Banco Macro (NYSE:BMA) Hits New 12-Month High – Here’s What Happened

Banco Macro S.A. (NYSE:BMA)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $90.78 and last traded at $90.67, with a volume of 478885 shares trading hands. The stock had previously closed at $84.16.

Analyst Upgrades and Downgrades

BMA has been the topic of several recent analyst reports. StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upgraded Banco Macro from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $78.00 in a research report on Friday, August 30th.

Banco Macro Stock Up 3.9 %

The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $78.76 and a 200 day moving average price of $65.62.

Institutional Investors Weigh In On Banco Macro

Large investors have recently added to or reduced their stakes in the company. Candriam S.C.A. bought a new stake in Banco Macro during the 2nd quarter valued at $43,236,000. Ping Capital Management Inc. bought a new position in shares of Banco Macro during the second quarter valued at about $12,326,000. TT International Asset Management LTD raised its stake in shares of Banco Macro by 21.9% during the third quarter. TT International Asset Management LTD now owns 611,476 shares of the bank’s stock valued at $38,828,000 after acquiring an additional 109,793 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Banco Macro by 72.3% during 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 during the period. Finally, Duquesne Family Office LLC grew its stake in shares of Banco Macro by 30.9% in the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after purchasing 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.