Banco Macro S.A. (NYSE:BMA - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $92.98, but opened at $96.24. Banco Macro shares last traded at $104.80, with a volume of 220,843 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Morgan Stanley upgraded Banco Macro from an "underweight" rating to an "overweight" rating and set a $12.50 price objective for the company in a research report on Monday. JPMorgan Chase & Co. raised shares of Banco Macro from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. Finally, StockNews.com cut shares of Banco Macro from a "buy" rating to a "hold" rating in a research note on Thursday, September 26th.
View Our Latest Analysis on BMA
Banco Macro Trading Up 14.9 %
The company has a market cap of $6.83 billion, a price-to-earnings ratio of 9.13 and a beta of 1.75. The firm has a fifty day moving average price of $79.26 and a 200 day moving average price of $65.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02.
Hedge Funds Weigh In On Banco Macro
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC increased its position in Banco Macro by 6.2% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank's stock worth $316,000 after purchasing an additional 323 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank's stock worth $45,000 after acquiring an additional 387 shares during the period. Sigma Planning Corp increased its position in Banco Macro by 6.7% during the 3rd quarter. Sigma Planning Corp now owns 6,275 shares of the bank's stock valued at $398,000 after purchasing an additional 395 shares during the period. Diversify Wealth Management LLC raised its holdings in Banco Macro by 4.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 16,657 shares of the bank's stock worth $1,058,000 after purchasing an additional 693 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Banco Macro in the 2nd quarter worth approximately $51,000.
About Banco Macro
(
Get Free Report)
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, and money transfers.
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