Banco Macro (NYSE:BMA) Trading Up 5.7% – What’s Next?

Banco Macro S.A. (NYSE:BMA) rose 5.7% on Tuesday . The stock traded as high as $85.65 and last traded at $85.80. Approximately 89,928 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 338,713 shares. The stock had previously closed at $81.20.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price for the company in a research note on Monday, December 16th.

Banco Macro Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 7.45 and a beta of 1.73. The stock’s fifty day moving average is $92.33 and its two-hundred day moving average is $85.77.

Institutional Trading of Banco Macro

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TT International Asset Management LTD grew its stake in Banco Macro by 86.6% during the 4th quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock valued at $110,411,000 after purchasing an additional 529,610 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Banco Macro by 136.1% during the 4th quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank’s stock valued at $55,188,000 after buying an additional 328,800 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Banco Macro by 84.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank’s stock worth $52,161,000 after buying an additional 247,070 shares in the last quarter. Cape Ann Asset Management Ltd bought a new stake in shares of Banco Macro in the fourth quarter worth $20,203,000. Finally, Gemsstock Ltd. acquired a new stake in Banco Macro in the fourth quarter valued at $15,349,000.

About Banco Macro

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