Banco Macro (NYSE:BMA) Upgraded to “Sell” by ValuEngine

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ValuEngine upgraded shares of Banco Macro (NYSE:BMA) from a strong sell rating to a sell rating in a research report released on Saturday morning, ValuEngine reports.

Several other analysts have also recently issued reports on BMA. TheStreet cut shares of Banco Macro from a b- rating to a c rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Banco Macro from $57.00 to $61.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Scotiabank initiated coverage on shares of Banco Macro in a research note on Wednesday, August 7th. They set an underperform rating and a $55.00 price objective for the company. HSBC cut shares of Banco Macro from a buy rating to a hold rating in a research note on Wednesday, June 5th. Finally, Zacks Investment Research cut shares of Banco Macro from a buy rating to a hold rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $62.33.

Shares of NYSE BMA opened at $37.28 on Friday. Banco Macro has a 52-week low of $31.00 and a 52-week high of $77.31. The company’s fifty day moving average is $68.72. The stock has a market cap of $5.12 billion, a PE ratio of 4.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.08.

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Banco Macro by 214.4% during the fourth quarter. Legal & General Group Plc now owns 34,300 shares of the bank’s stock valued at $1,517,000 after buying an additional 23,391 shares during the last quarter. FMR LLC lifted its stake in shares of Banco Macro by 5.1% in the 4th quarter. FMR LLC now owns 39,667 shares of the bank’s stock valued at $1,754,000 after purchasing an additional 1,907 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Banco Macro by 18.3% in the 4th quarter. Deutsche Bank AG now owns 40,224 shares of the bank’s stock valued at $1,778,000 after purchasing an additional 6,222 shares during the last quarter. Avalon Advisors LLC lifted its stake in shares of Banco Macro by 6.5% in the 1st quarter. Avalon Advisors LLC now owns 27,080 shares of the bank’s stock valued at $1,239,000 after purchasing an additional 1,642 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Banco Macro by 5.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 63,740 shares of the bank’s stock valued at $2,917,000 after purchasing an additional 3,134 shares during the last quarter. Institutional investors and hedge funds own 23.42% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Banco Macro (NYSE:BMA)

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