Truist Financial Corp Takes Position in Banco Macro S.A. (NYSE:BMA)

Truist Financial Corp acquired a new stake in Banco Macro S.A. (NYSE:BMA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,602 shares of the bank’s stock, valued at approximately $252,000.

Several other hedge funds also recently bought and sold shares of BMA. NorthRock Partners LLC purchased a new stake in Banco Macro in the 3rd quarter worth approximately $381,000. Sigma Planning Corp increased its holdings in shares of Banco Macro by 6.7% in the third quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock worth $398,000 after purchasing an additional 395 shares during the period. BNP Paribas Financial Markets raised its position in shares of Banco Macro by 351.0% in the third quarter. BNP Paribas Financial Markets now owns 51,327 shares of the bank’s stock worth $3,259,000 after buying an additional 39,947 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in Banco Macro during the third quarter valued at $573,000. Finally, Verition Fund Management LLC purchased a new position in Banco Macro during the third quarter worth about $800,000.

Banco Macro Stock Performance

Banco Macro stock opened at $85.58 on Thursday. Banco Macro S.A. has a fifty-two week low of $38.28 and a fifty-two week high of $118.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The stock has a market cap of $5.47 billion, a P/E ratio of 7.50 and a beta of 1.67. The firm’s fifty day moving average price is $98.75 and its 200-day moving average price is $83.28.

Analysts Set New Price Targets

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

Banco Macro 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.