Banco Macro (NYSE:BMA) Hits New 52-Week High – Time to Buy?

Banco Macro S.A. (NYSE:BMA)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $110.00 and last traded at $109.17, with a volume of 432807 shares traded. The stock had previously closed at $96.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a research note on Monday, December 16th. StockNews.com lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

Banco Macro Stock Up 12.8 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The stock’s fifty day simple moving average is $87.10 and its two-hundred day simple moving average is $69.64. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 9.57 and a beta of 1.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BMA. Tidal Investments LLC raised its position in shares of Banco Macro by 139.3% during the third quarter. Tidal Investments LLC now owns 14,904 shares of the bank’s stock worth $946,000 after purchasing an additional 8,675 shares during the period. Virtu Financial LLC purchased a new position in Banco Macro in the 3rd quarter worth about $644,000. TT International Asset Management LTD raised its holdings in Banco Macro by 21.9% during the 3rd quarter. TT International Asset Management LTD now owns 611,476 shares of the bank’s stock worth $38,828,000 after buying an additional 109,793 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in Banco Macro by 300.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock valued at $974,000 after buying an additional 11,507 shares in the last quarter. Finally, Dorsey Wright & Associates boosted its holdings in shares of Banco Macro by 13.1% in the third quarter. Dorsey Wright & Associates now owns 75,100 shares of the bank’s stock worth $4,769,000 after buying an additional 8,679 shares during the period.

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.