Banco Macro (NYSE:BMA) Research Coverage Started at Itau BBA Securities

Itau BBA Securities began coverage on shares of Banco Macro (NYSE:BMA) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage issued a market perform rating and a $85.00 price objective on the bank’s stock.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Banco Macro from $78.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.13.

Banco Macro Stock Performance

Shares of Banco Macro stock opened at $92.92 on Tuesday. The firm’s fifty day simple moving average is $84.48 and its 200-day simple moving average is $89.90. Banco Macro has a 12 month low of $42.23 and a 12 month high of $118.42. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 8.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Banco Macro during the first quarter worth $31,000. Tower Research Capital LLC TRC raised its position in Banco Macro by 1,829.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock worth $58,000 after buying an additional 567 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Banco Macro in the 4th quarter worth $63,000. GAMMA Investing LLC lifted its stake in shares of Banco Macro by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock worth $78,000 after acquiring an additional 245 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Banco Macro by 171.6% in the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock valued at $188,000 after acquiring an additional 1,225 shares in the last quarter.

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.