Banco Macro (BMA) Lifted to Sell at ValuEngine

Banco Macro (NYSE:BMA) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.

Several other equities analysts have also commented on BMA. Zacks Investment Research raised shares of Banco Macro from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 11th. Citigroup raised shares of Banco Macro from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Finally, Santander raised shares of Banco Macro from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.50.

Shares of BMA stock traded up $0.55 on Wednesday, hitting $52.46. 466,101 shares of the company’s stock traded hands, compared to its average volume of 320,218. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 1.08. Banco Macro has a one year low of $32.00 and a one year high of $111.67. The firm has a market cap of $3.42 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.47 and a beta of 0.75.

Several hedge funds have recently added to or reduced their stakes in BMA. NumerixS Investment Technologies Inc purchased a new stake in Banco Macro during the 4th quarter valued at $94,000. Quantbot Technologies LP boosted its position in Banco Macro by 301.7% during the 3rd quarter. Quantbot Technologies LP now owns 3,101 shares of the bank’s stock valued at $128,000 after buying an additional 2,329 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in Banco Macro during the 4th quarter valued at $138,000. Comerica Bank purchased a new stake in Banco Macro during the 4th quarter valued at $219,000. Finally, Jefferies Group LLC purchased a new stake in Banco Macro during the 3rd quarter valued at $355,000. 21.20% of the stock is currently owned by institutional investors.

About Banco Macro

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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