Point72 Asset Management L.P. Decreases Stock Position in Banco Macro S.A. (NYSE:BMA)

Point72 Asset Management L.P. lessened its position in Banco Macro S.A. (NYSE:BMA - Free Report) by 91.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100 shares of the bank's stock after selling 11,900 shares during the period. Point72 Asset Management L.P.'s holdings in Banco Macro were worth $106,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BMA. William Blair Investment Management LLC raised its position in shares of Banco Macro by 136.1% in the fourth quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank's stock valued at $55,188,000 after buying an additional 328,800 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Banco Macro by 84.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank's stock valued at $52,161,000 after purchasing an additional 247,070 shares during the period. Cape Ann Asset Management Ltd purchased a new stake in Banco Macro in the fourth quarter valued at approximately $20,203,000. Gemsstock Ltd. purchased a new stake in Banco Macro in the fourth quarter valued at approximately $15,349,000. Finally, Axiom Investors LLC DE grew its holdings in Banco Macro by 72.8% in the fourth quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock valued at $29,317,000 after purchasing an additional 127,678 shares during the period.

Banco Macro Trading Down 1.9%

BMA traded down $1.78 during trading on Wednesday, hitting $90.17. 387,061 shares of the company's stock were exchanged, compared to its average volume of 324,923. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Banco Macro S.A. has a 1 year low of $42.23 and a 1 year high of $118.42. The stock has a 50 day moving average price of $85.28 and a 200 day moving average price of $90.26. The firm has a market cap of $5.76 billion, a P/E ratio of 7.90 and a beta of 1.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BMA shares. JPMorgan Chase & Co. boosted their target price on shares of Banco Macro from $78.00 to $89.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Itau BBA Securities started coverage on shares of Banco Macro in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.13.

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.