Banco Macro SA (NYSE:BMA)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $77.36, but opened at $77.53. Banco Macro SA shares last traded at $79.26, with a volume of 87,384 shares traded.

Several equities analysts recently issued reports 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 target price on the stock. 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. started coverage on Banco Macro SA in a research note on Wednesday, April 27th. They issued a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Banco Macro SA has a consensus rating of “Hold” and an average price target of $70.25.

The firm has a market cap of $4.64 billion and a P/E ratio of 12.86. The company’s 50-day moving average price is $71.01 and its 200 day moving average price is $65.30.

Other hedge funds and institutional investors have modified their holdings of the company. Morgan Stanley increased its position in shares of Banco Macro SA by 20.4% in the fourth quarter. Morgan Stanley now owns 859,880 shares of the company’s stock valued at $49,977,000 after buying an additional 145,784 shares in the last quarter. GAM Holding AG increased its position in shares of Banco Macro SA by 7.9% in the fourth quarter. GAM Holding AG now owns 30,000 shares of the company’s stock valued at $1,743,000 after buying an additional 2,200 shares in the last quarter. Shell Asset Management Co. acquired a new position in shares of Banco Macro SA during the fourth quarter valued at approximately $1,384,000. Finally, PNC Financial Services Group Inc. increased its position in shares of 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 valued at $1,923,000 after buying an additional 4,933 shares in the last quarter.

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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