Banco Macro (NYSE:BMA) Rating Increased to Strong-Buy at StockNews.com

Banco Macro (NYSE:BMAGet Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Banco Macro Stock Performance

Shares of BMA opened at $48.18 on Friday. The firm’s 50-day moving average price is $37.83 and its 200-day moving average price is $28.51. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.20. Banco Macro has a 1-year low of $16.49 and a 1-year high of $54.67.

Institutional Investors Weigh In On Banco Macro

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in shares of Banco Macro during the 2nd quarter valued at about $42,000. UBS Group AG bought a new stake in Banco Macro during the third quarter worth about $36,000. Barclays PLC bought a new stake in Banco Macro during the second quarter worth about $53,000. Barometer Capital Management Inc. bought a new stake in Banco Macro during the fourth quarter worth about $112,000. Finally, Purus Wealth Management LLC bought a new stake in Banco Macro during the fourth quarter worth about $230,000.

About Banco Macro

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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 (ATMs), and money transfers.

Further Reading

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