Banco Macro SA (NYSE:BMA) Receives Consensus Rating of “Buy” from Brokerages
Shares of Banco Macro SA (NYSE:BMA) have been assigned an average rating of “Buy” from the six ratings firms that are covering the firm. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $79.88.
Several research firms recently weighed in on BMA. Goldman Sachs Group Inc. raised Banco Macro SA from a “neutral” rating to a “buy” rating and raised their price objective for the company from $83.90 to $86.50 in a research note on Monday. Zacks Investment Research raised Banco Macro SA from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Tuesday, August 30th. Finally, JPMorgan Chase & Co. raised Banco Macro SA from a “neutral” rating to an “overweight” rating in a research report on Friday, June 17th.
Several large investors have recently bought and sold shares of BMA. Emerald Acquisition Ltd. acquired a new stake in Banco Macro SA during the second quarter valued at about $17,170,000. William Blair Investment Management LLC acquired a new stake in Banco Macro SA during the second quarter valued at about $16,757,000. Hermes Investment Management Ltd. boosted its stake in Banco Macro SA by 46.1% in the second quarter. Hermes Investment Management Ltd. now owns 422,719 shares of the company’s stock valued at $31,374,000 after buying an additional 133,299 shares during the period. FMR LLC boosted its stake in Banco Macro SA by 34.2% in the second quarter. FMR LLC now owns 501,826 shares of the company’s stock valued at $37,246,000 after buying an additional 127,980 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Banco Macro SA during the second quarter valued at about $8,738,000. Institutional investors and hedge funds own 19.34% of the company’s stock.
Banco Macro SA (NYSE:BMA) traded up 0.31% during midday trading on Wednesday, hitting $76.82. The company had a trading volume of 31,375 shares. Banco Macro SA has a 52-week low of $35.93 and a 52-week high of $83.18. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 10.82 and a beta of 1.56. The stock has a 50 day moving average of $76.40 and a 200 day moving average of $70.30.
About Banco Macro SA
Banco Macro SA offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Limited, Macro Securities SA, Macro Fiducia SA and Macro Fondos S.G.F.C.I.
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