Banco Macro (NYSE:BMA) was upgraded by research analysts at Santander from an “underperform” rating to a “hold” rating in a note issued to investors on Wednesday, The Fly reports.

BMA has been the subject of several other reports. Zacks Investment Research raised Banco Macro from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Tuesday, November 21st. Goldman Sachs Group downgraded Banco Macro from a “buy” rating to a “neutral” rating and set a $113.70 price objective for the company. in a research note on Monday, September 11th. ValuEngine downgraded Banco Macro from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub raised Banco Macro from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, UBS downgraded Banco Macro from an “outperform” rating to a “market perform” rating in a research note on Friday, November 24th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $112.35.

Shares of Banco Macro (NYSE:BMA) traded up $1.77 during trading on Wednesday, reaching $106.27. The company had a trading volume of 147,600 shares, compared to its average volume of 204,143. The stock has a market cap of $6,881.95, a P/E ratio of 13.36, a P/E/G ratio of 2.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.24 and a current ratio of 1.24. Banco Macro has a 1 year low of $61.12 and a 1 year high of $136.10.

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its position in Banco Macro by 66.6% in the 2nd quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock worth $129,000 after purchasing an additional 560 shares during the last quarter. Rational Advisors LLC increased its holdings in shares of Banco Macro by 64.3% during the 2nd quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock valued at $212,000 after acquiring an additional 900 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Banco Macro by 3,796.7% during the 2nd quarter. Advisor Group Inc. now owns 2,377 shares of the bank’s stock valued at $219,000 after acquiring an additional 2,316 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new position in shares of Banco Macro during the 3rd quarter valued at about $228,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Banco Macro during the 2nd quarter valued at about $229,000. 31.17% of the stock is currently owned by institutional investors.

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Banco Macro Company Profile

Banco Macro SA is an Argnetina-based financial institution (the Bank) that offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.

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