Macro Bank (NYSE:BMA) Upgraded to Strong-Buy at Hsbc Global Res

Macro Bank (NYSE:BMA) was upgraded by research analysts at Hsbc Global Res to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

BMA has been the topic of several other research reports. Citigroup downgraded Macro Bank from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. HSBC raised Macro Bank from a “hold” rating to a “buy” rating and reduced their price objective for the company from $104.00 to $80.00 in a research note on Wednesday. Finally, Zacks Research cut Macro Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Macro Bank currently has a consensus rating of “Hold” and a consensus price target of $66.63.

Macro Bank Stock Up 3.4%

Shares of BMA opened at $41.75 on Wednesday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 3.66, a PEG ratio of 0.75 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. Macro Bank has a 52 week low of $38.30 and a 52 week high of $118.42. The stock has a fifty day moving average of $58.11 and a 200-day moving average of $72.05.

Macro Bank (NYSE:BMA) last issued its earnings results on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). The firm had revenue of $834.78 million during the quarter, compared to the consensus estimate of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. As a group, sell-side analysts anticipate that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Institutional Trading of Macro Bank

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Macro Bank by 93.5% in the 4th quarter. Bank of America Corp DE now owns 6,631 shares of the bank’s stock worth $642,000 after acquiring an additional 3,205 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Macro Bank by 9,810.7% in the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank’s stock worth $5,867,000 after buying an additional 76,916 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in shares of Macro Bank in the first quarter worth $310,000. Insigneo Advisory Services LLC grew its position in Macro Bank by 64.0% during the first quarter. Insigneo Advisory Services LLC now owns 4,174 shares of the bank’s stock valued at $315,000 after buying an additional 1,629 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Macro Bank in the first quarter valued at about $557,000.

Macro Bank Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.