Banco Macro (NYSE:BMA) Reaches New 12-Month High – What’s Next?

Banco Macro S.A. (NYSE:BMA) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $110.00 and last traded at $109.17, with a volume of 432807 shares changing hands. The stock had previously closed at $96.76.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BMA shares. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price on the stock in a research note on Monday, December 16th.

Banco Macro Price Performance

The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $87.10 and its two-hundred day moving average price is $69.64. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 9.57 and a beta of 1.75.

Institutional Investors Weigh In On Banco Macro

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after acquiring an additional 387 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Banco Macro in the 2nd quarter valued at $51,000. Headlands Technologies LLC boosted its holdings in Banco Macro by 262.0% in 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 in the last quarter. Beverly Hills Private Wealth LLC increased its position in Banco Macro by 6.2% during the second 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 last quarter. Finally, NorthRock Partners LLC bought a new position in Banco Macro during the third quarter valued at about $381,000.

Banco Macro Company 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.