Northern Trust Corp Invests $238,000 in Banco Macro S.A. (NYSE:BMA)

Northern Trust Corp bought a new stake in shares of Banco Macro S.A. (NYSE:BMA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,459 shares of the bank’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC increased its stake in Banco Macro by 0.8% during the 4th quarter. Townsquare Capital LLC now owns 13,447 shares of the bank’s stock worth $1,301,000 after buying an additional 113 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Banco Macro by 1,829.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock worth $58,000 after purchasing an additional 567 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Banco Macro in the 4th quarter valued at $63,000. Blue Trust Inc. grew its holdings in shares of Banco Macro by 171.6% during the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock worth $188,000 after buying an additional 1,225 shares in the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new stake in Banco Macro during the 4th quarter valued at about $199,000.

Analysts Set New Price Targets

BMA has been the subject of a number of analyst reports. Itau BBA Securities initiated coverage on Banco Macro in a research report on Tuesday, May 20th. They issued a “market perform” rating and a $85.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of Banco Macro from $78.00 to $89.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.13.

Banco Macro Trading Down 2.9%

Shares of NYSE BMA opened at $82.07 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.24 billion, a PE ratio of 7.19 and a beta of 1.73. The stock has a fifty day simple moving average of $85.47 and a 200-day simple moving average of $90.50. Banco Macro S.A. has a twelve month low of $42.23 and a twelve month high of $118.42.

Banco Macro (NYSE:BMA) last released its earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($1.11). The business had revenue of $759.36 million for the quarter, compared to analyst estimates of $837.49 billion. Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. On average, equities analysts forecast that Banco Macro S.A. will post 7.84 earnings per share for the current year.

Banco Macro 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.