Banco Macro S.A. (NYSE:BMA) Declares $0.43 Monthly Dividend

Banco Macro S.A. (NYSE:BMA) declared a monthly dividend on Monday, September 11th, Wall Street Journal reports. Investors of record on Thursday, September 21st will be given a dividend of 0.4262 per share by the bank on Thursday, September 28th. This represents a $5.11 dividend on an annualized basis and a yield of 20.90%. The ex-dividend date is Wednesday, September 20th.

Banco Macro has decreased its dividend by an average of 28.9% annually over the last three years. Banco Macro has a payout ratio of 1.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Macro to earn $1.50 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 5.3%.

Banco Macro Stock Up 3.6 %

NYSE:BMA opened at $24.47 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.73. Banco Macro has a fifty-two week low of $12.38 and a fifty-two week high of $28.07. The firm has a 50-day simple moving average of $24.75 and a two-hundred day simple moving average of $21.66.

Banco Macro (NYSE:BMA) last announced its quarterly earnings results on Wednesday, August 23rd. The bank reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.25). Banco Macro had a return on equity of 13.11% and a net margin of 7.07%. The company had revenue of $840.39 million during the quarter. On average, analysts forecast that Banco Macro will post 4.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Banco Macro in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On Banco Macro

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. purchased a new stake in shares of Banco Macro during the first quarter worth about $361,000. JPMorgan Chase & Co. grew its holdings in Banco Macro by 456.9% during the 1st quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank’s stock valued at $109,000 after buying an additional 5,167 shares in the last quarter. BlackRock Inc. raised its position in shares of Banco Macro by 3.7% during the first quarter. BlackRock Inc. now owns 20,798 shares of the bank’s stock valued at $360,000 after buying an additional 747 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Banco Macro by 77.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 163,609 shares of the bank’s stock worth $2,830,000 after buying an additional 71,205 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Banco Macro during the first quarter worth $2,595,000.

About Banco Macro

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.