Banco Macro (NYSE:BMA) Shares Down 3.6% – Should You Sell?

Banco Macro S.A. (NYSE:BMA) fell 3.6% on Friday . The company traded as low as $102.31 and last traded at $101.53. 114,423 shares traded hands during trading, a decline of 70% from the average session volume of 382,181 shares. The stock had previously closed at $105.32.

Analyst Upgrades and Downgrades

BMA has been the subject of several analyst reports. Morgan Stanley raised shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price target for the company in a report on Monday, December 16th. StockNews.com lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

Banco Macro Trading Down 2.6 %

The business has a 50 day moving average of $96.21 and a 200 day moving average of $74.96. 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 firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 9.00 and a beta of 1.68.

Banco Macro (NYSE:BMA) last issued its quarterly earnings data on Wednesday, November 27th. The bank reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.70). Banco Macro had a net margin of 15.12% and a return on equity of 26.55%. As a group, research analysts predict that Banco Macro S.A. will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Macro

Several institutional investors and hedge funds have recently modified their holdings of BMA. Blue Trust Inc. boosted its holdings in shares of Banco Macro by 171.6% in the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock valued at $188,000 after buying an additional 1,225 shares during the period. Crocodile Capital Partners GmbH acquired a new stake in Banco Macro in the 4th quarter valued at approximately $726,000. Shilanski & Associates Inc. acquired a new position in Banco Macro during the fourth quarter worth $451,000. Legal Advantage Investments Inc. grew its position in Banco Macro by 4.0% in the fourth quarter. Legal Advantage Investments Inc. now owns 7,800 shares of the bank’s stock valued at $755,000 after purchasing an additional 300 shares in the last quarter. Finally, Systrade AG acquired a new stake in Banco Macro in the 4th quarter valued at $968,000.

About Banco Macro

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.