Banco Macro S.A. (NYSE:BMA - Get Free Report)'s share price shot up 5.7% on Tuesday . The stock traded as high as $85.65 and last traded at $85.80. 89,928 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 338,713 shares. The stock had previously closed at $81.20.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley upgraded Banco Macro from an "underweight" rating to an "overweight" rating and set a $12.50 price target for the company in a research report on Monday, December 16th.
View Our Latest Report on Banco Macro
Banco Macro Trading Down 2.1 %
The business has a 50 day moving average of $89.96 and a 200-day moving average of $86.15. The stock has a market cap of $5.02 billion, a PE ratio of 6.88 and a beta of 1.73. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.
Institutional Investors Weigh In On Banco Macro
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of 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 shares of Banco Macro during the 4th quarter worth $63,000. GAMMA Investing LLC boosted its holdings in shares of Banco Macro by 136.1% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank's stock worth $76,000 after purchasing an additional 452 shares during the last quarter. Blue Trust Inc. grew its position in shares of Banco Macro by 171.6% in the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank's stock valued at $188,000 after purchasing an additional 1,225 shares during the period. Finally, Burns Matteson Capital Management LLC acquired a new position in Banco Macro in the fourth quarter valued at $199,000.
About Banco Macro
(
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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.
Further Reading
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