Banco Macro (NYSE:BMA) Raised to “Buy” on StockNews.com
Banco Macro (NYSE:BMA – Get Rating) was upgraded by stock analysts StockNews.com from a “hold” rating to a “buy” rating in a report released Saturday.
Separately, Grupo Santander upgraded Banco Macro from a “maintain” rating to an “outperform” rating in a Monday, June 13 research rating.
Banco Macro Stock up 2.1%
BMA opened at $14.75 on Friday. Banco Macro has a 1-year low of $9.72 and a 1-year high of $21.20. The company has a debt ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s fifty-day moving average is $12.14 and its 200-day moving average is $14.24. The company has a market capitalization of $943.13 million, a PE ratio of 3.55 and a beta of 1.43.
Institutional investors weigh on Banco Macro
Institutional investors and hedge funds have recently changed their stock holdings. KBC Group NV acquired a new equity stake in Banco Macro during the first quarter for a value of $75,000. JPMorgan Chase & Co. increased its position in Banco Macro by 456.9% during the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank valued at $109,000 after purchasing an additional 5,167 shares during the period. Renaissance Technologies LLC acquired a new position in Banco Macro during the second quarter worth $134,000. Virtu Financial LLC acquired a new position in Banco Macro during the second quarter worth $143,000. Finally, UBS Group AG increased its position in Banco Macro by 3,316.4% during the first quarter. UBS Group AG now owns 12,299 shares of the bank valued at $213,000 after purchasing an additional 11,939 shares during the period. 6.75% of the shares are held by institutional investors and hedge funds.
Banco Macro Company Profile
(Get a rating)
Banco Macro SA provides various banking products and services to individuals and businesses in Argentina. It offers various retail banking products and services, such as savings and checking accounts, term deposits, credit and debit cards, consumer loans, mortgages, auto loans, overdrafts , credit-related services, home and auto insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.
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