Banco Macro (NYSE:BMA) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of Banco Macro (NYSE:BMA) from an underweight rating to an overweight rating in a report published on Monday, Marketbeat.com reports. They currently have $12.50 target price on the bank’s stock.

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

Banco Macro Stock Performance

BMA stock opened at $106.79 on Monday. The firm has a 50 day simple moving average of $79.26 and a 200 day simple moving average of $65.93. Banco Macro has a 52 week low of $24.41 and a 52 week high of $107.98. The stock has a market cap of $6.83 billion, a P/E ratio of 9.13 and a beta of 1.75. 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

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in Banco Macro by 118.3% during the 3rd quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after acquiring an additional 387 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Banco Macro during the second quarter worth $51,000. Headlands Technologies LLC boosted its holdings in Banco Macro by 262.0% in the second quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock valued at $142,000 after acquiring an additional 1,797 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its holdings in Banco Macro by 6.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after acquiring an additional 323 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Banco Macro during the 2nd quarter worth about $362,000.

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.