Banco Macro (NYSE:BMA) Earns Underperform Rating from Analysts at Scotiabank

Scotiabank started coverage on shares of Banco Macro (NYSE:BMA) in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage issued an underperform rating and a $55.00 target price on the bank’s stock.

Several other equities analysts have also weighed in on the stock. HSBC lowered shares of Banco Macro from a buy rating to a hold rating in a research report on Wednesday, June 5th. ValuEngine upgraded shares of Banco Macro from a sell rating to a hold rating in a research report on Sunday, July 28th. TheStreet lowered shares of Banco Macro from a b- rating to a c rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Banco Macro from $57.00 to $61.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Finally, Zacks Investment Research lowered shares of Banco Macro from a buy rating to a hold rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Banco Macro has an average rating of Hold and an average target price of $62.33.

Banco Macro stock opened at $76.48 on Wednesday. The firm has a market cap of $4.43 billion, a PE ratio of 8.03 and a beta of 0.71. 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 firm’s 50-day moving average is $69.45. Banco Macro has a 52 week low of $32.00 and a 52 week high of $77.31.

Banco Macro (NYSE:BMA) last posted its quarterly earnings data on Thursday, May 9th. The bank reported $2.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.62. Banco Macro had a net margin of 21.82% and a return on equity of 31.08%. The company had revenue of $423.75 million during the quarter. On average, equities research analysts anticipate that Banco Macro will post 8.3 earnings per share for the current year.

Several large investors have recently bought and sold shares of BMA. Financial Gravity Wealth Inc. lifted its position in shares of Banco Macro by 10,250.0% in the second quarter. Financial Gravity Wealth Inc. now owns 414 shares of the bank’s stock worth $30,000 after purchasing an additional 410 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Banco Macro in the second quarter worth approximately $36,000. Icon Wealth Partners LLC purchased a new stake in shares of Banco Macro in the first quarter worth approximately $41,000. Marshall Wace LLP purchased a new stake in shares of Banco Macro in the first quarter worth approximately $98,000. Finally, KBC Group NV purchased a new stake in shares of Banco Macro in the second quarter worth approximately $135,000. Institutional investors own 23.37% 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.

Further Reading: Buyback

Analyst Recommendations for Banco Macro (NYSE:BMA)

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