Zacks Investment Research Downgrades Banco Macro SA (BMA) to Hold
Banco Macro SA (NYSE:BMA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
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 shares of Banco Macro SA from a “neutral” rating to a “buy” rating and increased their price target for the company from $83.90 to $86.50 in a research note on Monday, September 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Banco Macro SA has an average rating of “Hold” and an average price target of $75.90.
Banco Macro SA (NYSE:BMA) traded down 1.13% during trading on Friday, reaching $70.58. 48,386 shares of the company’s stock were exchanged. The firm has a market cap of $4.13 billion, a P/E ratio of 9.89 and a beta of 1.66. Banco Macro SA has a 52-week low of $51.60 and a 52-week high of $83.18. The stock’s 50 day moving average price is $76.29 and its 200 day moving average price is $73.05.
Several institutional investors have recently modified their holdings of the stock. Avalon Advisors LLC bought a new position in shares of Banco Macro SA during the first quarter valued at $206,000. Smith Asset Management Group LP acquired a new position in Banco Macro SA during the second quarter worth approximately $210,000. Majedie Asset Management Ltd acquired a new position in Banco Macro SA during the third quarter worth approximately $227,000. Bank of New York Mellon Corp acquired a new position in Banco Macro SA during the third quarter worth approximately $230,000. Finally, Sei Investments Co. acquired a new position in Banco Macro SA during the third quarter worth approximately $235,000. 19.84% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Banco Macro SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Macro SA and related stocks with our FREE daily email newsletter.