Macro Bank Inc. (BMA) Upgraded by ValuEngine to “Strong-Buy”
ValuEngine upgraded shares of Macro Bank Inc. (NYSE:BMA) from a buy rating to a strong-buy rating in a research note released on Friday morning.
Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Macro Bank from a hold rating to a buy rating and set a $97.00 price target on the stock in a research note on Friday, June 16th. BidaskClub upgraded shares of Macro Bank from a hold rating to a buy rating in a research note on Saturday, August 26th. Finally, Credit Suisse Group upgraded shares of Macro Bank from a neutral rating to an outperform rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $92.75.
Shares of Macro Bank (BMA) traded up 2.51% during midday trading on Friday, hitting $106.42. 174,542 shares of the stock were exchanged. Macro Bank has a 12 month low of $61.12 and a 12 month high of $108.99. The stock has a 50 day moving average price of $93.12 and a 200-day moving average price of $88.21. The company has a market cap of $7.01 billion, a PE ratio of 17.11 and a beta of 1.36.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Carmignac Gestion increased its stake in shares of Macro Bank by 540.5% in the second quarter. Carmignac Gestion now owns 1,746,620 shares of the bank’s stock valued at $161,021,000 after buying an additional 1,473,904 shares during the last quarter. PointState Capital LP increased its stake in shares of Macro Bank by 179.4% in the second quarter. PointState Capital LP now owns 1,717,800 shares of the bank’s stock valued at $158,364,000 after buying an additional 1,102,900 shares during the last quarter. Genesis Asset Managers LLP increased its stake in shares of Macro Bank by 13.4% in the second quarter. Genesis Asset Managers LLP now owns 1,155,491 shares of the bank’s stock valued at $106,525,000 after buying an additional 136,358 shares during the last quarter. Third Point LLC purchased a new stake in shares of Macro Bank during the second quarter valued at $82,971,000. Finally, Alliancebernstein L.P. increased its stake in shares of Macro Bank by 127.0% in the second quarter. Alliancebernstein L.P. now owns 522,292 shares of the bank’s stock valued at $48,150,000 after buying an additional 292,249 shares during the last quarter. Institutional investors own 31.54% 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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