Banco Macro (NYSE:BMA) Shares Gap Down – Here’s What Happened

Banco Macro S.A. (NYSE:BMA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $92.17, but opened at $88.84. Banco Macro shares last traded at $90.81, with a volume of 101,253 shares trading hands.

Analyst Ratings Changes

Separately, Morgan Stanley upgraded shares of 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, December 16th.

Banco Macro Stock Up 0.2 %

The firm’s fifty day moving average price is $101.05 and its 200-day moving average price is $80.60. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 8.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

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

Institutional Trading of Banco Macro

A number of institutional investors have recently bought and sold shares of the company. Townsquare Capital LLC boosted its position in Banco Macro by 0.8% during the fourth quarter. Townsquare Capital LLC now owns 13,447 shares of the bank’s stock valued at $1,301,000 after acquiring an additional 113 shares during the last quarter. Legal Advantage Investments Inc. boosted its position in Banco Macro by 4.0% during the fourth quarter. Legal Advantage Investments Inc. now owns 7,800 shares of the bank’s stock valued at $755,000 after acquiring an additional 300 shares during the last quarter. Blue Trust Inc. boosted its position in Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after acquiring an additional 387 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Banco Macro by 6.7% during the 3rd quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock worth $398,000 after purchasing an additional 395 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Banco Macro by 136.1% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after purchasing an additional 452 shares in the last quarter.

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.