Macro Bank Inc. (NYSE:BMA) Announces Monthly Dividend of $0.31

Key Points

• Macro Bank Inc. has declared a monthly dividend of $0.31, set to be paid on October 27th to investors of record on October 20th, reflecting an annualized yield of 7.1%.
• Recently, BMA stock experienced a notable increase, trading at $51.43 with a market capitalization of $3.29 billion and a PE ratio of 4.51.
• Despite missing earnings expectations for the latest quarter, Macro Bank reported quarterly revenue of $834.78 million, exceeding analyst estimates.

Macro Bank Inc. (NYSE:BMA - Get Free Report) announced a monthly dividend on Wednesday, October 8th. Investors of record on Monday, October 20th will be paid a dividend of 0.3051 per share by the bank on Monday, October 27th. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date is Monday, October 20th.

Macro Bank Stock Performance

BMA stock traded up $7.55 during trading on Thursday, reaching $51.43. 1,814,480 shares of the company's stock were exchanged, compared to its average volume of 787,005. Macro Bank has a 1-year low of $38.30 and a 1-year high of $118.42. The company's fifty day moving average price is $55.45 and its 200-day moving average price is $70.81. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.29 billion, a PE ratio of 4.51, a P/E/G ratio of 0.82 and a beta of 1.54.

Macro Bank (NYSE:BMA - Get Free Report) last released its earnings results on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.99 by ($0.04). The firm had revenue of $834.78 million for the quarter, compared to analyst estimates of $752.51 million. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%. On average, research analysts expect that Macro Bank will post 7.84 EPS for the current fiscal year.

Institutional Trading of Macro Bank

A number of institutional investors and hedge funds have recently modified their holdings of BMA. GAMMA Investing LLC boosted its position in shares of Macro Bank by 31.3% during the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after buying an additional 245 shares during the period. ABS Direct Equity Fund LLC bought a new stake in shares of Macro Bank in the 1st quarter valued at about $310,000. Insigneo Advisory Services LLC boosted its stake in shares of Macro Bank by 64.0% during the 1st quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank's stock worth $315,000 after acquiring an additional 1,629 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Macro Bank in the first quarter valued at about $557,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Macro Bank during the 1st quarter worth approximately $31,000.

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.

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