Banco Macro (NYSE:BMA) Shares Down 3.6% – Time to Sell?

Shares of Banco Macro S.A. (NYSE:BMA) dropped 3.6% during trading on Friday . The stock traded as low as $102.31 and last traded at $101.53. Approximately 114,423 shares were traded during trading, a decline of 70% from the average daily volume of 382,181 shares. The stock had previously closed at $105.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com lowered Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Morgan Stanley raised shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price target for the company in a report on Monday, December 16th.

Banco Macro Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The firm’s fifty day moving average price is $96.21 and its 200-day moving average price is $74.96. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 9.00 and a beta of 1.68.

Banco Macro (NYSE:BMA) last issued its quarterly earnings data on Wednesday, November 27th. The bank reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.70). Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. On average, equities analysts expect that Banco Macro S.A. will post 7.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BMA. 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 valued at $188,000 after buying an additional 1,225 shares in the last quarter. Crocodile Capital Partners GmbH purchased a new position in Banco Macro in the fourth quarter valued at about $726,000. Shilanski & Associates Inc. purchased a new stake in shares of Banco Macro during the 4th quarter worth about $451,000. Legal Advantage Investments Inc. lifted its holdings in shares of Banco Macro by 4.0% during the 4th quarter. Legal Advantage Investments Inc. now owns 7,800 shares of the bank’s stock valued at $755,000 after buying an additional 300 shares during the last quarter. Finally, Systrade AG bought a new stake in shares of Banco Macro in the 4th quarter valued at approximately $968,000.

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.