Banco Macro SA ADR (NYSE:BMA) Position Trimmed by Wells Fargo & Company MN

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Wells Fargo & Company MN decreased its holdings in shares of Banco Macro SA ADR (NYSE:BMA) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,207 shares of the bank’s stock after selling 6,294 shares during the period. Wells Fargo & Company MN owned about 0.09% of Banco Macro worth $4,605,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BMA. Financial Gravity Wealth Inc. increased its stake in Banco Macro by 10,250.0% during the second quarter. Financial Gravity Wealth Inc. now owns 414 shares of the bank’s stock valued at $30,000 after purchasing an additional 410 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Banco Macro during the second quarter valued at $36,000. Icon Wealth Partners LLC acquired a new position in shares of Banco Macro during the first quarter valued at $41,000. Marshall Wace LLP acquired a new position in shares of Banco Macro during the first quarter valued at $98,000. Finally, KBC Group NV acquired a new position in shares of Banco Macro during the second quarter valued at $135,000. Hedge funds and other institutional investors own 27.95% of the company’s stock.

BMA has been the subject of several analyst reports. ValuEngine raised shares of Banco Macro from a “strong sell” rating to a “sell” rating in a report on Saturday, August 10th. Morgan Stanley downgraded shares of Banco Macro from an “overweight” rating to an “underweight” rating in a report on Monday, August 12th. Citigroup downgraded shares of Banco Macro from a “buy” rating to a “neutral” rating in a report on Thursday. Zacks Investment Research downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Banco Macro from $57.00 to $61.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Banco Macro has an average rating of “Hold” and an average target price of $62.33.

BMA stock traded down $0.74 during trading on Thursday, hitting $23.51. The company had a trading volume of 15,716 shares, compared to its average volume of 935,139. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 3.01 and a beta of 1.04. The business has a 50 day moving average of $39.15 and a 200 day moving average of $50.57. Banco Macro SA ADR has a fifty-two week low of $21.41 and a fifty-two week high of $77.31. The company has a current ratio of 0.98, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41.

Banco Macro (NYSE:BMA) last posted its quarterly earnings data on Wednesday, August 7th. The bank reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.43. The business had revenue of $465.92 million during the quarter. Banco Macro had a net margin of 21.12% and a return on equity of 35.96%. As a group, equities analysts predict that Banco Macro SA ADR will post 8.3 EPS for the current year.

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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Institutional Ownership by Quarter for Banco Macro (NYSE:BMA)

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