StockNews.com Initiates Coverage on Banco Macro (NYSE:BMA)

StockNews.com started coverage on shares of Banco Macro (NYSE:BMA – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the bank’s stock.

Banco Macro Stock Down 5.4 %

Banco Macro stock opened at $17.13 on Thursday. Banco Macro has a 12-month low of $9.72 and a 12-month high of $23.15. The company has a 50-day moving average price of $20.51 and a 200 day moving average price of $16.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.71 and a current ratio of 0.72.

Banco Macro Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, January 4th. Investors of record on Tuesday, December 27th were given a dividend of $0.0787 per share. This represents a $0.94 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend was Friday, December 23rd. Banco Macro’s payout ratio is currently 25.89%.

Institutional Investors Weigh In On Banco Macro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new stake in Banco Macro during the third quarter worth about $27,000. UBS Group AG increased its position in shares of Banco Macro by 980.3% during the third quarter. UBS Group AG now owns 3,889 shares of the bank’s stock valued at $56,000 after acquiring an additional 3,529 shares during the last quarter. Activest Wealth Management acquired a new stake in shares of Banco Macro during the third quarter valued at about $69,000. JPMorgan Chase & Co. increased its position in shares of Banco Macro by 456.9% during the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank’s stock valued at $109,000 after acquiring an additional 5,167 shares during the last quarter. Finally, Trium Capital LLP acquired a new stake in shares of Banco Macro during the fourth quarter valued at about $170,000. 4.87% of the stock is currently owned by institutional investors and hedge funds.

About Banco Macro

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Banco Macro SA engages in the provision of financial and banking services. It serves the low and mid-income individuals, and small and mid-sized companies. The firm offers savings, checking accounts, time deposits, fund management, loans, mortgages, and direct banking transactions. The company was founded on November 21, 1966 and is headquartered in Buenos Aires, Argentina.