Banco Macro (NYSE:BMA) Upgraded at Santander

Banco Macro (NYSE:BMA) was upgraded by equities researchers at Santander from an “underperform” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, December 6th, The Fly reports.

A number of other equities research analysts have also commented on BMA. Zacks Investment Research lowered Banco Macro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub upgraded Banco Macro from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. ValuEngine upgraded Banco Macro from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Goldman Sachs Group lowered Banco Macro from a “buy” rating to a “neutral” rating and set a $113.70 price objective for the company. in a research report on Monday, September 11th. Finally, UBS Group lowered Banco Macro from an “outperform” rating to a “market perform” rating in a research report on Friday, November 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Banco Macro presently has an average rating of “Buy” and a consensus price target of $112.35.

Shares of Banco Macro (BMA) traded down $0.12 during midday trading on Wednesday, reaching $115.88. The company’s stock had a trading volume of 73,242 shares, compared to its average volume of 219,523. Banco Macro has a 12-month low of $63.22 and a 12-month high of $136.10. The firm has a market cap of $7,639.30, a price-to-earnings ratio of 14.82, a PEG ratio of 2.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.24 and a quick ratio of 1.24.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Banco Macro by 12.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,500 shares of the bank’s stock worth $323,000 after purchasing an additional 400 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Banco Macro by 66.6% during the 2nd quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock worth $129,000 after purchasing an additional 560 shares in the last quarter. Citigroup Inc. raised its stake in shares of Banco Macro by 30.8% during the 2nd quarter. Citigroup Inc. now owns 3,091 shares of the bank’s stock worth $285,000 after purchasing an additional 727 shares in the last quarter. Sei Investments Co. raised its stake in shares of Banco Macro by 8.0% during the 3rd quarter. Sei Investments Co. now owns 11,344 shares of the bank’s stock worth $1,331,000 after purchasing an additional 839 shares in the last quarter. Finally, Rational Advisors LLC raised its stake in shares of Banco Macro by 64.3% during the 2nd quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock worth $212,000 after purchasing an additional 900 shares in the last quarter. 31.14% of the stock is owned by institutional investors.

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About Banco Macro

Banco Macro SA is an Argnetina-based financial institution (the Bank) that 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 Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.

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