Banco Macro SA (NYSE:BMA) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $76.72 and last traded at $76.55, with a volume of 77,961 shares changing hands. The stock had previously closed at $75.81.

A number of research analysts have recently commented on BMA shares. Zacks Investment Research cut Banco Macro SA from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. JPMorgan Chase & Co. upgraded Banco Macro SA from a “neutral” rating to an “overweight” rating in a research note on Friday, June 17th. Credit Suisse Group AG started coverage on Banco Macro SA in a research note on Tuesday, March 29th. They issued a “neutral” rating and a $71.00 price target for the company. Citigroup Inc. upgraded Banco Macro SA from a “sell” rating to a “neutral” rating in a research note on Monday, May 23rd. Finally, Goldman Sachs Group Inc. assumed coverage on Banco Macro SA in a research note on Wednesday, April 27th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $70.25.

The company has a market capitalization of $4.44 billion and a price-to-earnings ratio of 12.32. The firm’s 50 day moving average price is $69.51 and its 200-day moving average price is $65.03.

Several hedge funds and institutional investors have recently added to or reduced their stakes in BMA. PNC Financial Services Group Inc. raised its position in Banco Macro SA by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 33,089 shares of the company’s stock worth $1,923,000 after buying an additional 4,933 shares during the period. Shell Asset Management Co. purchased a new position in Banco Macro SA during the fourth quarter worth approximately $1,384,000. GAM Holding AG raised its position in Banco Macro SA by 7.9% in the fourth quarter. GAM Holding AG now owns 30,000 shares of the company’s stock worth $1,743,000 after buying an additional 2,200 shares during the period. Finally, Morgan Stanley raised its position in Banco Macro SA by 20.4% in the fourth quarter. Morgan Stanley now owns 859,880 shares of the company’s stock worth $49,977,000 after buying an additional 145,784 shares during the period.

Banco Macro SA (the Bank) is a bank. The Bank offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. The Bank offers savings and checking accounts, credit and debit cards, consumer finance loans (including personal loans), mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automatic teller machines (ATMs) and money transfers.

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