Banco Macro S.A. (NYSE:BMA) Sees Large Increase in Short Interest

Banco Macro S.A. (NYSE:BMA) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 745,500 shares, an increase of 5.0% from the May 15th total of 709,900 shares. Based on an average trading volume of 420,500 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Banco Macro from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 15th.

Institutional Trading of Banco Macro

Several institutional investors and hedge funds have recently bought and sold shares of the business. Maple Rock Capital Partners Inc. purchased a new position in shares of Banco Macro during the 1st quarter valued at approximately $23,994,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Banco Macro by 54.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 208,944 shares of the bank’s stock worth $5,997,000 after purchasing an additional 73,524 shares during the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Banco Macro in the first quarter valued at approximately $9,038,000. Glenorchy Capital Ltd acquired a new position in Banco Macro during the fourth quarter worth $2,217,000. Finally, Quadrature Capital Ltd grew its holdings in Banco Macro by 498.7% in the 3rd quarter. Quadrature Capital Ltd now owns 64,502 shares of the bank’s stock valued at $1,273,000 after buying an additional 53,729 shares in the last quarter.

Banco Macro Stock Up 1.8 %

BMA traded up $1.13 during trading on Tuesday, hitting $63.17. 428,525 shares of the stock traded hands, compared to its average volume of 408,072. The firm has a 50-day moving average of $58.06 and a 200 day moving average of $42.84. Banco Macro has a 12-month low of $17.30 and a 12-month 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.

Banco Macro (NYSE:BMA) last posted its quarterly earnings data 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. Banco Macro had a return on equity of 37.91% and a net margin of 16.33%. The firm had revenue of $1.87 billion for the quarter. Research analysts anticipate that Banco Macro will post 11.83 earnings per share for the current year.

Banco Macro Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 17th will be given a dividend of $1.742 per share. This is an increase from Banco Macro’s previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, June 17th. This represents a $20.90 dividend on an annualized basis and a yield of 33.09%. Banco Macro’s dividend payout ratio (DPR) is 16.54%.

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.