Banco Macro SA ADR (NYSE:BMA) announced an annual dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Monday, May 13th will be paid a dividend of 2.249 per share by the bank on Tuesday, May 21st. This represents a yield of 4.69%. The ex-dividend date of this dividend is Friday, May 10th.
Banco Macro has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banco Macro to earn $9.57 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 20.7%.
Shares of NYSE:BMA opened at $47.98 on Tuesday. Banco Macro has a 52-week low of $32.00 and a 52-week high of $85.00. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.37 and a beta of 0.66.
Banco Macro (NYSE:BMA) last issued its quarterly earnings data on Friday, March 8th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.32. Banco Macro had a net margin of 22.36% and a return on equity of 27.90%. The company had revenue of $430.53 million during the quarter. Equities research analysts forecast that Banco Macro will post 9.4 EPS for the current fiscal year.
Several brokerages have issued reports on BMA. ValuEngine downgraded shares of Banco Macro from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Santander raised shares of Banco Macro from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Zacks Investment Research raised shares of Banco Macro from a “sell” rating to a “strong-buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, April 23rd. Finally, Citigroup raised shares of Banco Macro from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $52.00.
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Banco Macro Company Profile
Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail 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.
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