Banco Macro (NYSE:BMA) Coverage Initiated by Analysts at Itau BBA Securities

Itau BBA Securities began coverage on shares of Banco Macro (NYSE:BMA) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “market perform” rating and a $85.00 price target on the bank’s stock. Itau BBA Securities’ price objective would indicate a potential downside of 11.72% from the stock’s current price.

Separately, JPMorgan Chase & Co. lifted their target price on Banco Macro from $78.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, April 21st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.13.

Banco Macro Stock Up 4.1%

Shares of NYSE:BMA opened at $96.29 on Tuesday. Banco Macro has a 1 year low of $42.23 and a 1 year high of $118.42. The company has a market capitalization of $6.15 billion, a PE ratio of 8.44 and a beta of 1.73. The business has a fifty day moving average price of $83.87 and a two-hundred day moving average price of $89.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

Hedge Funds Weigh In On Banco Macro

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC lifted its position in Banco Macro by 201.8% in the 4th quarter. Jump Financial LLC now owns 24,992 shares of the bank’s stock worth $2,418,000 after buying an additional 16,710 shares during the last quarter. HUB Investment Partners LLC bought a new stake in shares of Banco Macro in the 4th quarter worth approximately $326,000. D.A. Davidson & CO. bought a new stake in shares of Banco Macro in the 4th quarter worth approximately $284,000. JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Banco Macro in the 4th quarter valued at $834,000. Finally, Activest Wealth Management bought a new position in shares of Banco Macro during the 4th quarter valued at $981,000.

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.