Macro Bank (NYSE:BMA) Raised to Strong-Buy at The Goldman Sachs Group

Macro Bank (NYSE:BMA) was upgraded by research analysts at The Goldman Sachs Group to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

BMA has been the topic of several other reports. Hsbc Global Res raised shares of Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Macro Bank in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $104.00 to $80.00 in a research report on Wednesday, October 1st. Finally, Itau BBA Securities upgraded shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.38.

Macro Bank Stock Performance

Shares of NYSE BMA opened at $84.48 on Monday. Macro Bank has a 12 month low of $38.30 and a 12 month high of $118.42. The stock has a 50 day moving average of $57.32 and a 200-day moving average of $68.91. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $5.40 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.59 and a beta of 1.56.

Macro Bank (NYSE:BMA) last released its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.04). The company had revenue of $834.78 million for the quarter, compared to the consensus estimate of $752.51 million. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%. As a group, equities research analysts predict that Macro Bank will post 7.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock valued at $59,000 after purchasing an additional 124 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Macro Bank in the 3rd quarter valued at $117,000. Burns Matteson Capital Management LLC raised its holdings in shares of Macro Bank by 30.4% during the 1st quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank’s stock worth $202,000 after buying an additional 624 shares in the last quarter. Deuterium Capital Management LLC bought a new stake in shares of Macro Bank during the 1st quarter worth $218,000. Finally, Benjamin Edwards Inc. acquired a new stake in Macro Bank in the third quarter valued at about $254,000.

About Macro Bank

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.