Banco Macro (NYSE:BMA) Sets New 12-Month High at $75.96

Banco Macro SA ADR (NYSE:BMA)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $75.96 and last traded at $75.88, with a volume of 3749 shares changing hands. The stock had previously closed at $74.00.

A number of equities research analysts have recently commented on BMA shares. Santander raised BBVA Banco Frances from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. TheStreet raised SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a research report on Thursday, June 13th. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. HSBC downgraded Banco Macro from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Finally, Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.00.

The business’s 50-day moving average price is $62.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 0.94. The stock has a market capitalization of $4.90 billion, a PE ratio of 9.45 and a beta of 0.65.

Banco Macro (NYSE:BMA) last posted its quarterly earnings results on Thursday, May 9th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.62. Banco Macro had a return on equity of 31.08% and a net margin of 21.82%. The firm had revenue of $423.75 million during the quarter. Sell-side analysts expect that Banco Macro SA ADR will post 8.25 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Banco Macro by 16.9% during the fourth quarter. BlackRock Inc. now owns 1,895,172 shares of the bank’s stock valued at $83,804,000 after acquiring an additional 273,982 shares during the period. Odey Asset Management Group Ltd boosted its position in shares of Banco Macro by 64.1% in the fourth quarter. Odey Asset Management Group Ltd now owns 1,879,723 shares of the bank’s stock worth $83,121,000 after buying an additional 734,101 shares during the period. FIL Ltd boosted its position in shares of Banco Macro by 532.3% in the first quarter. FIL Ltd now owns 1,607,462 shares of the bank’s stock worth $73,558,000 after buying an additional 1,353,256 shares during the period. Lazard Asset Management LLC boosted its position in shares of Banco Macro by 626.0% in the first quarter. Lazard Asset Management LLC now owns 750,323 shares of the bank’s stock worth $34,334,000 after buying an additional 646,972 shares during the period. Finally, Baillie Gifford & Co. boosted its position in shares of Banco Macro by 5.9% in the first quarter. Baillie Gifford & Co. now owns 528,133 shares of the bank’s stock worth $24,167,000 after buying an additional 29,234 shares during the period. 23.66% of the stock is owned by hedge funds and other institutional investors.

Banco Macro Company Profile (NYSE:BMA)

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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