Macro Bank Inc. (NYSE:BMA) Stock Has Average Price Target of $101.25 According to Analysts

Shares of Macro Bank Inc. (NYSE:BMA) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $101.25.

BMA has been the subject of several research reports. Weiss Ratings downgraded shares of Macro Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, September 29th. Wall Street Zen downgraded shares of Macro Bank from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Itau BBA Securities downgraded shares of Macro Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. UBS Group cut their price objective on shares of Macro Bank from $130.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. Finally, Zacks Research cut shares of Macro Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th.

Macro Bank Stock Down 3.4%

BMA opened at $55.28 on Tuesday. The firm has a market cap of $3.53 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.10. The business has a 50 day moving average price of $67.00 and a 200 day moving average price of $79.28. Macro Bank has a twelve month low of $54.56 and a twelve month high of $106.15.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.43. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $946.46 million. Research analysts forecast that Macro Bank will post 8.35 EPS for the current year.

Institutional Trading of Macro Bank

A number of hedge funds have recently modified their holdings of BMA. Cape Ann Asset Management Ltd increased its position in shares of Macro Bank by 1.3% during the first quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank’s stock valued at $36,434,000 after purchasing an additional 5,892 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Macro Bank by 53.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 273,122 shares of the bank’s stock worth $18,280,000 after purchasing an additional 95,014 shares during the period. Absolute Gestao de Investimentos Ltda. acquired a new stake in Macro Bank during the first quarter worth $7,815,000. Militia Capital Management LLC acquired a new stake in Macro Bank during the first quarter worth $2,932,000. Finally, ABS Direct Equity Fund LLC acquired a new stake in Macro Bank during the second quarter worth $2,268,000.

About Macro Bank

Macro Bank, formally Banco Macro S.A., is an Argentine financial services company that provides banking products to individuals, businesses and other organizations. Its services include deposit accounts, personal and commercial loans, credit and debit cards, and digital banking, as well as cash-management and other banking services for businesses. The company serves customers across Argentina through its banking network and online channels. Its history dates to 1976, when it began as a financial institution before expanding into commercial banking.