Banco Macro (NYSE:BMA) Trading Down 5.6% – What’s Next?

Banco Macro S.A. (NYSE:BMA)’s share price dropped 5.6% during trading on Tuesday . The company 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.

Analyst Upgrades and Downgrades

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

Banco Macro Trading Down 5.9 %

The stock has a 50-day simple moving average of $100.44 and a 200 day simple moving average of $79.20. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 7.87 and a beta of 1.67.

Banco Macro (NYSE:BMA) last announced its quarterly earnings results on Wednesday, November 27th. The bank reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.70). Banco Macro had a net margin of 15.12% and a return on equity of 26.55%. As a group, equities research analysts predict that Banco Macro S.A. will post 7.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco Macro

A number of large investors have recently modified their holdings of BMA. Legal Advantage Investments Inc. lifted its stake in Banco Macro by 4.0% in the 4th quarter. Legal Advantage Investments Inc. now owns 7,800 shares of the bank’s stock worth $755,000 after purchasing an additional 300 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 387 shares during the period. Sigma Planning Corp lifted its position in Banco Macro by 6.7% in the third quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock valued at $398,000 after buying an additional 395 shares during the last quarter. GAMMA Investing LLC increased its holdings in Banco Macro by 136.1% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock valued at $76,000 after purchasing an additional 452 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Banco Macro in the fourth quarter valued at approximately $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.