Freedom Investment Management Inc. Buys Shares of 9,026 Banco Macro S.A. (NYSE:BMA)

Freedom Investment Management Inc. purchased a new position in shares of Banco Macro S.A. (NYSE:BMA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,026 shares of the bank’s stock, valued at approximately $573,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Banco Macro by 118.3% during the 3rd quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after acquiring an additional 387 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Banco Macro in the second quarter valued at approximately $51,000. Headlands Technologies LLC increased its stake in Banco Macro by 262.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock worth $142,000 after buying an additional 1,797 shares during the period. Shilanski & Associates Inc. purchased a new position in Banco Macro in the 2nd quarter valued at approximately $244,000. Finally, Beverly Hills Private Wealth LLC grew its stake in shares of Banco Macro by 6.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock worth $316,000 after acquiring an additional 323 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BMA shares. Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $62.00 in a research note on Thursday, August 8th. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $78.00 in a research note on Friday, August 30th.

Banco Macro Stock Up 3.5 %

BMA stock opened at $84.90 on Friday. The firm has a fifty day moving average price of $75.22 and a two-hundred day moving average price of $64.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.79 and a quick ratio of 0.79. Banco Macro S.A. has a 1-year low of $24.41 and a 1-year high of $86.12. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 8.30 and a beta of 1.77.

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.