Short Interest in Banco Macro S.A. (NYSE:BMA) Increases By 5.0%

Banco Macro S.A. (NYSE:BMA) was the recipient of a significant increase in short interest during the month of 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. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 420,500 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Banco Macro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMA. Maple Rock Capital Partners Inc. bought a new position in Banco Macro in the 1st quarter worth approximately $23,994,000. Fourth Sail Capital LP bought a new position in Banco Macro in the 1st quarter worth approximately $9,038,000. Glenorchy Capital Ltd bought a new position in Banco Macro in the 4th quarter worth approximately $2,217,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Banco Macro by 54.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 208,944 shares of the bank’s stock worth $5,997,000 after buying an additional 73,524 shares in the last quarter. 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 worth $1,273,000 after buying an additional 53,729 shares in the last quarter.

Banco Macro Stock Up 1.8 %

NYSE:BMA opened at $63.17 on Thursday. The stock has a 50 day moving average of $58.54 and a 200-day moving average of $43.23. Banco Macro has a 52 week low of $17.30 and a 52 week high of $68.24. The company has a quick ratio of 1.05, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

Banco Macro (NYSE:BMA) last posted its earnings results on Thursday, May 23rd. The bank reported $5.02 EPS for the quarter, beating the consensus estimate of $2.19 by $2.83. The company 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%. Sell-side analysts expect that Banco Macro will post 11.83 EPS for the current year.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 17th will be issued a $1.742 dividend. This represents a $20.90 dividend on an annualized basis and a yield of 33.09%. This is a positive change from Banco Macro’s previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, June 17th. Banco Macro’s dividend payout ratio is 123.45%.

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.