Macro Bank Inc. (BMA) to Issue Monthly Dividend of $0.36 on December 23rd

Macro Bank Inc. (NYSE:BMA) announced a monthly dividend on Friday, December 5th. Investors of record on Tuesday, December 16th will be paid a dividend of 0.3585 per share by the bank on Tuesday, December 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, December 16th. This is a 2.8% increase from Macro Bank’s previous monthly dividend of $0.35.

Macro Bank has increased its dividend by an average of 0.2%per year over the last three years. Macro Bank has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Macro Bank to earn $10.43 per share next year, which means the company should continue to be able to cover its $4.30 annual dividend with an expected future payout ratio of 41.2%.

Macro Bank Trading Down 2.9%

NYSE BMA opened at $86.86 on Friday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 39.30, a price-to-earnings-growth ratio of 1.62 and a beta of 1.46. Macro Bank has a one year low of $38.30 and a one year high of $118.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 1.16. The company’s 50-day simple moving average is $74.34 and its two-hundred day simple moving average is $67.85.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Wednesday, November 26th. The bank reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.06). Macro Bank had a return on equity of 8.15% and a net margin of 6.11%.The firm had revenue of $668.70 million during the quarter, compared to analysts’ expectations of $590.57 million. Equities analysts forecast that Macro Bank will post 7.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on BMA shares. Hsbc Global Res raised shares of Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings lowered Macro Bank from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday. Citigroup upgraded Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $104.00 to $80.00 in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Macro Bank from $79.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.50.

About Macro Bank

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.