Bank Macro SA (NYSE: BMA- Get a rating) announced a monthly dividend on Friday, September 16, the wall street journal reports. Shareholders of record on Monday, September 26 will receive a dividend of 0.0821 per share from the bank on Monday, October 3. This represents a dividend of $0.98 on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Friday, September 23.
Banco Macro has a dividend payout ratio of 1.6%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Banco Macro to earn $3.00 per share next year, meaning the company should continue to be able to cover its $0.08 annual dividend with a payout ratio expected future of 2.7%.
Performance of Banco Macro shares
BMA traded $0.03 on Friday, reaching $16.36. The company had a trading volume of 193,045 shares, compared to an average volume of 255,579. Banco Macro has a fifty-two-week low of $9.72 and a fifty-two-week high of $19.92. The stock has a market capitalization of $1.05 billion, a P/E ratio of 3.87 and a beta of 1.39. The company’s fifty-day moving average is $13.24 and its 200-day moving average is $14.35. The company has a debt ratio of 0.16, a quick ratio of 0.84 and a current ratio of 0.80.
A Wall Street analyst gives his opinion
A number of brokerages have recently commented on BMA. Grupo Santander upgraded Banco Macro shares from a “hold” rating to an “outperform” rating in a Monday, June 13 research rating. StockNews.com upgraded Banco Macro shares from a “hold” rating to a “buy” rating in a research report on Saturday, August 27.
Banco Macro Institutional Negotiation
Several large investors have recently changed their positions in the company. BlackRock Inc. increased its stake in Banco Macro by 3.7% in the 1st quarter. BlackRock Inc. now owns 20,798 shares of the bank valued at $360,000 after purchasing an additional 747 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Banco Macro shares by 456.9% in the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank valued at $109,000 after acquiring 5,167 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Banco Macro by 15.7% during the first quarter. BNP Paribas Arbitrage SA now owns 51,354 shares in the bank worth $888,000 after buying an additional 6,963 shares in the last quarter. UBS Group AG increased its stake in Banco Macro by 3,316.4% during the first quarter. UBS Group AG now owns 12,299 shares in the bank worth $213,000 after buying an additional 11,939 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Banco Macro during the second quarter worth $134,000. Institutional investors and hedge funds hold 5.52% of the company’s shares.
About Banco Macro
Banco Macro SA provides various banking products and services to individuals and businesses in Argentina. It offers various retail banking products and services, such as savings and checking accounts, term deposits, credit and debit cards, consumer loans, mortgages, auto loans, overdrafts , credit-related services, home and auto insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.
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