Banco Macro (NYSE:BMA) Trading Down 3.9% - Time to Sell?

Shares of Banco Macro S.A. (NYSE:BMA - Get Free Report) traded down 3.9% during mid-day trading on Wednesday . The company traded as low as $79.94 and last traded at $78.79. 87,205 shares were traded during mid-day trading, a decline of 73% from the average session volume of 320,905 shares. The stock had previously closed at $81.96.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Itau BBA Securities assumed coverage on shares of Banco Macro in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Banco Macro from $78.00 to $89.00 and gave the company a "neutral" rating in a research note 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 company currently has a consensus rating of "Hold" and an average target price of $62.13.

Banco Macro Trading Down 0.3%

The business's 50-day moving average price is $85.46 and its two-hundred day moving average price is $90.34. The company has a market capitalization of $4.84 billion, a P/E ratio of 6.63 and a beta of 1.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

Banco Macro (NYSE:BMA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.76 by ($1.11). The firm had revenue of $759.36 million for the quarter, compared to the consensus estimate of $837.49 billion. Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. As a group, analysts forecast that Banco Macro S.A. will post 7.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Macro

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Banco Macro by 6.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock worth $43,227,000 after purchasing an additional 33,390 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Banco Macro by 136.1% during the fourth quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank's stock worth $55,188,000 after acquiring an additional 328,800 shares during the period. Duquesne Family Office LLC raised its holdings in shares of Banco Macro by 14.5% during the fourth quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank's stock worth $46,970,000 after acquiring an additional 61,300 shares during the period. PointState Capital LP raised its holdings in shares of Banco Macro by 25.1% during the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after acquiring an additional 68,096 shares during the period. Finally, Axiom Investors LLC DE raised its holdings in shares of Banco Macro by 72.8% during the fourth quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock worth $29,317,000 after acquiring an additional 127,678 shares during the period.

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.