Banco Macro (NYSE:BMA) Stock Rating Lowered by StockNews.com

Banco Macro (NYSE:BMA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other analysts have also issued reports on BMA. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $78.00 in a research report on Friday, August 30th. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th.

Banco Macro Price Performance

Shares of NYSE:BMA opened at $66.44 on Thursday. The company’s fifty day moving average is $58.30 and its two-hundred 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 company has a market cap of $4.25 billion, a P/E ratio of 3.92 and a beta of 1.80.

Banco Macro (NYSE:BMA) last posted its quarterly 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 12.58% and a return on equity of 25.97%. The business had revenue of $1.03 billion for the quarter. During the same quarter last year, the firm earned $2.69 earnings per share. Equities analysts expect that Banco Macro will post 9.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banco Macro

Several large investors have recently made changes to their positions in BMA. Headlands Technologies LLC acquired a new stake in Banco Macro in the first quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Banco Macro during the 2nd quarter valued at $51,000. Shilanski & Associates Inc. acquired a new stake in shares of Banco Macro in the 2nd quarter valued at $244,000. Claro Advisors LLC bought a new stake in Banco Macro in the first quarter worth $260,000. Finally, Norden Group LLC bought a new stake in Banco Macro in the first quarter worth $261,000.

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.