Banco Macro (NYSE:BMA) rating downgraded to hold on

Banco Macro (NYSE:BMA – Get a Rating) was downgraded by stock analysts at from a “buy” rating to a “hold” rating in a report released Thursday.

Separately, TheStreet upgraded Banco Macro from a “c” rating to a “b-” rating in a Friday, September 16 report. One research analyst rated the stock with a sell rating, two gave a hold rating and one issued a buy rating for the stock. According to, the company currently has an average rating of “Hold” and an average price target of $17.70.

Banco Macro shares down 2.0%

Banco Macro stock traded down $0.26 at midday Thursday, hitting $12.84. 169,671 shares of the company were traded, against an average volume of 244,197. The company’s 50-day moving average price is $14.93 and its 200-day moving average price is $13.93. The company has a market capitalization of $821.00 million, a PE ratio of 3.09 and a beta of 1.25. The company has a debt ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79. Banco Macro has a fifty-two week low of $9.72 and a fifty-two week high of $18.05.

Banco Macro (NYSE:BMA – Get Rating) last released its quarterly earnings data on Wednesday, August 24. The bank reported earnings per share (EPS) of $0.52 for the quarter, missing the consensus estimate of $0.62 per ($0.10). Banco Macro achieved a return on equity of 10.70% and a net margin of 9.30%. The company posted revenue of $552.75 million for the quarter, compared to $404.78 million expected by analysts. On average, research analysts expect Banco Macro to post EPS of 3.35 for the current fiscal year.

Institutional investors weigh on Banco Macro

A number of institutional investors have recently changed their positions in the company. BlackRock Inc. increased its stake in Banco Macro shares by 3.7% in the 1st quarter. BlackRock Inc. now owns 20,798 shares of the bank valued at $360,000 after acquiring 747 additional shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Banco Macro in Q3 valued at around $27,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Banco Macro shares by 3.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,872 shares of the bank valued at $1,641,000 after acquiring 3,351 additional shares in the last quarter. UBS Group AG increased its equity stake in Banco Macro by 980.3% in the third quarter. UBS Group AG now owns 3,889 shares in the bank valued at $56,000 after acquiring 3,529 additional shares in the last quarter. Finally, KBC Group NV bought a new shareholding in Banco Macro in the 1st quarter for a value of approximately $75,000. 5.52% of the shares are currently held by institutional investors.

Banco Macro Company Profile

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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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