Banco Macro (NYSE:BMA) Trading Up 5.7% – Still a Buy?

Banco Macro S.A. (NYSE:BMA) shares were up 5.7% on Tuesday . The stock traded as high as $85.65 and last traded at $85.80. Approximately 89,928 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 338,713 shares. The stock had previously closed at $81.20.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price for the company in a research note on Monday, December 16th.

Banco Macro Stock Performance

The stock’s fifty day simple moving average is $92.33 and its two-hundred day simple moving average is $85.77. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 7.45 and a beta of 1.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02.

Institutional Investors Weigh In On Banco Macro

A number of institutional investors have recently added to or reduced their stakes in BMA. Tower Research Capital LLC TRC raised its holdings in shares of Banco Macro by 1,829.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock worth $58,000 after purchasing an additional 567 shares during the period. SBI Securities Co. Ltd. purchased a new position in Banco Macro in the fourth quarter valued at approximately $63,000. GAMMA Investing LLC lifted its position in Banco Macro by 136.1% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock valued at $76,000 after buying an additional 452 shares in the last quarter. Blue Trust Inc. grew its stake in Banco Macro by 171.6% during the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock worth $188,000 after buying an additional 1,225 shares during the period. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of Banco Macro in the fourth quarter worth $199,000.

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.