Diversify Wealth Management LLC Raises Position in Banco Macro S.A. (NYSE:BMA)

Diversify Wealth Management LLC raised its position in Banco Macro S.A. (NYSE:BMA) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,657 shares of the bank’s stock after acquiring an additional 693 shares during the quarter. Diversify Wealth Management LLC’s holdings in Banco Macro were worth $1,058,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BMA. Headlands Technologies LLC purchased a new position in shares of Banco Macro in the first quarter valued at about $33,000. Blue Trust Inc. increased its position in shares of 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 purchased a new position in shares of Banco Macro during the second quarter valued at about $51,000. Shilanski & Associates Inc. purchased a new position in shares of Banco Macro during the second quarter valued at about $244,000. Finally, Norden Group LLC purchased a new position in shares of Banco Macro during the first quarter valued at about $261,000.

Banco Macro Trading Down 1.2 %

NYSE:BMA opened at $78.03 on Thursday. Banco Macro S.A. has a one year low of $17.90 and a one year high of $82.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.77. The company’s 50-day simple moving average is $67.23 and its 200 day simple moving average is $60.31. The firm has a market capitalization of $4.99 billion, a P/E ratio of 4.61 and a beta of 1.80.

Banco Macro (NYSE:BMA) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) EPS for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. The business had revenue of $1.03 billion for the quarter. During the same quarter in the prior year, the firm earned $2.69 earnings per share. As a group, analysts forecast that Banco Macro S.A. will post 9.7 EPS for the current fiscal year.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were paid a dividend of $1.798 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $21.58 annualized dividend and a yield of 27.65%. This is a positive change from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s payout ratio is presently 127.41%.

Analyst Ratings Changes

Several brokerages recently issued reports on BMA. JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and boosted their price target for the company 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 research 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 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.