Goldman Sachs Group Inc. Upgrades Banco Macro SA (BMA) to Buy
Banco Macro SA (NYSE:BMA) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $86.50 target price on the stock, up from their prior target price of $83.90. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 12.95% from the stock’s previous close.
A number of other research analysts have also recently weighed in on BMA. JPMorgan Chase & Co. upgraded shares of Banco Macro SA from a “neutral” rating to an “overweight” rating in a research note on Friday, June 17th. Zacks Investment Research raised shares of Banco Macro SA from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, August 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $77.70.
Shares of Banco Macro SA (NYSE:BMA) opened at 76.58 on Monday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 10.79 and a beta of 1.56. Banco Macro SA has a 12 month low of $35.93 and a 12 month high of $83.18. The firm has a 50-day moving average of $76.40 and a 200-day moving average of $70.30.
A number of hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC raised its stake in Banco Macro SA by 0.8% in the second quarter. Guggenheim Capital LLC now owns 6,811 shares of the company’s stock worth $506,000 after buying an additional 55 shares during the period. BARING ASSET MANAGEMENT Ltd raised its stake in Banco Macro SA by 0.3% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 24,627 shares of the company’s stock worth $1,828,000 after buying an additional 73 shares during the period. Allianz Asset Management AG raised its stake in Banco Macro SA by 2.0% in the second quarter. Allianz Asset Management AG now owns 13,514 shares of the company’s stock worth $1,003,000 after buying an additional 270 shares during the period. World Asset Management Inc raised its stake in Banco Macro SA by 8.3% in the second quarter. World Asset Management Inc now owns 3,549 shares of the company’s stock worth $263,000 after buying an additional 272 shares during the period. Finally, BlackRock Inc. raised its stake in Banco Macro SA by 1.1% in the second quarter. BlackRock Inc. now owns 28,227 shares of the company’s stock worth $2,095,000 after buying an additional 300 shares during the period. 19.34% of the stock is currently owned by institutional investors and hedge funds.
Banco Macro SA Company Profile
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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