Banco Macro (NYSE:BMA) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a note issued to investors on Monday.
According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “
A number of other equities analysts also recently weighed in on the stock. Santander raised shares of Banco Macro from an “underperform” rating to a “hold” rating in a report on Wednesday, December 6th. UBS Group downgraded shares of Banco Macro from an “outperform” rating to a “market perform” rating in a report on Friday, November 24th. Finally, ValuEngine raised shares of Banco Macro from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $112.35.
Several large investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new position in shares of Banco Macro in the 4th quarter worth about $439,000. Eaton Vance Management purchased a new position in shares of Banco Macro in the 4th quarter worth about $1,587,000. TCW Group Inc. purchased a new position in shares of Banco Macro in the 4th quarter worth about $2,526,000. Virtu Financial LLC purchased a new position in shares of Banco Macro in the 4th quarter worth about $544,000. Finally, BlackRock Inc. boosted its holdings in shares of Banco Macro by 2.1% in the 4th quarter. BlackRock Inc. now owns 424,692 shares of the bank’s stock worth $49,213,000 after buying an additional 8,532 shares during the last quarter. 29.75% of the stock is currently owned by institutional investors.
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About Banco Macro
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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