Banco Macro (NYSE:BMA) Rating Increased to Buy at StockNews.com

Banco Macro (NYSE:BMA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other research analysts also recently commented on BMA. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America raised shares of Banco Macro from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th.

Banco Macro Stock Up 5.6 %

Shares of NYSE BMA opened at $74.85 on Wednesday. The firm has a market cap of $4.79 billion, a P/E ratio of 4.42 and a beta of 1.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.79. Banco Macro has a 1 year low of $17.30 and a 1 year high of $76.08. The firm’s 50 day moving average price is $56.66 and its 200 day moving average price is $55.27.

Banco Macro (NYSE:BMA) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($5.50). The business had revenue of $1.03 billion for the quarter. Banco Macro had a return on equity of 25.97% and a net margin of 12.58%. During the same quarter last year, the business earned $2.69 EPS. As a group, sell-side analysts anticipate that Banco Macro will post 9.7 earnings per share for the current year.

Institutional Investors Weigh In On Banco Macro

Several institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC purchased a new stake in shares of Banco Macro in the fourth quarter worth about $1,475,000. Candriam S.C.A. acquired a new stake in Banco Macro in the second quarter valued at approximately $43,236,000. LSV Asset Management raised its stake in shares of Banco Macro by 11.3% during the first quarter. LSV Asset Management now owns 64,000 shares of the bank’s stock valued at $3,084,000 after purchasing an additional 6,500 shares during the period. SG Americas Securities LLC acquired a new position in shares of Banco Macro during the first quarter worth $348,000. Finally, Diversify Advisory Services LLC purchased a new position in shares of Banco Macro in the first quarter valued at $854,000.

About Banco Macro

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.