Banco Macro (NYSE:BMA) Downgraded by StockNews.com to “Buy”

Posted by on May 24th, 2022

StockNews.com cut shares of Banco Macro (NYSE:BMA – Get Rating) from a strong-buy rating to a buy rating in a report released on Monday morning.

BMA has been the topic of several other reports. Zacks Investment Research upgraded Banco Macro from a sell rating to a hold rating in a research report on Wednesday, May 11th. JPMorgan Chase & Co. lowered Banco Macro from a neutral rating to an underweight rating in a research report on Monday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Banco Macro has a consensus rating of Hold and an average price target of $18.13.

Shares of BMA stock traded up $0.59 during trading hours on Monday, reaching $16.13. The company’s stock had a trading volume of 163,462 shares, compared to its average volume of 237,438. The stock has a market capitalization of $1.03 billion, a P/E ratio of 4.62 and a beta of 1.32. Banco Macro has a one year low of $12.06 and a one year high of $21.20. The firm’s fifty day simple moving average is $16.02 and its 200 day simple moving average is $15.01. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.19.

Banco Macro (NYSE:BMA – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The bank reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.83. Banco Macro had a return on equity of 10.76% and a net margin of 9.51%. The company had revenue of $462.34 million for the quarter, compared to analyst estimates of $303.58 million. As a group, equities research analysts forecast that Banco Macro will post 3.44 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in Banco Macro during the first quarter valued at $98,000. KBC Group NV purchased a new position in shares of Banco Macro in the first quarter worth $75,000. JPMorgan Chase & Co. raised its stake in shares of Banco Macro by 456.9% in the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank’s stock worth $109,000 after purchasing an additional 5,167 shares during the last quarter. UBS Group AG raised its stake in shares of Banco Macro by 3,316.4% in the first quarter. UBS Group AG now owns 12,299 shares of the bank’s stock worth $213,000 after purchasing an additional 11,939 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Banco Macro in the third quarter worth $233,000. Institutional investors and hedge funds own 6.75% of the company’s stock.

About Banco Macro (Get Rating)

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 (ATMs), and money transfers.

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