Macro Bank Inc. (BMA) to Issue Monthly Dividend of $0.35 on November 24th

Macro Bank Inc. (NYSE:BMA) announced a monthly dividend on Friday, November 7th. Shareholders of record on Monday, November 17th will be paid a dividend of 0.3486 per share by the bank on Monday, November 24th. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, November 17th. This is a 14.3% increase from Macro Bank’s previous monthly dividend of $0.31.

Macro Bank has increased its dividend by an average of 0.2%annually over the last three years. Macro Bank has a dividend payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Macro Bank to earn $10.43 per share next year, which means the company should continue to be able to cover its $4.18 annual dividend with an expected future payout ratio of 40.1%.

Macro Bank Stock Down 0.2%

Shares of Macro Bank stock traded down $0.19 on Friday, hitting $82.96. The company had a trading volume of 563,212 shares, compared to its average volume of 478,441. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.59 and a beta of 1.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. Macro Bank has a 1 year low of $38.30 and a 1 year high of $118.42. The stock has a 50 day moving average of $58.89 and a 200-day moving average of $69.06.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. The company had revenue of $834.78 million during the quarter, compared to analysts’ expectations of $752.51 million. As a group, sell-side analysts forecast that Macro Bank will post 7.84 earnings per share for the current year.

Institutional Trading of Macro Bank

A number of institutional investors have recently modified their holdings of the business. Candriam S.C.A. bought a new position in Macro Bank in the 3rd quarter worth approximately $13,643,000. Cape Ann Asset Management Ltd lifted its position in shares of Macro Bank by 66.2% during the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank’s stock worth $19,505,000 after acquiring an additional 183,700 shares in the last quarter. Sagil Capital LLP bought a new position in shares of Macro Bank in the second quarter worth $10,094,000. Marshall Wace LLP grew its position in shares of Macro Bank by 4,089.3% in the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock valued at $8,439,000 after purchasing an additional 117,322 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Macro Bank during the 2nd quarter valued at $5,020,000.

Macro Bank Company Profile

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, and money transfers.