Point72 Asset Management L.P. Purchases Shares of 13,000 Banco Macro S.A. (NYSE:BMA)

Point72 Asset Management L.P. purchased a new position in Banco Macro S.A. (NYSE:BMA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,000 shares of the bank’s stock, valued at approximately $826,000.

Several other institutional investors and hedge funds have also made changes to their positions in BMA. Blue Trust Inc. lifted its position in Banco Macro by 118.3% during the 3rd quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after acquiring an additional 387 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Banco Macro in the second quarter worth about $51,000. Headlands Technologies LLC lifted its holdings in shares of Banco Macro by 262.0% during the second quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock worth $142,000 after purchasing an additional 1,797 shares during the period. Shilanski & Associates Inc. acquired a new stake in shares of Banco Macro during the second quarter worth about $244,000. Finally, Beverly Hills Private Wealth LLC increased its holdings in Banco Macro by 6.2% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock worth $316,000 after buying an additional 323 shares during the period.

Wall Street Analyst Weigh In

BMA has been the subject of a number of research reports. StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $78.00 in a report on Friday, August 30th.

Banco Macro Stock Performance

Shares of BMA stock opened at $90.67 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Banco Macro S.A. has a 12-month low of $24.41 and a 12-month high of $90.78. The business’s 50 day moving average is $78.31 and its two-hundred day moving average is $65.45. The company has a market capitalization of $5.80 billion, a P/E ratio of 7.95 and a beta of 1.75.

Banco Macro Profile

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.