Banco Macro (NYSE:BMA) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a report released on Monday.

According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “

BMA has been the subject of a number of other reports. ValuEngine upgraded shares of Banco Macro from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Santander upgraded shares of Banco Macro from an “underperform” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, UBS Group downgraded shares of Banco Macro from an “outperform” rating to a “market perform” rating in a research report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $112.35.

Banco Macro (NYSE BMA) opened at $96.73 on Monday. The stock has a market cap of $6,380.00, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.73 and a beta of 1.23. Banco Macro has a 1 year low of $76.34 and a 1 year high of $136.10. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.18.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Banco Macro by 66.6% during the second quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock valued at $129,000 after purchasing an additional 560 shares during the period. Allianz Asset Management GmbH lifted its position in Banco Macro by 7.8% during the fourth quarter. Allianz Asset Management GmbH now owns 9,488 shares of the bank’s stock valued at $1,099,000 after purchasing an additional 690 shares during the period. Rational Advisors LLC lifted its position in Banco Macro by 30.4% during the fourth quarter. Rational Advisors LLC now owns 3,000 shares of the bank’s stock valued at $348,000 after purchasing an additional 700 shares during the period. Citigroup Inc. lifted its position in Banco Macro by 30.8% during the second quarter. Citigroup Inc. now owns 3,091 shares of the bank’s stock valued at $285,000 after purchasing an additional 727 shares during the period. Finally, Sei Investments Co. lifted its position in Banco Macro by 8.0% during the third quarter. Sei Investments Co. now owns 11,344 shares of the bank’s stock valued at $1,331,000 after purchasing an additional 839 shares during the period. Institutional investors own 29.75% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States and international copyright and trademark law. The original version of this piece can be viewed at https://theolympiareport.com/2018/02/14/banco-macro-bma-downgraded-to-strong-sell-at-zacks-investment-research.html.

Banco Macro Company Profile

Banco Macro SA is an Argnetina-based financial institution (the Bank) that offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.

Get a free copy of the Zacks research report on Banco Macro (BMA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Banco Macro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Macro and related companies with MarketBeat.com's FREE daily email newsletter.