Banco Macro (NYSE:BMA) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Banco Macro S.A. (NYSE:BMA) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $62.21 and traded as high as $81.00. Banco Macro shares last traded at $79.64, with a volume of 257,850 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BMA shares. JPMorgan Chase & Co. upgraded Banco Macro from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Price Performance

The company’s fifty day moving average price is $72.01 and its 200-day moving average price is $62.45. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.14.

Banco Macro (NYSE:BMA) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($5.50). Banco Macro had a return on equity of 25.98% and a net margin of 12.58%. The business had revenue of $1.03 billion for the quarter. During the same period in the prior year, the company earned $2.69 earnings per share. Research analysts forecast that Banco Macro S.A. will post 6.35 EPS for the current year.

Institutional Trading of Banco Macro

Large investors have recently made changes to their positions in the stock. Candriam S.C.A. bought a new position in shares of Banco Macro during the 2nd quarter worth $43,236,000. Maple Rock Capital Partners Inc. purchased a new position in Banco Macro during the 1st quarter valued at about $23,994,000. Ping Capital Management Inc. bought a new stake in shares of Banco Macro in the 2nd quarter valued at about $12,326,000. Marshall Wace LLP raised its holdings in Banco Macro by 72.3% in the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock worth $9,491,000 after purchasing an additional 69,494 shares in the last quarter. Finally, Duquesne Family Office LLC lifted its position in shares of Banco Macro by 30.9% during the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock valued at $15,659,000 after buying an additional 64,400 shares during the last quarter.

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.