Atlas Capital Advisors LLC Buys Shares of 6,320 Banco Macro S.A. (NYSE:BMA)

Atlas Capital Advisors LLC purchased a new position in Banco Macro S.A. (NYSE:BMA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,320 shares of the bank’s stock, valued at approximately $362,000.

A number of other hedge funds also recently modified their holdings of BMA. Shilanski & Associates Inc. bought a new stake in Banco Macro during the 2nd quarter worth approximately $244,000. Rokos Capital Management LLP bought a new stake in shares of Banco Macro during the first quarter worth $296,000. Maple Rock Capital Partners Inc. bought a new stake in shares of Banco Macro during the first quarter worth $23,994,000. Headlands Technologies LLC acquired a new stake in shares of Banco Macro during the first quarter worth $33,000. Finally, SG Americas Securities LLC bought a new stake in Banco Macro in the 1st quarter valued at $348,000.

Banco Macro Stock Up 5.5 %

BMA stock traded up $3.06 during midday trading on Friday, hitting $58.80. The company’s stock had a trading volume of 726,091 shares, compared to its average volume of 368,723. The company’s fifty day moving average price is $54.03 and its 200 day moving average price is $52.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 1.05. Banco Macro S.A. has a twelve month low of $17.30 and a twelve month high of $68.24. The stock has a market capitalization of $3.76 billion, a P/E ratio of 3.47 and a beta of 1.91.

Banco Macro (NYSE:BMA) last released 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 net margin of 16.33% and a return on equity of 37.91%. The company had revenue of $1.03 billion during the quarter. During the same quarter in the prior year, the company posted $2.69 earnings per share. As a group, equities research analysts predict that Banco Macro S.A. will post 11.83 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 dividend of $1.798 per share. The ex-dividend date was Friday, August 16th. This represents a $21.58 dividend on an annualized basis and a dividend yield of 36.69%. This is a boost from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s dividend payout ratio is currently 127.41%.

Analyst Ratings Changes

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

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 (ATMs), and money transfers.