Banco Macro (NYSE:BMA) Trading Down 5.6% – Here’s Why

Banco Macro S.A. (NYSE:BMA)’s stock price dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as $92.00 and last traded at $90.06. Approximately 15,311 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 353,872 shares. The stock had previously closed at $95.40.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price on the stock in a research report on Monday, December 16th.

Banco Macro Stock Down 5.9 %

The company has a 50-day moving average of $100.44 and a two-hundred day moving average of $79.20. 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 company has a market capitalization of $5.74 billion, a PE ratio of 7.87 and a beta of 1.67.

Banco Macro (NYSE:BMA) last posted its quarterly earnings results on Wednesday, November 27th. The bank reported $1.51 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%. Sell-side analysts anticipate that Banco Macro S.A. will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal Advantage Investments Inc. raised its stake 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 purchasing an additional 300 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 387 shares during the period. Sigma Planning Corp increased its position in shares of Banco Macro by 6.7% during the third quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock worth $398,000 after acquiring an additional 395 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Banco Macro by 136.1% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after buying an additional 452 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Banco Macro in the 4th quarter worth $63,000.

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.