Blue Trust Inc. Has $45,000 Position in Banco Macro S.A. (NYSE:BMA)

Blue Trust Inc. grew its stake in Banco Macro S.A. (NYSE:BMA) by 118.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 714 shares of the bank’s stock after purchasing an additional 387 shares during the period. Blue Trust Inc.’s holdings in Banco Macro were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Claro Advisors LLC raised its holdings in Banco Macro by 87.0% in the 3rd quarter. Claro Advisors LLC now owns 10,200 shares of the bank’s stock valued at $648,000 after buying an additional 4,744 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Banco Macro by 32.9% in the 2nd quarter. Mackenzie Financial Corp now owns 10,988 shares of the bank’s stock valued at $630,000 after buying an additional 2,718 shares during the last quarter. Duquesne Family Office LLC raised its holdings in Banco Macro by 30.9% in the 2nd quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock valued at $15,659,000 after buying an additional 64,400 shares during the last quarter. Marshall Wace LLP raised its holdings in Banco Macro by 72.3% in the 2nd quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock valued at $9,491,000 after buying an additional 69,494 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in Banco Macro in the 2nd quarter valued at approximately $1,344,000.

Wall Street Analysts Forecast Growth

BMA has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $78.00 in a report on Friday, August 30th. StockNews.com lowered 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 raised their price target for the stock from $53.00 to $62.00 in a report on Thursday, August 8th.

Banco Macro Stock Performance

Banco Macro stock opened at $75.65 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 0.79. Banco Macro S.A. has a 52-week low of $18.91 and a 52-week high of $82.16. The firm has a 50 day moving average price of $68.18 and a two-hundred day moving average price of $60.63.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($5.50). The company had revenue of $1.03 billion during the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.98%. During the same period in the prior year, the company earned $2.69 EPS. As a group, equities research analysts forecast that Banco Macro S.A. will post 6.35 EPS for the current year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were paid a $1.798 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $21.58 annualized dividend and a dividend yield of 28.52%. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s payout ratio is currently 210.85%.

Banco Macro 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.