Wrapmanager Inc. Decreases Position in Banco Macro S.A. (NYSE:BMA)

Wrapmanager Inc. lowered its stake in shares of Banco Macro S.A. (NYSE:BMA) by 17.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,094 shares of the bank’s stock after selling 850 shares during the quarter. Wrapmanager Inc.’s holdings in Banco Macro were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMA. Sigma Planning Corp boosted its stake in Banco Macro by 6.7% during the third quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock worth $398,000 after buying an additional 395 shares during the period. NorthRock Partners LLC purchased a new stake in Banco Macro in the 3rd quarter worth about $381,000. Diversify Wealth Management LLC boosted its position in shares of Banco Macro by 4.3% during the third quarter. Diversify Wealth Management LLC now owns 16,657 shares of the bank’s stock valued at $1,058,000 after buying an additional 693 shares during the period. X Square Capital LLC purchased a new position in shares of Banco Macro during the third quarter valued at approximately $445,000. Finally, Blue Trust Inc. grew its stake in shares of Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after buying an additional 387 shares during the last quarter.

Banco Macro Trading Down 4.2 %

Shares of NYSE:BMA opened at $80.91 on Wednesday. The business’s 50 day moving average is $72.78 and its 200 day moving average is $62.96. Banco Macro S.A. has a 52-week low of $22.13 and a 52-week high of $86.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.79.

Banco Macro (NYSE:BMA) last issued its earnings results on Thursday, August 22nd. The bank reported ($4.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($5.50). Banco Macro had a return on equity of 25.98% and a net margin of 12.58%. The business had revenue of $1.03 billion for the quarter. During the same quarter last year, the firm posted $2.69 EPS. Sell-side analysts predict that Banco Macro S.A. will post 6.35 EPS for the current fiscal year.

Analysts Set New Price Targets

BMA has been the subject of a number of research analyst reports. Bank of America raised Banco Macro from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $78.00 in a research note on Friday, August 30th. Finally, StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Company Profile

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, and money transfers.