Banco Macro S.A. (NYSE:BMA) Shares Sold by Ping Capital Management Inc.

Ping Capital Management Inc. cut its position in shares of Banco Macro S.A. (NYSE:BMA) by 23.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,704 shares of the bank’s stock after selling 57,395 shares during the quarter. Banco Macro accounts for 4.4% of Ping Capital Management Inc.’s portfolio, making the stock its 6th largest position. Ping Capital Management Inc. owned about 0.30% of Banco Macro worth $18,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. TT International Asset Management LTD grew its stake in shares of Banco Macro by 86.6% in the 4th quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock valued at $110,411,000 after buying an additional 529,610 shares in the last quarter. Dorsey Wright & Associates boosted its holdings in Banco Macro by 13.1% in the third quarter. Dorsey Wright & Associates now owns 75,100 shares of the bank’s stock worth $4,769,000 after purchasing an additional 8,679 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Banco Macro by 351.0% in the third quarter. BNP Paribas Financial Markets now owns 51,327 shares of the bank’s stock worth $3,259,000 after buying an additional 39,947 shares during the last quarter. Diversify Wealth Management LLC lifted its holdings in Banco Macro by 13.6% in the 4th quarter. Diversify Wealth Management LLC now owns 18,922 shares of the bank’s stock worth $1,831,000 after purchasing an additional 2,265 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Banco Macro by 300.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock valued at $974,000 after purchasing an additional 11,507 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded 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, December 16th.

Banco Macro Trading Up 0.5 %

BMA opened at $96.33 on Wednesday. Banco Macro S.A. has a twelve month low of $28.68 and a twelve month high of $118.42. The firm has a market cap of $6.16 billion, a PE ratio of 8.44 and a beta of 1.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The firm’s fifty day moving average is $99.32 and its two-hundred day moving average is $77.72.

Banco Macro (NYSE:BMA) last announced its quarterly earnings results on Wednesday, November 27th. The bank reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.70). Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. Equities research analysts anticipate that Banco Macro S.A. will post 7.87 EPS for the current year.

Banco Macro Company Profile

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.