Stick With Banco Macro S.A. (NYSE: BMA). The Bull Are Alive And Well


Odey Asset Management LLP recently announced the acquisition of new stake in Banco Macro S.A. (NYSE:BMA). The institutional investor has increased its shareholding in the Financial company by 1.53% to 2.74 million shares with purchase of 41382.0 shares. This fresh investment now brings its stake to 4.37% valued currently at $47.07 million. In addition, SSgA Funds Management, Inc. raised its holdings by 67995.0 to 1.6 million shares. And Acadian Asset Management LLC has lifted its position by 54.77% or 0.27 million shares – to 0.75 million shares.

With over 0.3 million Banco Macro S.A. (BMA) shares trading Thursday and a closing price of $20.33 on the day, the dollar volume was approximately $6.04 million. The shares have shown a positive weekly performance of 8.37% and its price on 07/09/20 lost nearly -4.15%. Currently, there are 63.94M common shares owned by the public and among those 26.28M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for BMA have a consensus price objective of $28.81. The analysts have set the share’s price value over the next 12 months at a high of $78.80 and a low of $8.90 should the stock experience a downside. Incidentally, analysts’ outlook for the Banco Macro S.A. stock is 3.70 for the next 12 months. The average price target is 34.04% above its last price level and an upside to the estimated low will see the stock lose -128.43% over that period. But an upside of 74.2% will see the stock hit the forecast high price target while mean target price for the stock is $20.50.

Insiders at the company have nil transactions over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC).

The top 3 mutual fund holders in Banco Macro S.A. are Odey European Inc., Odey Investments Plc – Swan Fund, and iShares Core MSCI Emerging Market. Odey European Inc. owns 0.5 million shares of the company’s stock, all valued at over $8.55 million. The company bought an additional 900.0 shares recently to bring their total holdings to about 0.79% of the shares outstanding. Odey Investments Plc – Swan Fund bought 0.29 million shares to see its total holdings expand to 0.36 million shares valued at over $6.21 million and representing 0.58% of the shares outstanding. iShares Core MSCI Emerging Market has total holdings to over 0.34 million shares at a value of $5.88 million. iShares Core MSCI Emerging Market now owns shares totaling to 0.55% of the shares outstanding.

Shares of Banco Macro S.A. (NYSE: BMA) opened at $21.30, up $0.09 from a prior closing price of $21.21. However, the script later closed the day at $20.33, down -4.15%. The company’s stock has a 5-day price change of 8.37% and 26.12% over the past three months. BMA shares are trading -43.92% year to date (YTD), with the 12-month market performance down to -72.73% lower. It has a 12-month low price of $13.59 and touched a high of $77.31 over the same period. Currently, 0.3 million shares have been traded, compared to an average intraday trading volume of 775.65K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.01%, 4.26%, and -17.27% respectively.

Institutional ownership of Banco Macro S.A. (NYSE: BMA) shares accounts for 22.20% of the company’s 63.94M shares outstanding. Mutual fund holders own 13.65%, while other institutional holders and individual stakeholders account for 8.30% and — respectively.

It has a market capitalization of $2.12B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 2.26, while the earnings-per-share (ttm) stands at $8.99. The company has a debt-to-equity ratio of 0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.85% over the week and 6.89% over the month.

Analysts forecast that Banco Macro S.A. (BMA) will achieve an EPS of $2.24 for the current quarter, $2.07 for the next quarter and $7.55 for 2021. The lowest estimate earnings-per-share for the quarter is $2.21 while analysts give the company a high EPS estimate of $2.27. Comparatively, EPS for the current quarter was $2.51 a year ago. Earnings per share for the fiscal year are expected to increase by 168.20%, and -11.43% over the next financial year. EPS should shrink at an annualized rate of -9.70% over the next five years, compared to 60.70% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Banco Macro S.A. (BMA) as a “Hold” at a consensus score of 3.70. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 3 rated it as a “Sell.”

Looking at the support for the BMA, a number of firms have released research notes about the stock. Scotiabank stated their Sector Underperform rating for the stock in a research note on January 17, 2020. Citigroup coverage for the Banco Macro S.A. (BMA) stock in a research note released on September 19, 2019 offered a Neutral rating with a price target of. BofA/Merrill was of a view on September 19, 2019 that the stock is Underperform, while Morgan Stanley gave the stock Underweight rating on August 12, 2019. HSBC Securities on their part issued Hold rating on June 05, 2019.


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