Banco Macro SA ADR Class B (BMA) Rating Increased to Hold at Zacks Investment Research

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Banco Macro SA ADR Class B (NYSE:BMA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” 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. “

Several other brokerages also recently weighed in on BMA. ValuEngine downgraded Banco Macro SA ADR Class B from a “sell” rating to a “strong sell” rating in a research note on Friday, June 1st. Santander upgraded Banco Macro SA ADR Class B from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, JPMorgan Chase & Co. upgraded Banco Macro SA ADR Class B from a “neutral” rating to an “overweight” rating and set a $104.00 target price for the company in a research note on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Banco Macro SA ADR Class B presently has a consensus rating of “Hold” and an average target price of $112.90.

Shares of Banco Macro SA ADR Class B stock traded down $1.06 during trading hours on Monday, hitting $45.75. 178,894 shares of the company’s stock traded hands, compared to its average volume of 317,826. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.24 and a quick ratio of 1.26. The company has a market capitalization of $3.39 billion, a PE ratio of 5.29, a P/E/G ratio of 0.40 and a beta of 1.31. Banco Macro SA ADR Class B has a twelve month low of $44.85 and a twelve month high of $136.10.

Several hedge funds have recently modified their holdings of BMA. Quantbot Technologies LP lifted its position 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 worth $148,000 after purchasing an additional 639 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Banco Macro SA ADR Class B during the first quarter worth about $162,000. Tower Research Capital LLC TRC bought a new position in shares of Banco Macro SA ADR Class B during the second quarter worth about $239,000. Capital Fund Management S.A. bought a new position in shares of Banco Macro SA ADR Class B during the second quarter worth about $259,000. Finally, Mitchell Capital Management Co. bought a new position in shares of Banco Macro SA ADR Class B during the first quarter worth about $332,000. 27.92% of the stock is currently owned by institutional investors and hedge funds.

Banco Macro SA ADR Class B Company 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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Analyst Recommendations for Banco Macro SA ADR Class B (NYSE:BMA)

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