Banco Macro S.A. (BMA) To Go Ex-Dividend on August 16th

Banco Macro S.A. (NYSE:BMA) declared a monthly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Friday, August 16th will be paid a dividend of 1.798 per share by the bank on Friday, August 23rd. This represents a $21.58 dividend on an annualized basis and a dividend yield of 37.97%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from Banco Macro’s previous monthly dividend of $1.74.

Banco Macro has a payout ratio of 136.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Banco Macro to earn $8.64 per share next year, which means the company may not be able to cover its $21.57 annual dividend with an expected future payout ratio of 249.7%.

Banco Macro Stock Performance

Shares of BMA stock opened at $56.82 on Wednesday. Banco Macro has a 1-year low of $17.30 and a 1-year high of $68.24. The company has a current ratio of 0.77, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 3.36 and a beta of 1.91. The stock’s fifty day simple moving average is $55.17 and its 200-day simple moving average is $50.39.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, May 23rd. The bank reported $5.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $2.83. The firm had revenue of $1.87 billion during the quarter. Banco Macro had a return on equity of 37.91% and a net margin of 16.33%. On average, sell-side analysts predict that Banco Macro will post 11.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BMA. Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a research report on Tuesday.

Banco Macro 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 (ATMs), and money transfers.