Banco Macro (NYSE:BMA) Stock Price Down 3.8% – Should You Sell?

Banco Macro S.A. (NYSE:BMA)’s share price was down 3.8% during mid-day trading on Friday . The stock traded as low as $106.78 and last traded at $107.33. Approximately 163,268 shares traded hands during trading, a decline of 54% from the average daily volume of 356,636 shares. The stock had previously closed at $111.63.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMA. StockNews.com cut shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price for the company in a research report on Monday, December 16th.

Banco Macro Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The company has a 50 day simple moving average of $94.52 and a 200-day simple moving average of $73.86. The firm has a market cap of $6.69 billion, a PE ratio of 9.17 and a beta of 1.68.

Institutional Investors Weigh In On Banco Macro

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after purchasing an additional 387 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Banco Macro by 136.1% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after buying an additional 452 shares during the period. NorthRock Partners LLC bought a new stake in shares of Banco Macro in the 3rd quarter valued at about $381,000. Sigma Planning Corp lifted its stake in shares of Banco Macro by 6.7% in the 3rd quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock valued at $398,000 after acquiring an additional 395 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Banco Macro during the 3rd quarter worth approximately $421,000.

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.