Banco Macro (NYSE:BMA) Trading 5.4% Higher – Should You Buy?

Banco Macro S.A. (NYSE:BMA)’s stock price was up 5.4% on Tuesday . The stock 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.

Analyst Upgrades and Downgrades

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

Banco Macro Stock Up 3.3 %

The firm has a 50 day moving average price of $74.35 and a 200-day moving average price of $63.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.34 billion, a PE ratio of 7.90 and a beta of 1.77.

Hedge Funds Weigh In On Banco Macro

A number of large investors have recently modified their holdings of the business. Beverly Hills Private Wealth LLC boosted its stake in shares of Banco Macro by 6.2% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after acquiring an additional 323 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Banco Macro by 118.3% during the 3rd quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after buying an additional 387 shares during the last quarter. Sigma Planning Corp increased its position in shares of Banco Macro by 6.7% in the 3rd quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock worth $398,000 after purchasing an additional 395 shares during the last quarter. Diversify Wealth Management LLC raised its stake in Banco Macro by 4.3% during the third quarter. Diversify Wealth Management LLC now owns 16,657 shares of the bank’s stock valued at $1,058,000 after buying an additional 693 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Banco Macro during the second quarter worth $51,000.

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.