Banco Macro (NYSE:BMA - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $78.00 to $89.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the bank's stock.
Banco Macro Stock Up 0.5 %
Shares of BMA stock traded up $0.43 during mid-day trading on Monday, hitting $93.28. The company's stock had a trading volume of 228,089 shares, compared to its average volume of 338,978. 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 stock has a market cap of $5.96 billion, a price-to-earnings ratio of 8.18 and a beta of 1.53. The business has a 50-day moving average price of $82.54 and a 200 day moving average price of $87.88.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shilanski & Associates Inc. lifted its holdings in shares of Banco Macro by 2.4% during the 1st quarter. Shilanski & Associates Inc. now owns 4,773 shares of the bank's stock valued at $360,000 after buying an additional 112 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Banco Macro by 11.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank's stock worth $4,271,000 after purchasing an additional 5,629 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Banco Macro during the 1st quarter valued at about $31,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Banco Macro during the 1st quarter valued at about $557,000. Finally, Insigneo Advisory Services LLC lifted its stake in shares of Banco Macro by 64.0% in the 1st quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank's stock worth $315,000 after purchasing an additional 1,629 shares during the period.
About Banco Macro
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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.
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