Banco Macro SA ADR (BMA) Receives Average Recommendation of “Hold” from Brokerages
Banco Macro SA ADR (NYSE:BMA) has been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $50.00.
A number of research firms have recently commented on BMA. ValuEngine lowered Banco Macro from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Santander raised Banco Macro from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Zacks Investment Research raised Banco Macro from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Tuesday, December 18th. Finally, Citigroup raised Banco Macro from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th.
Several hedge funds have recently modified their holdings of BMA. NumerixS Investment Technologies Inc purchased a new stake in shares of Banco Macro in the fourth quarter worth $94,000. Quantbot Technologies LP raised its position in shares of Banco Macro by 301.7% in the third quarter. Quantbot Technologies LP now owns 3,101 shares of the bank’s stock worth $128,000 after buying an additional 2,329 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new stake in shares of Banco Macro in the fourth quarter worth $138,000. Comerica Bank purchased a new stake in shares of Banco Macro in the fourth quarter worth $219,000. Finally, Jefferies Group LLC purchased a new stake in shares of Banco Macro in the third quarter worth $355,000. Institutional investors own 21.20% of the company’s stock.
Banco Macro Company Profile
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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