Banco Macro (NYSE:BMA) Downgraded by StockNews.com

Banco Macro (NYSE:BMA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other research firms have also commented on BMA. JPMorgan Chase & Co. upgraded Banco Macro from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. Bank of America raised 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 report on Thursday, August 8th.

Banco Macro Trading Up 1.5 %

NYSE:BMA opened at $66.44 on Thursday. The company’s 50 day moving average is $58.30 and its 200-day moving average is $56.30. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.14. Banco Macro has a 12 month low of $17.30 and a 12 month high of $76.08. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 3.92 and a beta of 1.80.

Banco Macro (NYSE:BMA) last posted its 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 during the quarter. Banco Macro had a net margin of 12.58% and a return on equity of 25.97%. During the same quarter in the previous year, the firm earned $2.69 EPS. Equities analysts anticipate that Banco Macro will post 9.7 EPS for the current year.

Institutional Investors Weigh In On Banco Macro

Hedge funds have recently made changes to their positions in the stock. Beverly Hills Private Wealth LLC raised its holdings in Banco Macro by 6.2% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after acquiring an additional 323 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Banco Macro during the first quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Banco Macro in the second quarter valued at $51,000. Mackenzie Financial Corp lifted its position in Banco Macro by 32.9% in the second quarter. Mackenzie Financial Corp now owns 10,988 shares of the bank’s stock worth $630,000 after purchasing an additional 2,718 shares during the period. Finally, Shilanski & Associates Inc. acquired a new stake in Banco Macro during the second quarter worth $244,000.

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, and money transfers.