Brevan Howard Capital Management 13F: Adds $2.9M to BMA Stake

Brevan Howard Capital Management has significantly increased its investment in Banco Macro S.A. (NYSE: BMA), according to its latest 13F filing with the SEC. As of the reporting period, the firm added 31,562 shares, boosting its total holdings by 46.9% to 98,862 shares. The position is now valued at approximately $9.76 million.

What Changed in Brevan Howard's Banco Macro Position

Brevan Howard's decision to increase its stake in Banco Macro by 31,562 shares underscores a notable vote of confidence. The firm previously held 67,300 shares and has now elevated its total to 98,862 shares, marking a 46.9% increase. The reported value of this position is about $9.76 million.

Other Institutional Activity in Banco Macro

Other institutional investors have also been active in Banco Macro. BlackRock, Inc. grew its holdings by 167,951 shares, ending with 752,714 shares valued at about $58.24 million. Meanwhile, PointState Capital LP reduced its position by 146,995 shares, holding 710,493 shares worth approximately $54.97 million. Samlyn Capital, LLC also trimmed its stake by 100,201 shares, resulting in 546,540 shares valued at $42.29 million. Morgan Stanley, on the other hand, increased its holdings by 60,130 shares, bringing its total to 485,446 shares valued at $37.56 million.

Banco Macro S.A. Stock Up 23.4%

Shares of Banco Macro (NYSE: BMA) traded near $98.71. The company has a market cap of about $6.31 billion, with a P/E ratio of 24.43 and a forward P/E of 9.46. The stock's beta is 0.504, indicating lower volatility compared to the market. Banco Macro's 52-week range spans from $38.3 to $106.15, with a 50-day moving average of $79.34 and a 200-day moving average of $76.16.

Recent Earnings

Banco Macro reported revenue of approximately $4.06 trillion, with a slight revenue decline of 3.3%. The company achieved a net margin of 7.12% and a return on equity of 5.5%. The next earnings report is expected on August 26, 2026.

Dividend

Banco Macro offers an annual dividend rate of $5.32, yielding about 5.39%. The dividend payout ratio is 79.11%, indicating a substantial return of earnings to shareholders.

Analysts Set New Price Targets

Analysts have been actively updating their outlook on Banco Macro. On May 5, 2026, HSBC upgraded the stock to a 'buy' rating with a price target of $85. Goldman Sachs maintained its 'buy' rating with a $98 price target on March 2, 2026. The consensus among analysts is a 'strong buy', with a mean price target of $113.40 based on nine opinions.

About Banco Macro

Banco Macro S.A. is a regional bank in Argentina, offering a range of banking products and services to both retail and corporate clients. Headquartered in Buenos Aires, the bank is led by CEO Mr. Juan Martin Parma and employs around 8,490 people. It provides various financial services including savings and checking accounts, loans, and credit cards, as well as corporate banking and investment products.

Bottom Line

Brevan Howard's significant increase in Banco Macro holdings reflects growing interest in the company among institutional investors. While the 13F filing provides a snapshot of past activity, it's important to remember that these filings are backward-looking and may not represent the current position. Investors often track these filings to gauge institutional sentiment and potential future moves.