Zacks Investment Research lowered shares of Macro Bank Inc. (NYSE:BMA) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “

Several other research analysts also recently weighed in on the company. ValuEngine upgraded Macro Bank from a buy rating to a strong-buy rating in a research note on Friday, July 28th. Credit Suisse Group upgraded Macro Bank from a neutral rating to an outperform rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Macro Bank has an average rating of Buy and a consensus price target of $92.75.

Macro Bank (BMA) traded up 1.34% during trading on Wednesday, reaching $85.34. 161,180 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $88.50 and its 200-day moving average price is $85.78. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 12.72 and a beta of 1.39. Macro Bank has a 12 month low of $61.12 and a 12 month high of $97.86.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. increased its position in shares of Macro Bank by 36.5% in the first quarter. Sei Investments Co. now owns 4,095 shares of the bank’s stock valued at $355,000 after buying an additional 1,095 shares in the last quarter. BARING ASSET MANAGEMENT Ltd increased its position in shares of Macro Bank by 120.9% in the first quarter. BARING ASSET MANAGEMENT Ltd now owns 50,167 shares of the bank’s stock valued at $4,349,000 after buying an additional 27,461 shares in the last quarter. World Asset Management Inc increased its position in shares of Macro Bank by 2.5% in the first quarter. World Asset Management Inc now owns 3,571 shares of the bank’s stock valued at $310,000 after buying an additional 86 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Macro Bank during the first quarter valued at approximately $269,000. Finally, Opera Trading Capital bought a new position in shares of Macro Bank during the first quarter valued at approximately $4,807,000. Institutional investors and hedge funds own 23.69% of the company’s stock.

Macro Bank Company Profile

Banco Macro SA is an Argnetina-based financial institution (the Bank) that offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.

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