StockNews.com Downgrades Banco Macro (NYSE:BMA) to Hold

Banco Macro (NYSE:BMA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

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

Banco Macro Stock Performance

Shares of BMA stock opened at $62.07 on Friday. Banco Macro has a 12-month low of $17.30 and a 12-month high of $68.24. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 3.67 and a beta of 1.80. The business has a 50 day simple moving average of $54.45 and a 200 day simple moving average of $53.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.77.

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). The firm had revenue of $1.03 billion for the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. During the same period in the prior year, the firm posted $2.69 earnings per share. On average, equities research analysts anticipate that Banco Macro will post 10.52 EPS for the current year.

Institutional Trading of Banco Macro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Banco Macro during the first quarter valued at about $33,000. Ashton Thomas Private Wealth LLC bought a new position in Banco Macro during the second quarter valued at about $51,000. Shilanski & Associates Inc. acquired a new position in Banco Macro in the 2nd quarter valued at approximately $244,000. Claro Advisors LLC bought a new stake in shares of Banco Macro in the 1st quarter worth approximately $260,000. Finally, Norden Group LLC acquired a new stake in shares of Banco Macro during the 1st quarter worth approximately $261,000.

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 (ATMs), and money transfers.