Banco Macro S.A. (NYSE:BMA – Get Free Report) shares dropped 2.9% on Wednesday . The company traded as low as $55.65 and last traded at $56.00. Approximately 121,383 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 367,762 shares. The stock had previously closed at $57.68.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on BMA shares. Bank of America raised shares of Banco Macro from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th.
Banco Macro Stock Performance
Banco Macro (NYSE:BMA – Get Free Report) last announced its earnings results on Thursday, May 23rd. The bank reported $5.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $2.83. The firm had revenue of $1.87 billion for the quarter. Banco Macro had a net margin of 16.33% and a return on equity of 37.91%. On average, equities research analysts forecast that Banco Macro S.A. will post 11.83 EPS for the current year.
Banco Macro Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 16th will be given a dividend of $1.798 per share. This is a boost from Banco Macro’s previous monthly dividend of $1.74. This represents a $21.58 dividend on an annualized basis and a yield of 38.30%. The ex-dividend date is Friday, August 16th. Banco Macro’s dividend payout ratio (DPR) is 127.41%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in Banco Macro in the first quarter worth about $33,000. Ashton Thomas Private Wealth LLC purchased a new position in Banco Macro in the second quarter worth about $51,000. Shilanski & Associates Inc. purchased a new position in Banco Macro in the second quarter worth about $244,000. Claro Advisors LLC purchased a new position in Banco Macro in the first quarter worth about $260,000. Finally, Norden Group LLC purchased a new position in Banco Macro in the first quarter worth about $261,000.
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.
Read More
- Five stocks we like better than Banco Macro
- Industrial Products Stocks Investing
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- How is Compound Interest Calculated?
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
Receive News & Ratings for Banco Macro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Macro and related companies with MarketBeat.com's FREE daily email newsletter.