UBS says the investment bank’s 80 per cent payout ratio is “unsustainable” and adds the stock is not a “buy”.

Ouch. UBS reckons Macquarie Group’s 80 per cent payout ratio is “unsustainable”.  Analysts at the Swiss bank have downgraded the stock to “neutral” from “buy”. They value the shares at $43.79.

But at 1:30 p.m AEST Macquarie had risen 53 cents, or 1.14 per cent, to $46.9. The stock has gained 78 per cent in 12 months.



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