Macro Bank Inc. (NYSE:BMA – Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $57.75 and last traded at $59.05, with a volume of 25,475 shares. The stock had previously closed at $59.00.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Macro Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Weiss Ratings cut 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 cut shares of Macro Bank from a “strong-buy” rating to a “buy” rating in a research note 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. Finally, UBS Group decreased their target price on shares of Macro Bank from $130.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.25.
Get Our Latest Stock Report on BMA
Macro Bank Stock Performance
The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $70.15 and a 200 day moving average price of $80.73. The firm has a market cap of $3.75 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.27 and a beta of 1.50.
Macro Bank (NYSE:BMA – Get Free Report) last posted its earnings results on Thursday, August 20th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.43. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $946.46 million. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. As a group, equities research analysts expect that Macro Bank Inc. will post 8.35 earnings per share for the current fiscal year.
Institutional Trading of Macro Bank
Several institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in Macro Bank in the second quarter valued at $1,418,000. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Macro Bank during the 1st quarter worth $7,815,000. Militia Capital Management LLC purchased a new position in shares of Macro Bank during the 1st quarter worth $2,932,000. Hsbc Holdings PLC increased its position in shares of Macro Bank by 85.7% during the 4th quarter. Hsbc Holdings PLC now owns 37,228 shares of the bank’s stock worth $3,315,000 after purchasing an additional 17,185 shares during the last quarter. Finally, ABS Direct Equity Fund LLC acquired a new stake in shares of Macro Bank during the 2nd quarter worth about $2,268,000.
Macro Bank Company Profile
Banco Macro SA is an Argentine financial institution headquartered in Buenos Aires and listed on the New York Stock Exchange under the symbol BMA. The bank provides banking and financial services to individuals, small and medium-sized businesses, corporate customers and public-sector entities throughout Argentina.
Its offerings include deposit accounts, personal and commercial loans, credit and debit cards, insurance, investment and cash-management products, foreign-exchange services and electronic banking.
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