Banco Macro (NYSE:BMA) Shares Gap Up – What’s Next?

Banco Macro S.A. (NYSE:BMA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $92.98, but opened at $96.24. Banco Macro shares last traded at $104.80, with a volume of 220,843 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BMA shares. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised Banco Macro from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $78.00 in a report on Friday, August 30th. Finally, Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective for the company in a research report on Monday.

Banco Macro Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The business has a 50-day simple moving average of $79.26 and a 200 day simple moving average of $65.93. The firm has a market cap of $6.69 billion, a PE ratio of 9.13 and a beta of 1.75.

Institutional Trading of Banco Macro

Several institutional investors have recently made changes to their positions in BMA. Blue Trust Inc. grew its position in shares of Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after purchasing an additional 387 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Banco Macro during the second quarter valued at approximately $51,000. Headlands Technologies LLC boosted its stake in Banco Macro by 262.0% during the second quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock valued at $142,000 after buying an additional 1,797 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its stake in Banco Macro by 6.2% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after buying an additional 323 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in Banco Macro during the second quarter valued at approximately $362,000.

Banco Macro Company 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.