Zacks Investment Research Downgrades Banco Macro (BMA) to Strong Sell

Zacks Investment Research downgraded shares of Banco Macro (NYSE:BMA) from a buy rating to a strong sell rating in a research report released on Monday morning.

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. “

BMA has been the topic of a number of other research reports. ValuEngine upgraded Banco Macro from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Santander upgraded Banco Macro from an underperform rating to a hold rating in a research note on Wednesday, December 6th. Finally, UBS Group cut Banco Macro from an outperform rating to a market perform rating in a research note on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Banco Macro has a consensus rating of Hold and a consensus target price of $112.35.

Shares of Banco Macro (NYSE BMA) opened at $100.79 on Monday. Banco Macro has a 12 month low of $76.34 and a 12 month high of $136.10. The stock has a market capitalization of $6,343.25, a P/E ratio of 12.89, a PEG ratio of 1.76 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.24 and a current ratio of 1.24.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. raised its stake in Banco Macro by 22.8% in the 4th 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 period. Royal Bank of Canada raised its stake in Banco Macro by 66.6% in the 2nd 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 period. Allianz Asset Management GmbH raised its stake in Banco Macro by 7.8% in the 4th quarter. Allianz Asset Management GmbH now owns 9,488 shares of the bank’s stock valued at $1,099,000 after acquiring an additional 690 shares during the period. Rational Advisors LLC raised its stake in Banco Macro by 30.4% in the 4th quarter. Rational Advisors LLC now owns 3,000 shares of the bank’s stock valued at $348,000 after acquiring an additional 700 shares during the period. Finally, Citigroup Inc. raised its stake in Banco Macro by 30.8% in the 2nd quarter. Citigroup Inc. now owns 3,091 shares of the bank’s stock valued at $285,000 after acquiring an additional 727 shares during the period. Institutional investors and hedge funds own 29.75% of the company’s stock.

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Banco Macro Company 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.

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