Banco Macro (NYSE:BMA) Trading Down 5.9%

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Shares of Banco Macro SA ADR (NYSE:BMA) traded down 5.9% on Monday . The company traded as low as $68.47 and last traded at $68.96, 640,184 shares were traded during mid-day trading. An increase of 33% from the average session volume of 480,069 shares. The stock had previously closed at $73.30.

A number of equities research analysts have weighed in on the company. TheStreet raised SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a report on Thursday, June 13th. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. HSBC downgraded Banco Macro from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. Finally, Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.00.

The firm’s fifty day simple moving average is $64.65. The firm has a market capitalization of $4.91 billion, a PE ratio of 8.82 and a beta of 0.65. The company has a current ratio of 0.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44.

Banco Macro (NYSE:BMA) last released its quarterly earnings data on Thursday, May 9th. The bank reported $2.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.62. Banco Macro had a return on equity of 31.08% and a net margin of 21.82%. The company had revenue of $423.75 million for the quarter. On average, equities analysts forecast that Banco Macro SA ADR will post 8.25 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMA. Icon Wealth Partners LLC acquired a new stake in shares of Banco Macro during the 1st quarter valued at $41,000. Marshall Wace LLP acquired a new stake in shares of Banco Macro during the 1st quarter valued at $98,000. Comerica Bank acquired a new stake in shares of Banco Macro during the 4th quarter valued at $219,000. Marshall Wace North America L.P. acquired a new stake in shares of Banco Macro during the 1st quarter valued at $238,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Banco Macro during the 1st quarter valued at $504,000. 23.66% of the stock is currently owned by institutional investors.

Banco Macro Company Profile (NYSE:BMA)

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail 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.

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