Banco Macro S.A. (NYSE:BMA – Get Free Report) announced a — dividend on Friday, July 12th, Wall Street Journal reports. Investors of record on Monday, July 22nd will be paid a dividend of 1.7446 per share by the bank on Monday, July 29th. The ex-dividend date is Monday, July 22nd. This is a boost from Banco Macro’s previous — dividend of $0.60.
Banco Macro has a dividend payout ratio of 132.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Banco Macro to earn $8.64 per share next year, which means the company may not be able to cover its $21.14 annual dividend with an expected future payout ratio of 244.7%.
Banco Macro Stock Performance
Shares of BMA opened at $54.81 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 0.77. Banco Macro has a fifty-two week low of $17.30 and a fifty-two week high of $68.24. The company’s fifty day moving average is $59.02 and its 200 day moving average is $47.44.
Analysts Set New Price Targets
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.
Get Our Latest Stock Analysis on Banco Macro
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.
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