Banco Macro S.A. (NYSE:BMA – Get Rating) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 334,200 shares, a decline of 22.1% from the May 31st total of 428,800 shares. Based on an average daily volume of 220,600 shares, the days-to-cover ratio is presently 1.5 days.
A number of brokerages have recently issued reports on BMA. Grupo Santander raised Banco Macro from a “hold” rating to an “outperform” rating in a research note on Monday, June 13th. StockNews.com raised Banco Macro from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 13th.
Several hedge funds and other institutional investors have recently made changes to their positions in BMA. Discovery Capital Management LLC CT lifted its stake in Banco Macro by 149.0% in the fourth quarter. Discovery Capital Management LLC CT now owns 523,152 shares of the bank’s stock valued at $7,335,000 after purchasing an additional 313,048 shares during the last quarter. Autonomy Capital Jersey L.P. lifted its stake in Banco Macro by 28.8% in the fourth quarter. Autonomy Capital Jersey L.P. now owns 242,921 shares of the bank’s stock valued at $3,406,000 after purchasing an additional 54,316 shares during the last quarter. Eaton Vance Management purchased a new position in Banco Macro in the first quarter valued at approximately $3,724,000. Marathon Asset Management LP purchased a new stake in shares of Banco Macro during the fourth quarter worth $2,804,000. Finally, Light Sky Macro LP bought a new position in shares of Banco Macro in the fourth quarter worth $2,445,000. Hedge funds and other institutional investors own 6.75% of the company’s stock.
Shares of NYSE BMA traded up $0.43 during midday trading on Monday, reaching $11.63. The company’s stock had a trading volume of 5,073 shares, compared to its average volume of 239,867. Banco Macro has a 12-month low of $10.93 and a 12-month high of $21.20. The firm has a 50 day moving average price of $14.17 and a 200-day moving average price of $14.74. The stock has a market capitalization of $743.63 million, a P/E ratio of 2.91 and a beta of 1.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.84 and a quick ratio of 0.97.
The firm also recently announced an annual dividend, which was paid on Monday, June 6th. Stockholders of record on Monday, June 6th were paid a $0.69 dividend. The ex-dividend date was Friday, June 3rd. This represents a dividend yield of 4.54%. Banco Macro’s payout ratio is presently 17.25%.
Banco Macro Company Profile (Get Rating)
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.
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