Banco Macro SA ADR (NYSE:BMA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $36.50, but opened at $37.28. Banco Macro shares last traded at $35.10, with a volume of 33,519 shares trading hands.

Several analysts have recently weighed in on BMA shares. TheStreet lowered shares of Banco Macro from a “b-” rating to a “c” rating in a research report on Monday, July 29th. Zacks Investment Research lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley lowered shares of Banco Macro from an “overweight” rating to an “underweight” rating in a research report on Monday. ValuEngine upgraded shares of Banco Macro from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Banco Macro from $57.00 to $61.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $62.33.

The stock has a market cap of $5.12 billion, a PE ratio of 4.61 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $68.04.

Large investors have recently added to or reduced their stakes in the business. Financial Gravity Wealth Inc. boosted its position in Banco Macro by 10,250.0% in the second quarter. Financial Gravity Wealth Inc. now owns 414 shares of the bank’s stock valued at $30,000 after buying an additional 410 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Banco Macro in the second quarter valued at about $36,000. Icon Wealth Partners LLC acquired a new position in Banco Macro in the first quarter valued at about $41,000. KBC Group NV acquired a new position in Banco Macro in the second quarter valued at about $135,000. Finally, Marshall Wace LLP acquired a new position in Banco Macro in the first quarter valued at about $98,000. Hedge funds and other institutional investors own 23.42% of the company’s stock.

About Banco Macro (NYSE:BMA)

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail 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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