Cubist Systematic Strategies LLC Has $214,000 Stock Holdings in Banco Macro S.A. (NYSE:BMA)

Cubist Systematic Strategies LLC lessened its holdings in Banco Macro S.A. (NYSE:BMA - Free Report) by 89.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,729 shares of the bank's stock after selling 33,109 shares during the period. Cubist Systematic Strategies LLC's holdings in Banco Macro were worth $214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BMA. Fourth Sail Capital LP acquired a new stake in shares of Banco Macro in the first quarter worth $9,038,000. Claro Advisors LLC purchased a new stake in shares of Banco Macro during the first quarter worth $260,000. Norden Group LLC purchased a new stake in shares of Banco Macro during the first quarter worth $261,000. Diversify Advisory Services LLC purchased a new stake in shares of Banco Macro during the first quarter worth $854,000. Finally, LSV Asset Management raised its holdings in shares of Banco Macro by 11.3% during the first quarter. LSV Asset Management now owns 64,000 shares of the bank's stock worth $3,084,000 after acquiring an additional 6,500 shares in the last quarter.

Banco Macro Stock Up 1.0 %

NYSE BMA traded up $0.76 during trading on Tuesday, hitting $74.94. 246,717 shares of the company traded hands, compared to its average volume of 355,145. Banco Macro S.A. has a 12 month low of $17.30 and a 12 month high of $76.63. The business has a fifty day simple moving average of $62.40 and a 200 day simple moving average of $58.30. 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 company has a market capitalization of $4.79 billion, a P/E ratio of 4.38 and a beta of 1.80.

Banco Macro (NYSE:BMA - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) EPS 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 return on equity of 25.97% and a net margin of 12.58%. During the same quarter in the previous year, the firm earned $2.69 EPS. As a group, sell-side analysts predict that Banco Macro S.A. will post 9.7 EPS for the current year.

Banco Macro Increases Dividend

The firm 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 is a positive change from Banco Macro's previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a dividend yield of 28.79%. Banco Macro's payout ratio is presently 127.41%.

Wall Street Analysts Forecast Growth

BMA has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Banco Macro from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $14.00 to $78.00 in a report on Friday, August 30th. StockNews.com lowered Banco Macro from a "buy" rating to a "hold" rating in a report on Thursday, September 26th. Finally, Bank of America upgraded Banco Macro from an "underperform" rating to a "neutral" rating and raised their target price for the company from $53.00 to $62.00 in a report on Thursday, August 8th.

About Banco Macro

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.