Systrade AG Has $476,000 Position in Banco Macro S.A. (NYSE:BMA)

Systrade AG lowered its stake in shares of Banco Macro S.A. (NYSE:BMA - Free Report) by 37.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the bank's stock after selling 3,700 shares during the period. Banco Macro comprises 0.7% of Systrade AG's investment portfolio, making the stock its 12th biggest position. Systrade AG's holdings in Banco Macro were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in BMA. Blue Trust Inc. increased its stake in Banco Macro by 171.6% during the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank's stock worth $188,000 after purchasing an additional 1,225 shares during the period. Alliance Wealth Advisors LLC UT acquired a new stake in shares of Banco Macro in the 4th quarter valued at about $207,000. Yorktown Management & Research Co Inc acquired a new stake in shares of Banco Macro during the fourth quarter worth about $493,000. Activest Wealth Management purchased a new position in shares of Banco Macro in the 4th quarter valued at approximately $981,000. Finally, Burns Matteson Capital Management LLC purchased a new position in Banco Macro during the 4th quarter worth $199,000.

Wall Street Analysts Forecast Growth

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

Banco Macro Stock Performance

Banco Macro stock traded up $0.76 during mid-day trading on Friday, hitting $76.74. 396,930 shares of the company's stock traded hands, compared to its average volume of 322,906. The firm has a 50 day moving average price of $85.47 and a 200 day moving average price of $90.28. The company has a market cap of $4.90 billion, a PE ratio of 6.73 and a beta of 1.68. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. Banco Macro S.A. has a one year low of $42.23 and a one year high of $118.42.

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

Banco Macro 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.