Banco Macro (NYSE:BMA) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Macro (NYSE:BMA) from a strong sell rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “

A number of other brokerages have also commented on BMA. ValuEngine lowered shares of Banco Macro from a sell rating to a strong sell rating in a research note on Monday, August 3rd. HSBC lowered shares of Banco Macro from a hold rating to a reduce rating in a research note on Tuesday, July 21st. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock has an average rating of Sell and a consensus target price of $31.00.

Shares of BMA opened at $16.14 on Monday. Banco Macro has a 52 week low of $13.59 and a 52 week high of $39.10. The firm has a market cap of $1.08 billion, a P/E ratio of 1.58 and a beta of 1.21. The firm’s 50-day simple moving average is $19.83 and its 200 day simple moving average is $19.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.23 and a current ratio of 1.00.

Several large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of Banco Macro by 151.0% in the 1st quarter. Royal Bank of Canada now owns 1,639 shares of the bank’s stock worth $28,000 after purchasing an additional 986 shares during the period. Marshall Wace LLP purchased a new stake in Banco Macro in the first quarter valued at approximately $98,000. Quantum Capital Management boosted its position in Banco Macro by 558.9% in the first quarter. Quantum Capital Management now owns 3,960 shares of the bank’s stock valued at $67,000 after buying an additional 3,359 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Banco Macro in the first quarter valued at approximately $110,000. Finally, Advisor Group Holdings Inc. acquired a new position in Banco Macro in the first quarter valued at approximately $127,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail 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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Analyst Recommendations for Banco Macro (NYSE:BMA)

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