Claro Advisors LLC Grows Holdings in Banco Macro S.A. (NYSE:BMA)

Claro Advisors LLC raised its position in shares of Banco Macro S.A. (NYSE:BMA) by 87.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,200 shares of the bank’s stock after purchasing an additional 4,744 shares during the quarter. Claro Advisors LLC’s holdings in Banco Macro were worth $648,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Candriam S.C.A. bought a new position in Banco Macro in the 2nd quarter worth $43,236,000. Duquesne Family Office LLC lifted its position in shares of Banco Macro by 30.9% in the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock valued at $15,659,000 after acquiring an additional 64,400 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Banco Macro by 72.3% in the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock worth $9,491,000 after acquiring an additional 69,494 shares during the period. LSV Asset Management grew its position in shares of Banco Macro by 11.3% during the first quarter. LSV Asset Management now owns 64,000 shares of the bank’s stock worth $3,084,000 after purchasing an additional 6,500 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Banco Macro during the 1st quarter valued at approximately $348,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $78.00 in a research report on Friday, August 30th. StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $53.00 to $62.00 in a report on Thursday, August 8th.

Banco Macro Stock Up 2.2 %

Shares of NYSE BMA opened at $72.75 on Friday. Banco Macro S.A. has a 12-month low of $17.30 and a 12-month high of $76.63. The stock’s fifty day simple moving average is $64.20 and its two-hundred day simple moving average is $58.91. The stock has a market capitalization of $4.65 billion, a PE ratio of 4.30 and a beta of 1.80. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.14.

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

Banco Macro Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a $1.798 dividend. This represents a $21.58 annualized dividend and a yield of 29.66%. 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 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, and money transfers.