Macro Bank Inc. (BMA) Raised to “Buy” at BidaskClub
BidaskClub upgraded shares of Macro Bank Inc. (NYSE:BMA) from a hold rating to a buy rating in a research report released on Saturday morning.
Several other analysts also recently weighed in on the company. Credit Suisse Group upgraded Macro Bank from a neutral rating to an outperform rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded Macro Bank from a hold rating to a strong-buy rating and set a $101.00 target price on the stock in a research note on Thursday, May 11th. Finally, ValuEngine upgraded Macro Bank from a buy rating to a strong-buy rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Macro Bank presently has a consensus rating of Buy and an average price target of $92.75.
Macro Bank (NYSE BMA) opened at 107.82 on Friday. Macro Bank has a 1-year low of $61.12 and a 1-year high of $108.15. The firm has a 50 day moving average of $90.93 and a 200-day moving average of $87.35. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 17.70 and a beta of 1.39.
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A number of institutional investors have recently bought and sold shares of BMA. Nationwide Fund Advisors raised its position in Macro Bank by 24.1% in the first quarter. Nationwide Fund Advisors now owns 67,000 shares of the bank’s stock valued at $5,809,000 after buying an additional 13,000 shares during the period. State of New Jersey Common Pension Fund D raised its position in Macro Bank by 16.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 63,193 shares of the bank’s stock valued at $5,479,000 after buying an additional 8,748 shares during the period. Russell Investments Group Ltd. raised its position in Macro Bank by 4.2% in the first quarter. Russell Investments Group Ltd. now owns 220,418 shares of the bank’s stock valued at $19,109,000 after buying an additional 8,958 shares during the period. Wells Fargo & Company MN raised its position in Macro Bank by 27.6% in the first quarter. Wells Fargo & Company MN now owns 132,266 shares of the bank’s stock valued at $11,429,000 after buying an additional 28,581 shares during the period. Finally, Eqis Capital Management Inc. bought a new position in Macro Bank during the first quarter valued at about $374,000. Institutional investors own 31.54% of the company’s stock.
About Macro Bank
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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