Banco Macro (NYSE:BMA) Trading Up 5.4% – What’s Next?

Banco Macro S.A. (NYSE:BMA)’s stock price was up 5.4% on Tuesday . The company traded as high as $85.16 and last traded at $85.13. Approximately 195,199 shares traded hands during trading, a decline of 43% from the average daily volume of 344,019 shares. The stock had previously closed at $80.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BMA shares. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and increased their target price for the company from $14.00 to $78.00 in a research report on Friday, August 30th. Finally, StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

Banco Macro Stock Down 2.1 %

The stock’s 50-day moving average price is $74.86 and its 200 day moving average price is $63.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.79.

Institutional Investors Weigh In On Banco Macro

A number of hedge funds have recently modified their holdings of BMA. Blue Trust Inc. grew its holdings in shares of Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after purchasing an additional 387 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Banco Macro in the second quarter valued at about $51,000. Headlands Technologies LLC grew its holdings in shares of Banco Macro by 262.0% in the second quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,797 shares during the period. Shilanski & Associates Inc. purchased a new stake in shares of Banco Macro in the second quarter valued at about $244,000. Finally, Beverly Hills Private Wealth LLC grew its holdings in shares of Banco Macro by 6.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after purchasing an additional 323 shares during the period.

About Banco Macro

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, and money transfers.