Banco Macro (NYSE:BMA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, reports.

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, ValuEngine lowered Banco Macro from a “sell” rating to a “strong sell” rating in a research note on Friday, March 20th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Banco Macro currently has an average rating of “Sell” and an average target price of $49.00.

Shares of BMA opened at $19.75 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.23 and a current ratio of 1.12. The company has a 50-day simple moving average of $20.11 and a 200-day simple moving average of $24.80. Banco Macro has a 52 week low of $13.59 and a 52 week high of $77.31. The firm has a market capitalization of $1.29 billion, a P/E ratio of 1.74 and a beta of 1.20.

Banco Macro (NYSE:BMA) last issued its quarterly earnings results on Wednesday, June 10th. The bank reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.46). Banco Macro had a net margin of 27.10% and a return on equity of 43.05%. The firm had revenue of $436.93 million for the quarter. As a group, equities analysts forecast that Banco Macro will post 8.3 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of Banco Macro by 151.0% in the 1st quarter. Royal Bank of Canada now owns 1,639 shares of the bank’s stock valued at $28,000 after purchasing an additional 986 shares during the period. Tobam boosted its stake in Banco Macro by 210.3% in the 1st quarter. Tobam now owns 2,783 shares of the bank’s stock valued at $47,000 after buying an additional 1,886 shares in the last quarter. Quantum Capital Management grew its position in Banco Macro by 558.9% in the first quarter. Quantum Capital Management now owns 3,960 shares of the bank’s stock valued at $67,000 after acquiring an additional 3,359 shares during the period. Marshall Wace LLP acquired a new position in Banco Macro during the first quarter worth $98,000. Finally, Aigen Investment Management LP bought a new position in shares of Banco Macro during the first quarter valued at $110,000. 19.68% of the stock is currently owned by institutional investors.

About Banco Macro

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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