Banco Macro SA ADR Class B (BMA) Reaches New 12-Month Low at $46.05

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Banco Macro SA ADR Class B (NYSE:BMA)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $46.05 and last traded at $46.36, with a volume of 158898 shares. The stock had previously closed at $47.87.

BMA has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Banco Macro SA ADR Class B from a “hold” rating to a “strong sell” rating in a research report on Monday, June 18th. ValuEngine downgraded Banco Macro SA ADR Class B from a “sell” rating to a “strong sell” rating in a research report on Friday, June 1st. Santander raised Banco Macro SA ADR Class B from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. Finally, JPMorgan Chase & Co. raised Banco Macro SA ADR Class B from a “neutral” rating to an “overweight” rating and set a $104.00 price target on the stock in a research report on Wednesday, May 9th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Banco Macro SA ADR Class B currently has an average rating of “Hold” and a consensus target price of $112.90.

The stock has a market capitalization of $3.39 billion, a PE ratio of 5.41, a price-to-earnings-growth ratio of 0.40 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.24 and a quick ratio of 1.26.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP grew its holdings in shares of Banco Macro SA ADR Class B by 86.6% during the first quarter. Quantbot Technologies LP now owns 1,377 shares of the bank’s stock valued at $148,000 after buying an additional 639 shares during the last quarter. Dumac Inc. grew its holdings in shares of Banco Macro SA ADR Class B by 41.4% during the first quarter. Dumac Inc. now owns 3,399 shares of the bank’s stock valued at $367,000 after buying an additional 995 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Banco Macro SA ADR Class B during the first quarter valued at $162,000. Fiera Capital Corp grew its holdings in shares of Banco Macro SA ADR Class B by 0.9% during the first quarter. Fiera Capital Corp now owns 192,510 shares of the bank’s stock valued at $20,785,000 after buying an additional 1,717 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Banco Macro SA ADR Class B by 1.3% during the first quarter. Northern Trust Corp now owns 160,266 shares of the bank’s stock valued at $17,304,000 after buying an additional 2,052 shares during the last quarter. 27.92% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Macro SA ADR Class B (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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