Beverly Hills Private Wealth LLC Purchases 323 Shares of Banco Macro S.A. (NYSE:BMA)

Beverly Hills Private Wealth LLC grew its position in Banco Macro S.A. (NYSE:BMA) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,505 shares of the bank’s stock after acquiring an additional 323 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Banco Macro were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BMA. Candriam S.C.A. bought a new stake in Banco Macro in the 2nd quarter valued at $43,236,000. Maple Rock Capital Partners Inc. bought a new stake in Banco Macro in the first quarter valued at about $23,994,000. Ping Capital Management Inc. bought a new stake in Banco Macro in the second quarter valued at about $12,326,000. Fourth Sail Capital LP acquired a new position in Banco Macro in the first quarter worth about $9,038,000. Finally, Hsbc Holdings PLC bought a new position in Banco Macro during the fourth quarter worth about $1,475,000.

Analyst Upgrades and Downgrades

BMA has been the subject of several analyst reports. Bank of America upgraded Banco Macro from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $78.00 in a report on Friday, August 30th. Finally, StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Banco Macro Stock Performance

NYSE BMA opened at $67.72 on Friday. 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 1-year low of $17.30 and a 1-year high of $68.24. The company has a 50 day moving average of $55.44 and a 200-day moving average of $54.36.

Banco Macro (NYSE:BMA) last issued its quarterly earnings results 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 net margin of 12.58% and a return on equity of 25.97%. The company had revenue of $1.03 billion during the quarter. During the same period in the prior year, the company posted $2.69 earnings per share. As a group, analysts expect that Banco Macro S.A. will post 9.7 earnings per share for the current year.

Banco Macro Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a $1.798 dividend. This is a boost from Banco Macro’s previous monthly dividend of $1.74. The ex-dividend date was Friday, August 16th. This represents a $21.58 annualized dividend and a yield of 31.86%. Banco Macro’s dividend payout ratio (DPR) is currently 127.41%.

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 (ATMs), and money transfers.