Banco Macro SA (BMA) Sees Strong Trading Volume
Banco Macro SA (NYSE:BMA) shares saw an uptick in trading volume on Tuesday . 147,422 shares were traded during trading, a decline of 3% from the previous session’s volume of 151,575 shares.The stock last traded at $79.04 and had previously closed at $78.98.
Several brokerages recently weighed in on BMA. JPMorgan Chase & Co. raised Banco Macro SA from a “neutral” rating to an “overweight” rating in a report on Friday, June 17th. Santander began coverage on Banco Macro SA in a report on Wednesday, March 23rd. They set a “hold” rating and a $73.00 price target for the company. Goldman Sachs Group Inc. began coverage on Banco Macro SA in a report on Wednesday, April 27th. They set a “neutral” rating for the company. Credit Suisse Group AG began coverage on Banco Macro SA in a report on Tuesday, March 29th. They set a “neutral” rating and a $71.00 price target for the company. Finally, Zacks Investment Research raised Banco Macro SA from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, April 5th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.25.
The company’s 50 day moving average price is $72.07 and its 200-day moving average price is $65.74. The firm has a market capitalization of $4.62 billion and a P/E ratio of 12.70.
Several institutional investors have made changes to their positions in the stock. PNC Financial Services Group Inc. raised 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 worth $1,923,000 after buying an additional 4,933 shares during the last quarter. Shell Asset Management Co. purchased a new stake in Banco Macro SA during the fourth quarter valued at about $1,384,000. GAM Holding AG raised its stake in 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. Finally, Morgan Stanley raised its stake in 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.
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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