Diversify Advisory Services LLC Sells 1,751 Shares of Banco Macro S.A. (NYSE:BMA)

Diversify Advisory Services LLC decreased its stake in shares of Banco Macro S.A. (NYSE:BMA) by 26.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,786 shares of the bank’s stock after selling 1,751 shares during the quarter. Diversify Advisory Services LLC’s holdings in Banco Macro were worth $304,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Banco Macro in the first quarter valued at about $33,000. Blue Trust Inc. increased its stake in Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after acquiring an additional 387 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Banco Macro in the second quarter valued at about $51,000. Shilanski & Associates Inc. bought a new stake in Banco Macro in the second quarter valued at about $244,000. Finally, Norden Group LLC bought a new stake in Banco Macro in the first quarter valued at about $261,000.

Analyst Ratings Changes

BMA has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and upped their target price for the company from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America raised shares of Banco Macro from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Price Performance

Shares of Banco Macro stock opened at $78.23 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 7.65 and a beta of 1.80. Banco Macro S.A. has a 1-year low of $17.90 and a 1-year high of $82.16. The firm’s 50-day moving average price is $67.74 and its two-hundred day moving average price is $60.44.

Banco Macro (NYSE:BMA) last announced its earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) 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 company had revenue of $1.03 billion for the quarter. During the same quarter last year, the firm earned $2.69 EPS. On average, equities analysts predict that Banco Macro S.A. will post 9.7 earnings per share for the current fiscal year.

Banco Macro Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were given a dividend of $1.798 per share. This represents a $21.58 dividend on an annualized basis and a dividend yield of 27.58%. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. The ex-dividend date was Friday, August 16th. Banco Macro’s dividend payout ratio is presently 210.85%.

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.