Banco Macro (NYSE:BMA) Shares Pass Above 200-Day Moving Average of $33.44

Banco Macro S.A. (NYSE:BMA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $33.44 and traded as high as $57.09. Banco Macro shares last traded at $56.08, with a volume of 346,522 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Banco Macro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 30th.

Banco Macro Stock Up 2.6 %

The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $46.84 and its 200 day simple moving average is $33.44.

Hedge Funds Weigh In On Banco Macro

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP raised its stake in shares of Banco Macro by 2,178.8% in the third quarter. Quantbot Technologies LP now owns 9,115 shares of the bank’s stock worth $180,000 after purchasing an additional 8,715 shares during the last quarter. Purus Wealth Management LLC purchased a new stake in Banco Macro during the 4th quarter worth approximately $230,000. Claro Advisors LLC acquired a new position in Banco Macro in the 1st quarter valued at $260,000. Norden Group LLC acquired a new stake in shares of Banco Macro in the first quarter valued at about $261,000. Finally, Penserra Capital Management LLC acquired a new position in Banco Macro during the third quarter worth about $364,000.

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 (ATMs), and money transfers.