U.S. Markets closed

Banco Macro S.A. (BMA) Soars: Stock Adds 5.4% in Session

Zacks Equity Research

Banco Macro S.A. (BMA) was a big mover last session, as its shares rose over 5% on the day. The rise came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend for the company, as the stock is now trading above the volatile price range of $28.98 to $32.20 in the past one-month timeframe.

In the last 30-day frame, the company witnessed one positive estimate revision for the upcoming quarter and the Zacks Consensus Estimate also moved higher, suggestive of more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can translate into more strength down the road.

Banco currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Other better-ranked stocks in the foreign banks sector include HDFC Bank Ltd. (HDB), Lloyds Banking Group plc (LYG) and Bank of Montreal (BMO). All three carry a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

BANCO MACRO SA (BMA): Free Stock Analysis Report

HDFC BANK LTD (HDB): Free Stock Analysis Report

LLOYDS BANKING GROUP PLC (LYG): Free Stock Analysis Report

BANK OF MONTREAL (BMO): Free Stock Analysis Report

Zacks Investment Research