Bank of America Corp DE Purchases 3,205 Shares of Banco Macro S.A. (NYSE:BMA)

Bank of America Corp DE grew its position in Banco Macro S.A. (NYSE:BMA) by 93.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,631 shares of the bank’s stock after buying an additional 3,205 shares during the period. Bank of America Corp DE’s holdings in Banco Macro were worth $642,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Absolute Gestao de Investimentos Ltda. acquired a new stake in Banco Macro in the 4th quarter worth approximately $2,267,000. Schonfeld Strategic Advisors LLC acquired a new stake in Banco Macro in the 4th quarter worth approximately $958,000. Northern Trust Corp acquired a new stake in Banco Macro in the 4th quarter worth approximately $238,000. Hood River Capital Management LLC boosted its stake in Banco Macro by 123.2% in the 4th quarter. Hood River Capital Management LLC now owns 4,449 shares of the bank’s stock worth $430,000 after purchasing an additional 2,456 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Banco Macro by 32.2% in the 4th quarter. Stifel Financial Corp now owns 15,682 shares of the bank’s stock worth $1,517,000 after purchasing an additional 3,822 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Banco Macro from $78.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Itau BBA Securities assumed coverage on shares of Banco Macro in a research report on Tuesday, May 20th. They set a “market perform” rating and a $85.00 price target for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Banco Macro presently has an average rating of “Hold” and an average target price of $62.13.

Banco Macro Trading Down 1.2%

Shares of BMA opened at $75.56 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Banco Macro S.A. has a 12-month low of $42.23 and a 12-month high of $118.42. The firm has a 50-day moving average price of $85.45 and a 200 day moving average price of $90.34. The firm has a market capitalization of $4.83 billion, a P/E ratio of 6.62 and a beta of 1.68.

Banco Macro (NYSE:BMA) last announced its earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($1.11). The company had revenue of $759.36 million for the quarter, compared to analysts’ expectations of $837.49 billion. Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. Sell-side analysts forecast that Banco Macro S.A. will post 7.84 EPS for the current year.

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.