Banco Macro (NYSE:BMA) Earns Market Perform Rating from Analysts at Itau BBA Securities

Equities research analysts at Itau BBA Securities began coverage on shares of Banco Macro (NYSE:BMA - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set a "market perform" rating and a $85.00 price target on the bank's stock. Itau BBA Securities' price target suggests a potential downside of 11.72% from the company's current price.

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

Banco Macro Stock Up 4.1%

Shares of NYSE:BMA opened at $96.29 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. Banco Macro has a 52-week low of $42.23 and a 52-week 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 company has a fifty day moving average of $83.87 and a 200-day moving average of $89.71.

Institutional Investors Weigh In On Banco Macro

A number of institutional investors have recently made changes to their positions in BMA. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Banco Macro in the first quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its position in shares of Banco Macro by 1,829.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank's stock worth $58,000 after purchasing an additional 567 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Banco Macro by 19.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock valued at $59,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Banco Macro by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after buying an additional 245 shares in the last quarter. Finally, Wallace Advisory Group LLC bought a new position in shares of Banco Macro during the 1st quarter worth approximately $157,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.