Banco Macro S.A. (NYSE:BMA – Get Rating) declared a monthly dividend on Tuesday, November 15th, Wall Street Journal reports. Investors of record on Friday, November 25th will be given a dividend of 0.0787 per share by the bank on Friday, December 2nd. This represents a $0.94 annualized dividend and a yield of 7.20%. The ex-dividend date is Wednesday, November 23rd.
Banco Macro has a dividend payout ratio of 1.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banco Macro to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 1.9%.
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Banco Macro Price Performance
Shares of NYSE BMA opened at $13.10 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79. The company's 50-day moving average is $14.99 and its 200 day moving average is $13.93. Banco Macro has a 1 year low of $9.72 and a 1 year high of $18.05. The stock has a market capitalization of $837.61 million, a P/E ratio of 3.15 and a beta of 1.25.
Banco Macro (NYSE:BMA – Get Rating) last released its quarterly earnings results on Wednesday, August 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.10). The firm had revenue of $552.75 million during the quarter, compared to analysts' expectations of $404.78 million. Banco Macro had a return on equity of 10.70% and a net
margin of 9.30%. On average, sell-side analysts expect that Banco Macro will post 3.35 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on BMA shares. StockNews.com started coverage on Banco Macro in a report on Wednesday, October 12th. They issued a "buy" rating on the stock. TheStreet upgraded Banco Macro from a "c" rating to a "b-" rating in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $17.70.
Institutional Investors Weigh In On Banco Macro
Large investors have recently made changes to their positions in the stock. UBS Group AG grew its holdings in shares of Banco Macro by 980.3% during the third quarter. UBS Group AG now owns 3,889 shares of the bank's stock valued at $56,000 after buying an additional 3,529 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Banco Macro in the second quarter valued at $382,000. Renaissance Technologies LLC purchased a new stake in Banco Macro in the second quarter valued at $134,000. BNP Paribas Arbitrage SA raised its position in shares of Banco Macro by 18.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 60,688 shares of the bank's stock worth $680,000 after purchasing an additional 9,334 shares during the last quarter. Finally, Eaton Vance Management acquired a new position in shares of Banco Macro during the 1st quarter worth about $3,724,000. 5.52% of the stock is owned by hedge funds and other institutional investors.
Banco Macro Company Profile
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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.
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