Banco Macro (NYSE:BMA) Shares Cross Above 200-Day Moving Average of $33.44

Banco Macro S.A. (NYSE:BMA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.44 and traded as high as $57.09. Banco Macro shares last traded at $56.08, with a volume of 346,522 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Banco Macro from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 30th.

Banco Macro Trading Up 2.6 %

The firm’s fifty day simple moving average is $46.84 and its two-hundred day simple moving average is $33.44. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On Banco Macro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversify Advisory Services LLC purchased a new stake in Banco Macro in the first quarter valued at approximately $854,000. Norden Group LLC acquired a new position in Banco Macro during the 1st quarter worth approximately $261,000. Claro Advisors LLC purchased a new position in Banco Macro in the first quarter valued at $260,000. Fourth Sail Capital LP acquired a new stake in shares of Banco Macro during the 1st quarter worth about $9,038,000. Finally, HAP Trading LLC increased its stake in Banco Macro by 148.7% in the fourth quarter. HAP Trading LLC now owns 36,736 shares of the bank’s stock valued at $1,054,000 after purchasing an additional 21,964 shares during the last quarter.

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 (ATMs), and money transfers.