Banco Macro (NYSE:BMA) Raised to “Buy” at StockNews.com

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Banco Macro (NYSE:BMAGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

Separately, Grupo Santander raised Banco Macro from a “hold” rating to an “outperform” rating in a research note on Monday, June 13th.

Banco Macro Stock Up 2.1 %

BMA opened at $14.75 on Friday. Banco Macro has a one year low of $9.72 and a one year high of $21.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s fifty day moving average is $12.14 and its 200-day moving average is $14.24. The company has a market capitalization of $943.13 million, a PE ratio of 3.55 and a beta of 1.43.

Institutional Investors Weigh In On Banco Macro

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new stake in shares of Banco Macro during the first quarter worth $75,000. JPMorgan Chase & Co. raised its position in Banco Macro by 456.9% during the first quarter. JPMorgan Chase & Co. now owns 6,298 shares of the bank’s stock valued at $109,000 after buying an additional 5,167 shares during the period. Renaissance Technologies LLC acquired a new position in Banco Macro during the second quarter valued at $134,000. Virtu Financial LLC acquired a new position in Banco Macro during the second quarter valued at $143,000. Finally, UBS Group AG raised its position in Banco Macro by 3,316.4% during the first quarter. UBS Group AG now owns 12,299 shares of the bank’s stock valued at $213,000 after buying an additional 11,939 shares during the period. 6.75% of the stock is owned by institutional investors and hedge funds.

Banco Macro Company Profile

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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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