Banco Macro S.A. - ADR (BMA) Declares $0.45 Dividend

Banco Macro S.A. - ADR said on July 7, 2023 that its board of directors declared a regular monthly dividend of $0.45 per share ($5.35 annualized). Previously, the company paid $0.08 per share.

Shareholders of record as of July 18, 2023 will receive the payment on July 24, 2023.

At the current share price of $24.93 / share, the stock's dividend yield is 21.44%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.63%, the lowest has been 0.94%, and the highest has been 6.46%. The standard deviation of yields is 1.48 (n=236).

The current dividend yield is 12.01 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.02. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 47 funds or institutions reporting positions in Banco Macro S.A. - ADR. This is an increase of 3 owner(s) or 6.82% in the last quarter. Average portfolio weight of all funds dedicated to BMA is 0.22%, a decrease of 14.90%. Total shares owned by institutions increased in the last three months by 4.35% to 3,896K shares. The put/call ratio of BMA is 0.19, indicating a bullish outlook.

Analyst Price Forecast Suggests 7.58% Downside

As of March 30, 2023, the average one-year price target for Banco Macro S.A. - ADR is 23.04. The forecasts range from a low of 7.60 to a high of $40.11. The average price target represents a decrease of 7.58% from its latest reported closing price of 24.93.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Banco Macro S.A. - ADR is 290,697MM, a decrease of 45.29%. The projected annual non-GAAP EPS is 79.15.

What are Other Shareholders Doing?

Odey Asset Management Group holds 1,242K shares representing 0.19% ownership of the company. In it's prior filing, the firm reported owning 1,196K shares, representing an increase of 3.72%. The firm decreased its portfolio allocation in BMA by 2.03% over the last quarter.

Discovery Capital Management holds 439K shares representing 0.07% ownership of the company. In it's prior filing, the firm reported owning 426K shares, representing an increase of 2.85%. The firm decreased its portfolio allocation in BMA by 12.90% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 368K shares representing 0.06% ownership of the company. No change in the last quarter.

D. E. Shaw holds 162K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 42K shares, representing an increase of 73.80%. The firm increased its portfolio allocation in BMA by 301.09% over the last quarter.

Citadel Advisors holds 162K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 136K shares, representing an increase of 15.80%. The firm increased its portfolio allocation in BMA by 5.23% over the last quarter.

Banco Macro Background Information
(This description is provided by the company.)

Banco Macro is the second largest domestically-owned private bank in Argentina, and the sixth-largest by deposits and lending.

Additional reading:

• List of subsidiaries of the Bank as of December 31, 2022.
• List of subsidiaries of the Bank as of December 31, 2021.
• List of subsidiaries of the Bank as of December 31, 2020.
• List of subsidiaries of the Bank as of December 31, 2019.
• List of subsidiaries of the Bank as of December 31, 2018.

This story originally appeared on Fintel.