Philadelphia Financial Management of San Francisco LLC purchased a new position in Banco Macro SA (NYSE:BMA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 131,643 shares of the bank’s stock, valued at approximately $15,255,000. Banco Macro accounts for about 2.3% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 23rd biggest position. Philadelphia Financial Management of San Francisco LLC owned about 0.20% of Banco Macro at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in BMA. Icon Wealth Partners LLC bought a new position in Banco Macro in the fourth quarter valued at $104,000. Earnest Partners LLC bought a new position in Banco Macro in the fourth quarter valued at $128,000. Royal Bank of Canada increased its stake in Banco Macro by 66.6% in the second quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock valued at $129,000 after acquiring an additional 560 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Banco Macro in the third quarter valued at $317,000. Finally, Advisor Group Inc. increased its stake in Banco Macro by 22.8% in the fourth quarter. Advisor Group Inc. now owns 2,748 shares of the bank’s stock valued at $319,000 after acquiring an additional 511 shares during the last quarter. 30.57% of the stock is currently owned by hedge funds and other institutional investors.
Banco Macro SA (BMA) traded up $1.23 during midday trading on Wednesday, reaching $111.20. 30,663 shares of the company’s stock traded hands, compared to its average volume of 250,548. The company has a current ratio of 1.26, a quick ratio of 1.24 and a debt-to-equity ratio of 0.18. Banco Macro SA has a twelve month low of $81.75 and a twelve month high of $136.10. The stock has a market capitalization of $7,393.65, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.
A number of research firms recently commented on BMA. Zacks Investment Research raised Banco Macro from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. HSBC raised Banco Macro from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. UBS Group raised Banco Macro from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup raised Banco Macro from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, ValuEngine cut Banco Macro from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Banco Macro presently has an average rating of “Buy” and a consensus price target of $112.35.
Banco Macro 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.
Want to see what other hedge funds are holding BMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Macro SA (NYSE:BMA).
Receive News & Ratings for Banco Macro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Macro and related companies with MarketBeat.com's FREE daily email newsletter.