Goldman Sachs Group Inc. upgraded shares of Banco Macro SA (NYSE:BMA) from a neutral rating to a buy rating in a research report report published on Monday morning. Goldman Sachs Group Inc. currently has $86.50 price objective on the stock, up from their prior price objective of $83.90.
Several other research analysts have also issued reports on BMA. JPMorgan Chase & Co. upgraded Banco Macro SA from a neutral rating to an overweight rating in a research report on Friday, June 17th. Zacks Investment Research raised shares of Banco Macro SA from a hold rating to a buy rating and set a $89.00 price target for the company in a research note on Tuesday, August 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $77.70.
Shares of Banco Macro SA (NYSE:BMA) opened at 76.75 on Monday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 10.81 and a beta of 1.56. Banco Macro SA has a 52 week low of $35.93 and a 52 week high of $83.18. The firm’s 50-day moving average price is $76.50 and its 200 day moving average price is $70.39.
Several hedge funds have recently bought and sold shares of BMA. NN Investment Partners Holdings N.V. acquired a new position in shares of Banco Macro SA during the first quarter worth approximately $101,000. Avalon Advisors LLC acquired a new position in shares of Banco Macro SA during the first quarter worth approximately $206,000. Smith Asset Management Group LP acquired a new position in shares of Banco Macro SA during the second quarter worth approximately $210,000. World Asset Management Inc increased its position in shares of Banco Macro SA by 8.3% in the second quarter. World Asset Management Inc now owns 3,549 shares of the company’s stock worth $263,000 after buying an additional 272 shares during the period. Finally, Barclays PLC acquired a new position in shares of Banco Macro SA during the second quarter worth approximately $344,000. 19.34% of the stock is owned by hedge funds and other institutional investors.
About Banco Macro SA
Banco Macro SA 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 Limited, Macro Securities SA, Macro Fiducia SA and Macro Fondos S.G.F.C.I.
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