Banco Macro (NYSE:BMA) Reaches New 1-Year High – Here’s What Happened

Banco Macro S.A. (NYSE:BMA)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $108.14 and last traded at $107.40, with a volume of 54711 shares traded. The stock had previously closed at $106.83.

Analyst Ratings Changes

BMA has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price for the company in a research note on Monday. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $78.00 in a research note on Friday, August 30th.

Banco Macro Trading Down 0.6 %

The company has a market cap of $6.79 billion, a price-to-earnings ratio of 9.36 and a beta of 1.75. The business’s 50 day moving average price is $80.09 and its 200-day moving average price is $66.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02.

Institutional Investors Weigh In On Banco Macro

Large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after acquiring an additional 387 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Banco Macro in the second quarter valued at approximately $51,000. Headlands Technologies LLC lifted its holdings in Banco Macro by 262.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock worth $142,000 after buying an additional 1,797 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its holdings in Banco Macro by 6.2% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock worth $316,000 after buying an additional 323 shares in the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in Banco Macro in the 2nd quarter valued at $362,000.

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.