Macro Bank (NYSE:BMA) Trading 4.5% Higher – What’s Next?

Macro Bank Inc. (NYSE:BMA) shares rose 4.5% on Monday . The company traded as high as $79.56 and last traded at $79.48. 94,644 shares changed hands during trading, a decline of 70% from the average daily volume of 310,445 shares. The stock had previously closed at $76.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 5th. JPMorgan Chase & Co. raised their price objective on shares of Macro Bank from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Zacks Research upgraded shares of Macro Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Macro Bank has an average rating of “Buy” and an average price target of $111.25.

Macro Bank Price Performance

The company’s 50-day simple moving average is $87.37 and its 200 day simple moving average is $82.54. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.34 and a beta of 1.46.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. PointState Capital LP lifted its holdings in Macro Bank by 266.9% in the 4th quarter. PointState Capital LP now owns 857,488 shares of the bank’s stock worth $77,311,000 after purchasing an additional 623,755 shares during the last quarter. Millennium Management LLC boosted its position in Macro Bank by 100.7% during the third quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock worth $24,325,000 after purchasing an additional 288,614 shares during the period. Verition Fund Management LLC grew its holdings in Macro Bank by 1,060.6% during the fourth quarter. Verition Fund Management LLC now owns 138,760 shares of the bank’s stock valued at $12,511,000 after purchasing an additional 126,804 shares during the last quarter. Marshall Wace LLP grew its holdings in Macro Bank by 4,089.3% during the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock valued at $8,439,000 after purchasing an additional 117,322 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new position in shares of Macro Bank in the fourth quarter valued at approximately $10,378,000.

Macro Bank Company Profile

Macro Bank (NYSE: BMA) is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.