Banco Macro S.A. (NYSE:BMA) Short Interest Update

Banco Macro S.A. (NYSE:BMA) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 832,100 shares, an increase of 11.6% from the May 31st total of 745,500 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 436,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

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

Banco Macro Trading Up 1.4 %

NYSE BMA traded up $0.79 on Wednesday, hitting $55.60. 153,134 shares of the company’s stock were exchanged, compared to its average volume of 401,076. Banco Macro has a 52 week low of $17.30 and a 52 week high of $68.24. The stock has a 50-day moving average of $59.80 and a 200-day moving average of $45.24. 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 released its quarterly earnings data on Thursday, May 23rd. The bank reported $5.02 earnings per share for the quarter, beating the consensus estimate of $2.19 by $2.83. The business had revenue of $1.87 billion for the quarter. Banco Macro had a return on equity of 37.91% and a net margin of 16.33%. On average, analysts expect that Banco Macro will post 11.83 EPS for the current fiscal year.

Banco Macro Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 17th were given a dividend of $1.742 per share. This represents a $20.90 dividend on an annualized basis and a yield of 37.60%. This is a boost from Banco Macro’s previous monthly dividend of $0.43. The ex-dividend date of this dividend was Monday, June 17th. Banco Macro’s dividend payout ratio is currently 123.45%.

Hedge Funds Weigh In On Banco Macro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maple Rock Capital Partners Inc. acquired a new position in shares of Banco Macro during the first quarter worth $23,994,000. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 73,524 shares in the last quarter. Fourth Sail Capital LP bought a new position in Banco Macro in the first quarter valued at about $9,038,000. Glenorchy Capital Ltd acquired a new stake in shares of Banco Macro during the fourth quarter valued at about $2,217,000. Finally, Quadrature Capital Ltd grew its holdings in shares of Banco Macro by 498.7% during the third quarter. Quadrature Capital Ltd now owns 64,502 shares of the bank’s stock worth $1,273,000 after purchasing an additional 53,729 shares during the last quarter.

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.