Banco Macro S.A. (NYSE:BMA) Shares Sold by Systrade AG

Systrade AG cut its position in Banco Macro S.A. (NYSE:BMA - Free Report) by 37.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,300 shares of the bank's stock after selling 3,700 shares during the period. Banco Macro accounts for 0.7% of Systrade AG's investment portfolio, making the stock its 12th largest holding. Systrade AG's holdings in Banco Macro were worth $476,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BMA. William Blair Investment Management LLC increased its position in shares of Banco Macro by 136.1% in the 4th quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank's stock valued at $55,188,000 after purchasing an additional 328,800 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Banco Macro by 84.6% in the 4th 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 last quarter. Cape Ann Asset Management Ltd purchased a new stake in shares of Banco Macro in the 4th quarter valued at approximately $20,203,000. Gemsstock Ltd. purchased a new position in shares of Banco Macro in the 4th quarter valued at $15,349,000. Finally, Axiom Investors LLC DE grew its position in shares of Banco Macro by 72.8% in the 4th quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock valued at $29,317,000 after buying an additional 127,678 shares during the last quarter.

Banco Macro Stock Up 1.0%

Shares of NYSE BMA traded up $0.76 during mid-day trading on Friday, reaching $76.74. The company had a trading volume of 396,930 shares, compared to its average volume of 322,925. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $85.47 and a two-hundred day simple moving average of $90.38. The stock has a market cap of $4.90 billion, a P/E ratio of 6.73 and a beta of 1.68. Banco Macro S.A. has a 52-week low of $42.23 and a 52-week high of $118.42.

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

Wall Street Analyst Weigh In

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

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.