Banco Macro (NYSE:BMA) Trading Down 5.6% - Time to Sell?

Banco Macro S.A. (NYSE:BMA - Get Free Report)'s share price fell 5.6% on Tuesday . The company traded as low as $92.00 and last traded at $90.06. 15,311 shares traded hands during trading, a decline of 96% from the average session volume of 353,872 shares. The stock had previously closed at $95.40.

Analysts Set New Price Targets

Separately, 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, December 16th.

Banco Macro Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The company has a market cap of $5.88 billion, a PE ratio of 8.07 and a beta of 1.67. The company has a 50-day moving average of $100.82 and a 200 day moving average of $79.63.

Banco Macro (NYSE:BMA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 27th. The bank reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.70). Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. Analysts predict that Banco Macro S.A. will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Banco Macro

Several institutional investors have recently bought and sold shares of BMA. Blue Trust Inc. increased its holdings in Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank's stock valued at $45,000 after buying an additional 387 shares during the period. Tower Research Capital LLC TRC increased its holdings in Banco Macro by 1,829.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock valued at $58,000 after buying an additional 567 shares during the period. SBI Securities Co. Ltd. purchased a new position in Banco Macro during the fourth quarter valued at approximately $63,000. GAMMA Investing LLC increased its holdings in Banco Macro by 136.1% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank's stock valued at $76,000 after buying an additional 452 shares during the period. Finally, Burns Matteson Capital Management LLC purchased a new position in Banco Macro during the fourth quarter valued at approximately $199,000.

Banco Macro Company Profile

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.