Banco Macro (NYSE:BMA) Stock Rating Upgraded by Morgan Stanley

Banco Macro (NYSE:BMA) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a report released on Monday, MarketBeat.com reports. The firm presently has a $12.50 price target on the bank’s stock. Morgan Stanley’s price target would suggest a potential downside of 86.56% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Price Performance

BMA stock opened at $92.98 on Monday. The firm has a market cap of $5.95 billion, a P/E ratio of 8.15 and a beta of 1.75. The stock’s 50 day moving average price is $79.26 and its 200 day moving average price is $65.93. Banco Macro has a 1 year low of $24.41 and a 1 year high of $93.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BMA. Tidal Investments LLC lifted its stake in shares of Banco Macro by 139.3% during the third quarter. Tidal Investments LLC now owns 14,904 shares of the bank’s stock worth $946,000 after purchasing an additional 8,675 shares in the last quarter. Virtu Financial LLC acquired a new stake in Banco Macro in the third quarter valued at approximately $644,000. TT International Asset Management LTD boosted its stake in shares of Banco Macro by 21.9% in the third quarter. TT International Asset Management LTD now owns 611,476 shares of the bank’s stock valued at $38,828,000 after purchasing an additional 109,793 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Banco Macro by 300.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock valued at $974,000 after purchasing an additional 11,507 shares in the last quarter. Finally, Dorsey Wright & Associates increased its stake in Banco Macro by 13.1% during the 3rd quarter. Dorsey Wright & Associates now owns 75,100 shares of the bank’s stock worth $4,769,000 after buying an additional 8,679 shares during the period.

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.