Banco Macro (NYSE:BMA – Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Friday, Briefing.com reports. The firm presently has a $78.00 target price on the bank’s stock, up from their previous target price of $14.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 39.94% from the stock’s previous close.
BMA has been the topic of a number of other research reports. StockNews.com upgraded shares of Banco Macro from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $62.00 in a research report on Thursday, August 8th.
Read Our Latest Research Report on BMA
Banco Macro Stock Performance
Banco Macro (NYSE:BMA – Get Free Report) last posted its earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a net margin of 16.33% and a return on equity of 37.91%. The business had revenue of $1.03 billion for the quarter. During the same period in the prior year, the business earned $2.69 EPS. Analysts expect that Banco Macro will post 11.83 earnings per share for the current fiscal year.
Institutional Trading of Banco Macro
Hedge funds and other institutional investors have recently modified their holdings of the business. Candriam S.C.A. purchased a new stake in shares of Banco Macro during the second quarter worth $43,236,000. Maple Rock Capital Partners Inc. bought a new position in Banco Macro during the first quarter valued at approximately $23,994,000. Duquesne Family Office LLC lifted its stake in Banco Macro by 30.9% in the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock valued at $15,659,000 after acquiring an additional 64,400 shares during the last quarter. Ping Capital Management Inc. bought a new stake in Banco Macro in the second quarter worth approximately $12,326,000. Finally, Fourth Sail Capital LP acquired a new position in shares of Banco Macro during the 1st quarter worth $9,038,000.
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.
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