Voloridge Investment Management LLC Purchases New Stake in Banco Macro S.A. (NYSE:BMA)

Voloridge Investment Management LLC acquired a new position in shares of Banco Macro S.A. (NYSE:BMA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,503 shares of the bank's stock, valued at approximately $920,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Banco Macro by 171.6% during the 4th quarter. Blue Trust Inc. now owns 1,939 shares of the bank's stock worth $188,000 after buying an additional 1,225 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Banco Macro in the fourth quarter valued at approximately $834,000. Alliance Wealth Advisors LLC UT purchased a new stake in Banco Macro in the 4th quarter valued at approximately $207,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Banco Macro in the fourth quarter valued at $493,000. Finally, Activest Wealth Management purchased a new position in Banco Macro in the 4th quarter valued at about $981,000.

Banco Macro Stock Up 0.8%

Shares of BMA traded up $0.63 during mid-day trading on Tuesday, reaching $82.95. 76,315 shares of the stock traded hands, compared to its average volume of 320,899. The stock has a fifty day simple moving average of $85.47 and a 200 day simple moving average of $90.50. Banco Macro S.A. has a 12-month low of $42.23 and a 12-month high of $118.42. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 7.27 and a beta of 1.73.

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

Wall Street Analysts Forecast Growth

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