Banco Macro (NYSE:BMA) Price Target Raised to $89.00 at JPMorgan Chase & Co.

Banco Macro (NYSE:BMA) had its price target raised by JPMorgan Chase & Co. from $78.00 to $89.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Banco Macro Stock Down 2.9 %

Shares of BMA opened at $88.68 on Monday. The firm has a 50 day simple moving average of $82.42 and a two-hundred day simple moving average of $87.44. The company has a market cap of $5.67 billion, a P/E ratio of 7.77 and a beta of 1.53. Banco Macro has a one year low of $42.23 and a one year high of $118.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in shares of Banco Macro by 1,829.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock valued at $58,000 after purchasing an additional 567 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Banco Macro during the fourth quarter worth $63,000. GAMMA Investing LLC increased its holdings in shares of Banco Macro by 136.1% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after buying an additional 452 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Banco Macro by 171.6% during the 4th quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock valued at $188,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in Banco Macro during the 4th quarter worth $199,000.

About Banco Macro

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.