Banco Macro (NYSE:BMA) cut to fit on

Macro Bank (NYSE: BMA – Get a rating) was downgraded by from a “buy” rating to a “hold” rating in a research note released Friday to investors.

Separately, Grupo Santander upgraded Banco Macro’s shares from a “maintaining” rating to an “outperforming” rating in a Monday, June 13 research report.

Banco Macro shares fall 5.0%

BMA shares traded down $0.69 on Friday, hitting $13.20. 193,436 shares were traded, against an average volume of 249,302. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt ratio of 0.18. The company has a market capitalization of $844.02 million, a P/E ratio of 3.30 and a beta of 1.43. Banco Macro has a fifty-two week low of $9.72 and a fifty-two week high of $21.20. The company has a 50-day moving average of $11.93 and a 200-day moving average of $14.23.

Macro Bank (NYSE: BMA – Get a rating) last released its quarterly earnings data on Monday, May 23. The bank reported earnings per share (EPS) of $0.88 for the quarter, beating consensus analyst estimates of $0.57 from $0.31. Banco Macro posted a net margin of 10.13% and a return on equity of 11.28%. The company posted revenue of $489.63 million for the quarter, versus a consensus estimate of $446.10 million. Equity analysts expect Banco Macro to post EPS of 2.81 for the current year.

Institutional investors weigh on Banco Macro


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Large investors have recently increased or reduced their stakes in the stock. Discovery Capital Management LLC CT increased its position in Banco Macro shares by 149.0% in the fourth quarter. Discovery Capital Management LLC CT now owns 523,152 shares of the bank valued at $7,335,000 after purchasing an additional 313,048 shares last quarter. Autonomy Capital Jersey LP increased its position in Banco Macro by 28.8% during the fourth quarter. Autonomy Capital Jersey LP now owns 242,921 shares of the bank valued at $3,406,000 after buying an additional 54,316 shares last quarter. Eaton Vance Management bought a new stake in Banco Macro during the first quarter worth $3,724,000. Marathon Asset Management LP acquired a new equity stake in Banco Macro in Q4 valued at $2,804,000. Finally, Light Sky Macro LP bought a new position in Banco Macro shares in Q4 worth $2,445,000. Institutional investors and hedge funds own 6.75% of the company’s shares.

About Banco Macro

(Get a rating)

Banco Macro SA provides various banking products and services to individuals and businesses in Argentina. It offers various retail banking products and services, such as savings and checking accounts, term deposits, credit and debit cards, consumer loans, mortgages, auto loans, overdrafts , credit-related services, home and auto insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.

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