Yahoo Finance Are Finance Stocks Lagging Macro Bank (BMA) This Year?
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Banco Macro (BMA) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Banco Macro is a member of the Finance sector. This group includes 859 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Banco Macro is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BMA's full-year earnings has moved 114.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BMA has returned 73.6% so far this year. Meanwhile, the Finance sector has returned an average of -0.5% on a year-to-date basis. This means that Banco Macro is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Bancolombia (CIB). The stock is up 6.1% year-to-date.
Over the past three months, Bancolombia's consensus EPS estimate for the current year has increased 1.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Banco Macro belongs to the Banks - Foreign industry, a group that includes 67 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, stocks in this group have gained 1.3% this year, meaning that BMA is performing better in terms of year-to-date returns. Bancolombia is also part of the same industry.
Banco Macro and Bancolombia could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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Macro Bank Inc. (BMA) : Free Stock Analysis Report
BanColombia S.A. (CIB) : Free Stock Analysis Report
