StockNews.com Downgrades Banco Macro (NYSE:BMA) to Buy

StockNews.com lowered shares of Banco Macro (NYSE:BMAGet Rating) from a strong-buy rating to a buy rating in a report published on Monday.

A number of other equities analysts also recently commented on BMA. Zacks Investment Research upgraded shares of Banco Macro from a sell rating to a hold rating in a research report on Wednesday, May 11th. JPMorgan Chase & Co. downgraded shares of Banco Macro from a neutral rating to an underweight rating in a research report on Monday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $18.13.

Shares of Banco Macro stock opened at $16.82 on Monday. The company has a market cap of $1.08 billion, a P/E ratio of 4.82 and a beta of 1.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.97 and a current ratio of 0.97. Banco Macro has a one year low of $12.06 and a one year high of $21.20. The firm has a fifty day moving average of $16.07 and a two-hundred day moving average of $15.03.

Banco Macro (NYSE:BMAGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The bank reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.83. The company had revenue of $462.34 million during the quarter, compared to the consensus estimate of $303.58 million. Banco Macro had a net margin of 9.51% and a return on equity of 10.76%. As a group, equities analysts predict that Banco Macro will post 3.44 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in BMA. KBC Group NV purchased a new position in shares of Banco Macro in the 1st quarter valued at about $75,000. Marshall Wace LLP purchased a new position in shares of Banco Macro in the 1st quarter valued at about $98,000. JPMorgan Chase & Co. grew its stake in Banco Macro by 456.9% in the 1st quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank’s stock valued at $109,000 after acquiring an additional 5,167 shares during the last quarter. UBS Group AG grew its stake in Banco Macro by 3,316.4% in the 1st quarter. UBS Group AG now owns 12,299 shares of the bank’s stock valued at $213,000 after acquiring an additional 11,939 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Banco Macro in the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 6.75% of the company’s stock.

About Banco Macro (Get Rating)

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking 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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