Banco Macro SA ADR (NYSE:BMA) shares rose 6.8% during trading on Tuesday . The company traded as high as $61.82 and last traded at $61.80. Approximately 1,222,650 shares traded hands during trading, an increase of 155% from the average daily volume of 479,512 shares. The stock had previously closed at $57.87.
BMA has been the subject of a number of research reports. Santander upgraded Banco Macro from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. ValuEngine upgraded Banco Macro from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Zacks Investment Research downgraded Banco Macro from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Finally, HSBC downgraded Banco Macro from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $52.00.
The company has a quick ratio of 1.08, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.70 billion, a P/E ratio of 7.90 and a beta of 0.31.
The company also recently announced an annual dividend, which was paid on Tuesday, May 21st. Stockholders of record on Monday, May 13th were given a dividend of $2.249 per share. The ex-dividend date was Friday, May 10th. This represents a dividend yield of 4.69%. Banco Macro’s dividend payout ratio is currently 55.75%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Banco Macro by 16.9% in the fourth quarter. BlackRock Inc. now owns 1,895,172 shares of the bank’s stock worth $83,804,000 after purchasing an additional 273,982 shares during the period. Odey Asset Management Group Ltd increased its stake in shares of Banco Macro by 64.1% during the fourth quarter. Odey Asset Management Group Ltd now owns 1,879,723 shares of the bank’s stock valued at $83,121,000 after buying an additional 734,101 shares during the period. FIL Ltd increased its stake in shares of Banco Macro by 532.3% during the first quarter. FIL Ltd now owns 1,607,462 shares of the bank’s stock valued at $73,558,000 after buying an additional 1,353,256 shares during the period. Morgan Stanley increased its stake in shares of Banco Macro by 33.2% during the first quarter. Morgan Stanley now owns 754,513 shares of the bank’s stock valued at $34,525,000 after buying an additional 188,193 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Banco Macro by 626.0% during the first quarter. Lazard Asset Management LLC now owns 750,323 shares of the bank’s stock valued at $34,334,000 after buying an additional 646,972 shares during the period. Hedge funds and other institutional investors own 23.69% of the company’s stock.
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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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