ValuEngine upgraded shares of Banco Macro (NYSE:BMA) from a strong sell rating to a sell rating in a research report released on Saturday, ValuEngine reports.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised their price objective on Banco Macro from $57.00 to $61.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Scotiabank assumed coverage on Banco Macro in a report on Wednesday, August 7th. They issued an underperform rating and a $55.00 price target on the stock. HSBC downgraded Banco Macro from a buy rating to a hold rating in a report on Wednesday, June 5th. TheStreet downgraded Banco Macro from a b- rating to a c rating in a report on Monday, July 29th. Finally, Zacks Investment Research downgraded Banco Macro from a buy rating to a hold rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $62.33.

BMA opened at $37.28 on Friday. The business’s fifty day moving average price is $68.72. The stock has a market cap of $5.12 billion, a P/E ratio of 4.77 and a beta of 0.71. Banco Macro has a 52 week low of $31.00 and a 52 week high of $77.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.08.

Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Banco Macro by 75.7% in the 2nd quarter. BlackRock Inc. now owns 3,015,429 shares of the bank’s stock valued at $219,672,000 after purchasing an additional 1,299,448 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in shares of Banco Macro in the 2nd quarter valued at about $201,000. Pinebridge Investments L.P. purchased a new position in shares of Banco Macro in the 2nd quarter valued at about $816,000. United Capital Financial Advisers LLC purchased a new position in shares of Banco Macro in the 2nd quarter valued at about $283,000. Finally, APG Asset Management N.V. purchased a new position in shares of Banco Macro in the 2nd quarter valued at about $6,992,000. Institutional investors and hedge funds own 23.42% of the company’s stock.

About Banco Macro

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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Analyst Recommendations for Banco Macro (NYSE:BMA)

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