X Square Capital LLC Acquires Shares of 7,000 Banco Macro S.A. (NYSE:BMA)

X Square Capital LLC bought a new position in shares of Banco Macro S.A. (NYSE:BMA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,000 shares of the bank’s stock, valued at approximately $445,000.

A number of other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after purchasing an additional 387 shares during the period. Claro Advisors LLC increased its stake in shares of Banco Macro by 87.0% during the third quarter. Claro Advisors LLC now owns 10,200 shares of the bank’s stock worth $648,000 after purchasing an additional 4,744 shares during the period. Mackenzie Financial Corp increased its stake in shares of Banco Macro by 32.9% during the second quarter. Mackenzie Financial Corp now owns 10,988 shares of the bank’s stock worth $630,000 after purchasing an additional 2,718 shares during the period. Duquesne Family Office LLC increased its stake in shares of Banco Macro by 30.9% during the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after purchasing an additional 64,400 shares during the period. Finally, Marshall Wace LLP grew its position in Banco Macro by 72.3% during the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock worth $9,491,000 after buying an additional 69,494 shares in the last quarter.

Banco Macro Trading Down 2.0 %

Shares of BMA stock opened at $70.95 on Thursday. The stock’s fifty day moving average price is $65.13 and its two-hundred day moving average price is $59.36. The company has a market cap of $4.54 billion, a PE ratio of 4.19 and a beta of 1.80. Banco Macro S.A. has a fifty-two week low of $17.74 and a fifty-two week high of $76.63. 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 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). The business had revenue of $1.03 billion during the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. During the same quarter in the previous year, the company posted $2.69 earnings per share. Equities analysts predict that Banco Macro S.A. will post 9.7 EPS for the current fiscal year.

Banco Macro Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a dividend of $1.798 per share. This is an increase 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 dividend yield of 30.41%. Banco Macro’s dividend payout ratio (DPR) is 127.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BMA. 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 downgraded Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th.

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.