Shares of Macro Bank Inc. (NYSE:BMA) fell 2.7% during mid-day trading on Tuesday . The stock traded as low as $96.81 and last traded at $113.97. 468,700 shares were traded during mid-day trading, an increase of 154% from the average session volume of 184,275 shares. The stock had previously closed at $117.18.

Several research firms recently issued reports on BMA. ValuEngine upgraded Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Macro Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Santander downgraded Macro Bank from a “hold” rating to an “underperform” rating in a research report on Friday, September 8th. Goldman Sachs Group, Inc. (The) downgraded Macro Bank from a “buy” rating to a “neutral” rating and set a $113.70 target price for the company. in a research report on Monday, September 11th. Finally, BidaskClub upgraded Macro Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $116.35.

The company has a market capitalization of $6,970.00, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.24 and a current ratio of 1.24.

Several hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH bought a new stake in shares of Macro Bank during the 3rd quarter worth $1,033,000. Invictus RG lifted its position in shares of Macro Bank by 1,003.0% during the 3rd quarter. Invictus RG now owns 3,629 shares of the bank’s stock worth $426,000 after buying an additional 3,300 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Macro Bank during the 3rd quarter worth $669,000. Carmignac Gestion lifted its position in shares of Macro Bank by 64.1% during the 3rd quarter. Carmignac Gestion now owns 2,865,692 shares of the bank’s stock worth $336,289,000 after buying an additional 1,119,072 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Macro Bank by 14.7% during the 3rd quarter. Wells Fargo & Company MN now owns 408,982 shares of the bank’s stock worth $47,994,000 after buying an additional 52,381 shares during the last quarter. Institutional investors and hedge funds own 28.11% of the company’s stock.

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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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