Pendal Group Ltd trimmed its holdings in Banco Macro SA ADR (NYSE:BMA) by 82.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,379 shares of the bank’s stock after selling 113,295 shares during the quarter. Pendal Group Ltd’s holdings in Banco Macro were worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FIL Ltd grew its stake in shares of Banco Macro by 532.3% during the 1st quarter. FIL Ltd now owns 1,607,462 shares of the bank’s stock valued at $73,558,000 after purchasing an additional 1,353,256 shares during the period. Lazard Asset Management LLC grew its stake in shares of Banco Macro by 626.0% during the 1st quarter. Lazard Asset Management LLC now owns 750,323 shares of the bank’s stock valued at $34,334,000 after purchasing an additional 646,972 shares during the period. Baillie Gifford & Co. grew its stake in shares of Banco Macro by 5.9% during the 1st quarter. Baillie Gifford & Co. now owns 528,133 shares of the bank’s stock valued at $24,167,000 after purchasing an additional 29,234 shares during the period. Sagil Capital LLP bought a new stake in shares of Banco Macro during the 1st quarter valued at about $9,167,000. Finally, Fiera Capital Corp bought a new stake in shares of Banco Macro during the 1st quarter valued at about $9,153,000. Institutional investors own 23.42% of the company’s stock.

Shares of BMA stock traded up $2.07 during trading hours on Thursday, reaching $38.15. 11,160 shares of the company traded hands, compared to its average volume of 758,044. Banco Macro SA ADR has a 12-month low of $31.00 and a 12-month high of $77.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 0.94. The stock has a market cap of $2.41 billion, a P/E ratio of 4.91 and a beta of 0.71. The stock’s 50-day moving average price is $68.04.

A number of equities research analysts have issued reports on BMA shares. JPMorgan Chase & Co. boosted their price target on Banco Macro from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. TheStreet downgraded Banco Macro from a “b-” rating to a “c” rating in a research note on Monday, July 29th. HSBC downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Wednesday, June 5th. ValuEngine upgraded Banco Macro from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 10th. Finally, Scotiabank started coverage on Banco Macro in a research note on Wednesday, August 7th. They set an “underperform” rating and a $55.00 price target for the company. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.33.

Banco Macro Profile

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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Institutional Ownership by Quarter for Banco Macro (NYSE:BMA)

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