Macro Bank Inc. (NYSE:BMA) Stock Has Average Price Target of $111.25

Shares of Macro Bank Inc. (NYSE:BMA) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $111.25.

A number of equities analysts recently issued reports on BMA shares. Wall Street Zen lowered shares of Macro Bank from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. JPMorgan Chase & Co. boosted their price objective on Macro Bank from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Itau BBA Securities downgraded shares of Macro Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Macro Bank in a report on Friday, September 11th. Finally, Zacks Research upgraded Macro Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd.

Macro Bank Trading Down 3.2%

NYSE BMA opened at $68.75 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. Macro Bank has a 1-year low of $39.30 and a 1-year high of $106.15. The firm’s fifty day simple moving average is $81.19 and its 200-day simple moving average is $81.48. The company has a market capitalization of $4.39 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.32 and a beta of 1.38.

Macro Bank (NYSE:BMA) last issued its earnings results on Thursday, August 20th. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.43. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $946.46 million. Macro Bank had a return on equity of 8.65% and a net margin of 5.95%. As a group, sell-side analysts anticipate that Macro Bank will post 8.35 earnings per share for the current fiscal year.

Institutional Trading of Macro Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Wealth Planning LLC bought a new position in shares of Macro Bank during the fourth quarter valued at approximately $10,378,000. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Macro Bank in the 1st quarter worth approximately $7,815,000. Alpine Global Management LLC bought a new stake in shares of Macro Bank in the 4th quarter worth approximately $6,762,000. Compass Rose Asset Management LP purchased a new stake in shares of Macro Bank in the 4th quarter worth approximately $6,437,000. Finally, Pictet Asset Management Holding SA grew its stake in shares of Macro Bank by 104.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 107,005 shares of the bank’s stock worth $8,279,000 after buying an additional 54,597 shares during the last quarter.

Macro Bank Company Profile

Banco Macro SA, operating under the Macro Bank name and listed on the New York Stock Exchange under the symbol BMA, is an Argentine financial institution serving individuals, small and medium-sized businesses, corporations and public-sector customers. The bank provides a broad range of banking and financial services through its branch network and digital channels.

Its products and services include personal and commercial loans, checking and savings accounts, time deposits, credit and debit cards, foreign-exchange services, payment solutions, insurance and investment products.