Banco Macro SA (NYSE:BMA – Get Rating) saw a sharp decline in short-term interest in May. As of May 15, there was short interest totaling 297,900 shares, down 37.0% from the April 30 total of 473,100 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 233,100 shares, the short interest ratio is currently 1.3 days.
Hedge funds and other institutional investors have recently changed their holdings in the company. BNP Paribas Arbitrage SA increased its position in Banco Macro shares by 15.7% in the first quarter. BNP Paribas Arbitrage SA now owns 51,354 shares in the bank worth $888,000 after acquiring an additional 6,963 shares in the last quarter. Eaton Vance Management acquired a new position in Banco Macro during the first quarter worth approximately $3,724,000. Engineers Gate Manager LP acquired a new position in Banco Macro during the first quarter worth approximately $253,000. UBS Group AG increased its position in Banco Macro by 3,316.4% during the first quarter. UBS Group AG now owns 12,299 shares in the bank valued at $213,000 after buying an additional 11,939 shares last quarter. Finally, Verition Fund Management LLC purchased a new equity stake in Banco Macro during the first quarter valued at approximately $2,595,000. Institutional investors and hedge funds own 6.75% of the company’s shares.
BMA has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Banco Macro’s shares from a “neutral” rating to an “underweight” rating in a Monday, Jan. 31 research note. Zacks Investment Research upgraded Banco Macro shares from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11. Finally, StockNews.com upgraded Banco Macro shares from a “strong buy” rating to a “buy” rating in a Monday, May 23 research rating. An equity research analyst rated the stock with a sell rating, three gave the company a hold rating, and one gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.13.
NYSE: BMA opened at $16.48 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt ratio of 0.19. The company has a 50-day moving average price of $16.08 and a two-hundred-day moving average price of $15.03. Banco Macro has a 12-month low of $12.06 and a 12-month high of $21.20. The company has a market capitalization of $1.05 billion, a P/E ratio of 4.72 and a beta of 1.32.
Banco Macro (NYSE:BMA – Get Rating) last released its results on Wednesday, February 23. The bank reported earnings per share of $1.60 for the quarter, beating the consensus estimate of $0.77 by $0.83. The company posted revenue of $462.34 million in the quarter, versus a consensus estimate of $303.58 million. Banco Macro posted a net margin of 9.51% and a return on equity of 10.76%. On average, equity research analysts expect Banco Macro to post earnings per share of 3.44 for the current year.
About Banco Macro (Get a rating)
Banco Macro SA provides various banking products and services to individuals and businesses in Argentina. It offers various retail banking products and services, such as savings and checking accounts, term deposits, credit and debit cards, consumer loans, mortgages, auto loans, overdrafts , credit-related services, home and auto insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.
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