EverSource Wealth Advisors LLC Takes Position in Banco Macro S.A. (NYSE:BMA)

EverSource Wealth Advisors LLC purchased a new stake in shares of Banco Macro S.A. (NYSE:BMA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,300 shares of the bank's stock, valued at approximately $416,000.

Several other hedge funds have also added to or reduced their stakes in BMA. SBI Securities Co. Ltd. acquired a new position in Banco Macro during the 4th quarter valued at about $63,000. GAMMA Investing LLC lifted its position in Banco Macro by 136.1% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank's stock valued at $76,000 after purchasing an additional 452 shares during the period. Blue Trust Inc. lifted its position in Banco Macro by 171.6% during the 4th 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. Burns Matteson Capital Management LLC acquired a new position in Banco Macro during the 4th quarter valued at about $199,000. Finally, Alliance Wealth Advisors LLC UT acquired a new position in Banco Macro during the 4th quarter valued at about $207,000.

Analysts Set New Price Targets

Separately, Morgan Stanley raised Banco Macro from an "underweight" rating to an "overweight" rating and set a $12.50 price target for the company in a research note on Monday, December 16th.

Banco Macro Stock Up 6.3 %

Shares of BMA traded up $4.92 during mid-day trading on Wednesday, hitting $82.87. 208,942 shares of the company's stock were exchanged, compared to its average volume of 338,713. The company has a market cap of $5.30 billion, a PE ratio of 7.26 and a beta of 1.73. Banco Macro S.A. has a 52 week low of $42.23 and a 52 week high of $118.42. The company has a 50-day simple moving average of $94.76 and a 200 day simple moving average of $85.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

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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.