Banco Macro SA (BMA) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Banco Macro SA (NYSE:BMA) from a hold rating to a buy rating in a research note released on Thursday. The firm currently has $80.00 price objective on the stock.
According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “
Separately, Goldman Sachs Group Inc. upgraded Banco Macro SA from a neutral rating to a buy rating and increased their price objective for the stock from $83.90 to $86.50 in a research report on Monday, September 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Banco Macro SA has a consensus rating of Buy and a consensus price target of $75.90.
Shares of Banco Macro SA (NYSE:BMA) traded up 0.01% on Thursday, reaching $71.40. 5,704 shares of the company traded hands. Banco Macro SA has a one year low of $51.60 and a one year high of $83.18. The firm’s 50 day moving average is $76.29 and its 200 day moving average is $73.05. The company has a market capitalization of $4.17 billion, a P/E ratio of 9.21 and a beta of 1.66.
A number of hedge funds have recently added to or reduced their stakes in BMA. Smith Asset Management Group LP acquired a new stake in Banco Macro SA during the second quarter valued at $210,000. Majedie Asset Management Ltd acquired a new stake in Banco Macro SA during the third quarter valued at $227,000. Bank of New York Mellon Corp acquired a new stake in Banco Macro SA during the third quarter valued at $230,000. Sei Investments Co. acquired a new stake in Banco Macro SA during the third quarter valued at $235,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Banco Macro SA during the third quarter valued at $246,000. 19.84% 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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