Banco Macro S.A. (NYSE:BMA) Short Interest Up 11.6% in June

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

Banco Macro Price Performance

NYSE:BMA traded up $0.79 during trading hours on Wednesday, hitting $55.60. The stock had a trading volume of 153,434 shares, compared to its average volume of 401,078. Banco Macro has a 1-year low of $17.30 and a 1-year 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. The business has a 50 day simple moving average of $59.80 and a two-hundred day simple moving average of $45.24.

Banco Macro (NYSE:BMA) last released its quarterly earnings results on Thursday, May 23rd. The bank reported $5.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $2.83. Banco Macro had a net margin of 16.33% and a return on equity of 37.91%. The business had revenue of $1.87 billion during the quarter. Analysts expect that Banco Macro will post 11.83 EPS for the current year.

Banco Macro Increases Dividend

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

Hedge Funds Weigh In On Banco Macro

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Banco Macro by 54.3% during the fourth 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. Hsbc Holdings PLC bought a new position in Banco Macro during the fourth quarter worth $1,475,000. Penserra Capital Management LLC bought a new position in Banco Macro during the third quarter worth $364,000. Glenorchy Capital Ltd bought a new position in Banco Macro during the fourth quarter worth $2,217,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Banco Macro during the fourth quarter worth $1,462,000.

Analyst Ratings Changes

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

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.