second quarter valued at $43,236,000. Maple Rock Capital Partners Inc. bought a new stake in Banco Macro in the first quarter worth about $23,994,000. Ping Capital Management Inc. acquired a new stake in Banco Macro in the 2nd quarter valued at about $12,326,000. Fourth Sail Capital LP bought a new position in shares of Banco Macro during the 1st quarter valued at about $9,038,000. Finally, LSV Asset Management boosted its position in shares of Banco Macro by 23.1% during the 2nd quarter. LSV Asset Management now owns 78,804 shares of the bank’s stock valued at $4,518,000 after purchasing an additional 14,804 shares in the last quarter.

Analysts Set New Price Targets

BMA has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded 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 report on Friday, August 30th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th.

Banco Macro Trading Down 3.6 %

NYSE BMA opened at $61.51 on Wednesday. Banco Macro S.A. has a 1 year low of $17.30 and a 1 year high of $68.24. The stock’s 50-day moving average price is $54.80 and its two-hundred day moving average price is $54.00. 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 issued its quarterly earnings results on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. The firm had revenue of $1.03 billion during the quarter. During the same period in the previous year, the business posted $2.69 EPS. As a group, equities research analysts expect that Banco Macro S.A. will post 5.97 EPS for the current year.

Banco Macro Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were given a $1.798 dividend. This represents a $21.58 annualized dividend and a dividend yield of 35.08%. 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. Banco Macro’s dividend payout ratio (DPR) 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.