Shares of Banco Macro SA (NYSE:BMA) gapped up prior to trading 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 trading hands.

BMA has been the subject of several recent analyst reports. Citigroup Inc. upgraded shares of Banco Macro SA from a “sell” rating to a “neutral” rating in a research note on Monday, May 23rd. JPMorgan Chase & Co. upgraded shares of Banco Macro SA from a “neutral” rating to an “overweight” rating in a research note on Friday, June 17th. Goldman Sachs Group Inc. initiated coverage on shares of Banco Macro SA in a research note on Wednesday, April 27th. They issued a “neutral” rating for the company. Santander initiated coverage on shares of Banco Macro SA in a research note on Wednesday, March 23rd. They issued a “hold” rating and a $73.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Banco Macro SA from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, April 5th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $70.25.

The firm has a market capitalization of $4.60 billion and a PE ratio of 12.78. The firm’s 50-day moving average is $71.54 and its 200-day moving average is $65.47.

A number of large investors have modified their holdings of BMA. Morgan Stanley increased its stake 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 worth $49,977,000 after buying an additional 145,784 shares during the last quarter. PNC Financial Services Group Inc. increased its stake 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 worth $1,923,000 after buying an additional 4,933 shares during the last quarter. GAM Holding AG increased its stake 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 worth $1,743,000 after buying an additional 2,200 shares during the last quarter. Finally, Shell Asset Management Co. acquired a new stake in shares of Banco Macro SA during the fourth quarter worth $1,384,000.

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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