Banco Macro (NYSE:BMA) Stock Price Up 4.1%

Shares of Banco Macro S.A. (NYSE:BMA) rose 4.1% during mid-day trading on Tuesday . The company traded as high as $20.66 and last traded at $20.53. Approximately 8,090 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 333,986 shares. The stock had previously closed at $19.73.

Separately, Zacks Investment Research raised Banco Macro from a “sell” rating to a “hold” rating in a research note on Monday, August 30th.

The company has a market cap of $1.24 billion, a PE ratio of 5.87 and a beta of 1.36. The business has a 50 day simple moving average of $15.62 and a two-hundred day simple moving average of $14.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26.

Banco Macro (NYSE:BMA) last issued its quarterly earnings results on Friday, August 13th. The bank reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.12). Banco Macro had a return on equity of 11.28% and a net margin of 9.44%. The business had revenue of $334.29 million for the quarter, compared to analysts’ expectations of $238.47 million. On average, equities research analysts expect that Banco Macro S.A. will post 2.26 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its position in shares of Banco Macro by 3.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 25,900 shares of the bank’s stock worth $346,000 after buying an additional 774 shares during the period. UBS Group AG raised its position in shares of Banco Macro by 21.1% in the 1st quarter. UBS Group AG now owns 5,782 shares of the bank’s stock worth $78,000 after buying an additional 1,008 shares during the period. Sei Investments Co. raised its position in shares of Banco Macro by 7.7% in the 1st quarter. Sei Investments Co. now owns 16,800 shares of the bank’s stock worth $224,000 after buying an additional 1,200 shares during the period. Marshall Wace LLP purchased a new position in shares of Banco Macro in the 1st quarter worth $98,000. Finally, Barclays PLC raised its position in shares of Banco Macro by 103.6% in the 1st quarter. Barclays PLC now owns 6,165 shares of the bank’s stock worth $82,000 after buying an additional 3,137 shares during the period. 7.76% of the stock is currently owned by institutional investors.

About Banco Macro (NYSE:BMA)

Banco Macro SA engages in the provision of financial and banking services. It serves the low and mid-income individuals, and small and mid-sized companies. The firm offers savings, checking accounts, time deposits, fund management, loans, mortgages, and direct banking transactions. The company was founded on November 21, 1966 and is headquartered in Buenos Aires, Argentina.

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