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Banco Macro S.A. (NYSE:BMA) Short Interest Update

kopsource · Nov 16, 2022 08:33

Banco Macro S.A. (NYSE:BMA – Get Rating) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 521,200 shares, a drop of 9.0% from the October 15th total of 572,500 shares. Based on an average daily volume of 232,900 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Several brokerages have recently commented on BMA. TheStreet raised shares of Banco Macro from a "c" rating to a "b-" rating in a research report on Friday, September 16th. StockNews.com began coverage on shares of Banco Macro in a research report on Wednesday, October 12th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.70.

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Hedge Funds Weigh In On Banco Macro

A number of large investors have recently bought and sold shares of BMA. Atlas Capital Advisors LLC acquired a new stake in shares of Banco Macro in the third quarter valued at approximately $27,000. UBS Group AG increased its stake in shares of Banco Macro by 980.3% in the third quarter. UBS Group AG now owns 3,889 shares of the bank's stock valued at $56,000 after purchasing an additional 3,529 shares during the period. KBC Group NV acquired a new stake in shares of Banco Macro in the first quarter valued at approximately $75,000. Activest Wealth Management acquired a new stake in shares of Banco Macro in the third quarter valued at approximately $69,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Banco Macro by 456.9% in the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank's stock valued at $109,000 after purchasing an additional 5,167 shares during the period. Institutional investors own 5.52% of the company's stock.

Banco Macro Stock Performance

Shares of NYSE BMA opened at $13.32 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average price is $15.04 and its two-hundred day moving average price is $13.94. Banco Macro has a 52-week low of $9.72 and a 52-week high of $18.05. The stock has a market capitalization of $851.68 million, a P/E ratio of 3.20 and a beta of 1.25.

Banco Macro (NYSE:BMA – Get Rating) last issued its 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). Banco Macro had a return on equity of 10.70% and a net margin of 9.30%. The business had revenue of $552.75 million during the quarter, compared to the consensus estimate of $404.78 million. As a group, sell-side analysts forecast that Banco Macro will post 3.35 earnings per share for the current year.

Banco Macro Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 25th will be issued a $0.0787 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.94 dividend on an annualized basis and a yield of 7.09%. Banco Macro's dividend payout ratio is currently 24.52%.

About Banco Macro

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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.