Macro Bank Inc. Announces -- Dividend of $0.40 (NYSE:BMA)

Macro Bank Inc. (NYSE:BMA - Get Free Report) announced a -- dividend on Thursday, July 10th, Wall Street Journal reports. Investors of record on Friday, July 18th will be given a dividend of 0.3985 per share by the bank on Friday, July 25th. This represents a yield of 9.2%. The ex-dividend date is Friday, July 18th.

Macro Bank Trading Down 3.3%

NYSE:BMA traded down $2.23 during trading hours on Friday, hitting $65.84. The company had a trading volume of 467,148 shares, compared to its average volume of 319,194. The company has a market capitalization of $4.21 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 0.27 and a beta of 1.60. The stock has a 50-day moving average price of $79.93 and a 200 day moving average price of $87.24. Macro Bank has a 52 week low of $42.23 and a 52 week high of $118.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($1.11). The company had revenue of $759.36 million during the quarter, compared to the consensus estimate of $837.49 billion. Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. On average, equities research analysts predict that Macro Bank will post 7.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Macro Bank

Several hedge funds and other institutional investors have recently made changes to their positions in BMA. Jones Financial Companies Lllp lifted its position in Macro Bank by 271,350.0% in the first quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank's stock worth $410,000 after buying an additional 5,427 shares during the last quarter. Jane Street Group LLC lifted its position in Macro Bank by 106.5% in the first quarter. Jane Street Group LLC now owns 13,705 shares of the bank's stock worth $1,035,000 after buying an additional 7,067 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Macro Bank in the first quarter worth $704,000. Finally, Goldman Sachs Group Inc. lifted its position in Macro Bank by 47.8% in the first quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank's stock worth $5,045,000 after buying an additional 21,613 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BMA shares. Itau BBA Securities started coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $62.13.

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.