Is It Time To Review Stock News? Banco Macro S.A. (NYSE:BMA)

 On Friday Banco Macro S.A. (NYSE:BMA) stock recorded daily change of -0.88% to close at $23.6 with the total traded volume of 245618 shares along average volume of 404317 shares 52 week range of the stock remained $ ISTR – 77.31 while its day low price was $23.21 and its hit its day high price at $23.79. Its previous closing value stands at $23.81. BMA total market capitalization is $2095549053. Currently stocks EPS is $3.99 while its price to earnings ratio is 5.91

On Nov. 8, 2019, Banco Macro S.A. (NYSE:BMA) declared its results for the third quarter ended September 30, 2019 (3Q19).  All figures are in Argentine pesos (Ps.)

Summary

  • The Bank’s net income totaled Ps.13.2 billion in 3Q19. This result was 87% higher than the Ps.7 billion posted in 2Q19 and 243% higher than in 3Q18. In 3Q19, the accumulated annualized return on average equity (ROAE) and the accumulated annualized return on average assets (ROAA) were 57.3% and 9.4%, respectively. In 3Q19 Recurring Net Income totaled Ps.15.5 billion increasing 99% or Ps.7.7 billion compared with the previous quarter. 
  • In 3Q19, Banco Macro’s financing to the private sector grew 10% or Ps.18.1 billion quarter over quarter (QoQ) totaling Ps.192.8 billion and increased 15% or Ps.24.5 billion year over year (YoY). In the quarter, growth was driven by commercial loans, among which Overdrafts stand out, with a 78% increase QoQ. Meanwhile within consumer loans, credit card loans increased 12% QoQ.
  • In 3Q19, Banco Macro’s total deposits decreased 9% or Ps.25.1 billion QoQ, totaling Ps.259.2 billion and representing 79% of the Bank’s total liabilities. Private sector deposits decreased 8% or Ps.22 billion QoQ.
  • Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.60.0 billion, 26.5% regulatory capital ratio – Basel III and 18.9% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 61% of its total deposits in 3Q19.
  • As of 3Q19, the efficiency ratio reached 32.5%, improving from the 37.6% posted in 3Q18.
  • In 3Q19, the Bank’s non-performing to total financing ratio was 1.9% and the coverage ratio reached 124.16%.

Leave a Reply

Your email address will not be published. Required fields are marked *