Banco Macro (NYSE:BMA) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Banco Macro (NYSE:BMA) from an underweight rating to an overweight rating in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $12.50 target price on the bank’s stock.

Several other equities research analysts have also recently issued reports on the company. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $78.00 in a research report on Friday, August 30th.

Banco Macro Stock Up 14.9 %

BMA opened at $106.79 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The company has a market capitalization of $6.83 billion, a P/E ratio of 9.13 and a beta of 1.75. Banco Macro has a fifty-two week low of $24.41 and a fifty-two week high of $107.98. The stock has a fifty day moving average of $79.26 and a 200-day moving average of $65.93.

Institutional Trading of Banco Macro

Several institutional investors and hedge funds have recently modified their holdings of the business. Atlas Capital Advisors LLC bought a new stake in shares of Banco Macro during the second quarter worth $362,000. Candriam S.C.A. acquired a new position in shares of Banco Macro in the second quarter valued at approximately $43,236,000. Acadian Asset Management LLC acquired a new stake in Banco Macro during the 2nd quarter worth approximately $1,466,000. LSV Asset Management increased its position in Banco Macro by 23.1% in the 2nd quarter. LSV Asset Management now owns 78,804 shares of the bank’s stock valued at $4,518,000 after acquiring an additional 14,804 shares during the period. Finally, Ping Capital Management Inc. bought a new position in shares of Banco Macro during the second quarter valued at $12,326,000.

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.