Macro Bank Inc. (NYSE:BMA) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Macro Bank Inc. (NYSE:BMA) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $101.25.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Macro Bank from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings cut shares of Macro Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 29th. 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. UBS Group dropped their price target on Macro Bank from $130.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. Finally, Itau BBA Securities cut Macro Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BMA. Absolute Gestao de Investimentos Ltda. purchased a new position in Macro Bank in the 1st quarter worth approximately $7,815,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Macro Bank by 53.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 273,122 shares of the bank’s stock valued at $18,280,000 after purchasing an additional 95,014 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Macro Bank during the fourth quarter valued at approximately $6,762,000. Pictet Asset Management Holding SA boosted its stake in shares of Macro Bank by 104.2% during the first quarter. Pictet Asset Management Holding SA now owns 107,005 shares of the bank’s stock valued at $8,279,000 after purchasing an additional 54,597 shares during the period. Finally, Militia Capital Management LLC purchased a new stake in shares of Macro Bank during the first quarter valued at approximately $2,932,000.

Macro Bank Trading Up 0.6%

Macro Bank stock opened at $63.30 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.10. Macro Bank has a fifty-two week low of $52.15 and a fifty-two week high of $106.15. The stock has a market cap of $4.04 billion, a P/E ratio of 11.22, a PEG ratio of 0.28 and a beta of 1.37. The firm’s fifty day moving average price is $72.85 and its 200-day moving average price is $80.94.

Macro Bank (NYSE:BMA) last issued its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $1.86 by $0.43. The company had revenue of $1 billion during 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%. Equities research analysts forecast that Macro Bank will post 8.35 earnings per share for the current fiscal year.

About Macro Bank

Banco Macro SA is an Argentine financial institution headquartered in Buenos Aires and listed on the New York Stock Exchange under the symbol BMA. The bank provides banking and financial services to individuals, small and medium-sized businesses, corporate customers and public-sector entities throughout Argentina.

Its offerings include deposit accounts, personal and commercial loans, credit and debit cards, insurance, investment and cash-management products, foreign-exchange services and electronic banking.