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 research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $111.25.

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

Institutional Investors Weigh In On Macro Bank

Several institutional investors have recently made changes to their positions in BMA. ABS Direct Equity Fund LLC purchased a new position in shares of Macro Bank in the second quarter valued at $2,268,000. Engineers Gate Manager LP bought a new position in Macro Bank in the 2nd quarter worth about $1,418,000. NewEdge Advisors LLC purchased a new position in Macro Bank during the 2nd quarter valued at about $310,000. Squarepoint Ops LLC grew its holdings in Macro Bank by 36.7% during the 2nd quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank’s stock valued at $428,000 after buying an additional 1,242 shares in the last quarter. Finally, Militia Capital Management LLC bought a new stake in shares of Macro Bank during the first quarter valued at about $2,932,000.

Macro Bank Stock Down 0.2%

Shares of NYSE:BMA opened at $68.75 on Monday. Macro Bank has a 1 year low of $39.30 and a 1 year high of $106.15. The company has a market capitalization of $4.39 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.31 and a beta of 1.38. The business has a fifty day moving average price of $81.19 and a two-hundred day moving average price of $81.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 1.08.

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

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.