Shares of Banco Macro SA ADR (NYSE:BMA) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $61.00.
Several research analysts recently issued reports on BMA shares. Bank of America lowered shares of Banco Macro from a “buy” rating to an “underperform” rating in a research report on Thursday, September 19th. Zacks Investment Research lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. ValuEngine upgraded shares of Banco Macro from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of Banco Macro from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Citigroup lowered shares of Banco Macro from a “buy” rating to a “neutral” rating in a research report on Thursday, September 19th.
Shares of NYSE:BMA traded down $0.23 during mid-day trading on Friday, reaching $27.53. The company had a trading volume of 4,776 shares, compared to its average volume of 551,468. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 3.61 and a beta of 1.10. The company’s 50-day moving average price is $25.85 and its 200-day moving average price is $48.15. Banco Macro has a one year low of $21.41 and a one year high of $77.31.
Banco Macro (NYSE:BMA) last released its quarterly earnings results on Wednesday, August 7th. The bank reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.43. The firm had revenue of $465.92 million during the quarter. Banco Macro had a net margin of 21.12% and a return on equity of 35.96%. On average, equities analysts expect that Banco Macro will post 8.46 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Wealth Inc. boosted its position in Banco Macro by 10,250.0% during the second quarter. Financial Gravity Wealth Inc. now owns 414 shares of the bank’s stock valued at $30,000 after buying an additional 410 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Banco Macro during the second quarter valued at about $36,000. KBC Group NV purchased a new stake in Banco Macro during the second quarter valued at about $135,000. Marshall Wace LLP purchased a new stake in Banco Macro during the first quarter valued at about $98,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Banco Macro during the second quarter valued at about $201,000. Institutional investors and hedge funds own 27.95% 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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