Macro Bank (NYSE:BMA) Stock Gets Price Target Reduction from UBS Group

Macro Bank (NYSE:BMA) had its price target lowered by equities research analysts at UBS Group from $130.00 to $90.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. UBS Group’s target price indicates a potential upside of 37.05% from the company’s previous close.

A number of other equities research analysts also recently issued reports on BMA. Itau BBA Securities downgraded Macro Bank from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. Weiss Ratings cut Macro Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 29th. JPMorgan Chase & Co. boosted their target price on Macro Bank from $120.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen downgraded Macro Bank from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.25.

Macro Bank Price Performance

NYSE BMA traded up $0.68 on Tuesday, hitting $65.67. The stock had a trading volume of 274,728 shares, compared to its average volume of 307,760. Macro Bank has a 52-week low of $50.24 and a 52-week high of $106.15. 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 company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The firm has a 50-day moving average of $75.48 and a 200-day moving average of $81.32.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Macro Bank by 93.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 634 shares of the bank’s stock valued at $42,000 after purchasing an additional 306 shares during the last quarter. ABS Direct Equity Fund LLC purchased a new stake in Macro Bank in the second quarter worth approximately $2,268,000. Engineers Gate Manager LP bought a new stake in shares of Macro Bank in the 2nd quarter worth approximately $1,418,000. NewEdge Advisors LLC bought a new stake in shares of Macro Bank in the 2nd quarter worth approximately $310,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Macro Bank by 36.7% in the 2nd quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank’s stock worth $428,000 after acquiring an additional 1,242 shares during the last quarter.

Macro Bank Company Profile

Banco Macro SA, which trades on the New York Stock Exchange under the symbol BMA, is an Argentine financial institution serving individuals, businesses and government-related customers. The bank provides traditional banking services, including checking and savings accounts, time deposits, personal and commercial loans, credit and debit cards, payment services, foreign-exchange services and electronic banking.

Banco Macro also offers financial products for small and midsize businesses, agricultural customers and corporate clients.