Banco Macro SA plans a monthly dividend of $0.08 (NYSE: BMA)

Bank Macro SA (NYSE:BMA – Get Rating) declared a monthly dividend on Tuesday, November 15, The Wall Street Journal reports. Shareholders of record on Friday, November 25 will receive a dividend of 0.0787 per share from the bank on Friday, December 2. This represents a dividend of $0.94 on an annualized basis and a yield of 7.09%. The ex-date of this dividend is Wednesday, November 23.

Banco Macro has a dividend payout ratio of 1.7%, which means its dividend is sufficiently covered by earnings. Research analysts expect Banco Macro to earn $4.31 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.08 with a ratio of expected future payout of 1.9%.

Banco Macro is trading down 2.7%

Banco Macro stock traded down $0.37 during trading hours on Tuesday, hitting $13.32. The company had a trading volume of 225,802 shares, compared to an average volume of 244,625. The company has a leverage ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79. Banco Macro has a 12-month low of $9.72 and a 12-month high of $18.05. The company has a market capitalization of $851.69 million, a price-earnings ratio of 3.26 and a beta of 1.25. The company has a 50-day moving average price of $15.07 and a 200-day moving average price of $13.95.

Banco Macro (NYSE:BMA – Get Rating) last released its results on Wednesday August 24th. The bank reported earnings per share (EPS) of $0.52 for the quarter, missing the consensus estimate of $0.62 per ($0.10). Banco Macro posted a net margin of 9.30% and a return on equity of 10.70%. The company posted revenue of $552.75 million for the quarter, compared to $404.78 million expected by analysts. Stock analysts expect Banco Macro to post earnings per share of 3.35 for the current year.

Institutional entries and exits

A number of hedge funds and other institutional investors have recently changed their holdings in BMA. UBS Group AG increased its equity stake in Banco Macro by 980.3% during the third quarter. UBS Group AG now owns 3,889 shares in the bank valued at $56,000 after buying an additional 3,529 shares last quarter. JPMorgan Chase & Co. increased its position in Banco Macro by 456.9% during 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. Renaissance Technologies LLC acquired a new stake in Banco Macro during the second quarter at a value of $134,000. Engineers Gate Manager LP acquired a new stake in Banco Macro during the first quarter worth $253,000. Finally, BlackRock Inc. increased its position in Banco Macro by 3.7% during the first quarter. BlackRock Inc. now owns 20,798 shares of the bank valued at $360,000 after acquiring 747 additional shares in the last quarter. 5.52% of the shares are held by institutional investors.

Analysts set new price targets

Several research companies have recently published reports on BMA. TheStreet upgraded Banco Macro from a “c” to a “b-” rating in a Friday, September 16 research note. StockNews.com supported Banco Macro’s coverage in a Wednesday, October 12 research note. They issued a “buy” rating on the stock. One equity research analyst has assigned the stock a sell rating, one has issued a hold rating and two have assigned the company’s stock a buy rating. According to MarketBeat, Banco Macro has an average rating of “Hold” and a consensus target price of $17.70.

About Banco Macro

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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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Dividend history for Banco Macro (NYSE:BMA)

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