Macro Bank (NYSE:BMA) Earns “Hold (C-)” Rating from Weiss Ratings

Macro Bank (NYSE:BMA)‘s stock had its “hold (c-)” rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on BMA. Citigroup downgraded shares of Macro Bank from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Hsbc Global Res upgraded shares of Macro Bank to a “strong-buy” rating in a report on Wednesday, October 1st. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and reduced their target price for the company from $104.00 to $80.00 in a research note on Wednesday, October 1st. Finally, Zacks Research downgraded 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 given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Macro Bank presently has an average rating of “Hold” and an average price target of $66.63.

Macro Bank Stock Up 17.2%

Shares of NYSE:BMA opened at $51.43 on Wednesday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 4.51, a P/E/G ratio of 0.82 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day moving average is $55.45 and its 200-day moving average is $70.81. Macro Bank has a 1 year low of $38.30 and a 1 year high of $118.42.

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

Hedge Funds Weigh In On Macro Bank

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Macro Bank by 11.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank’s stock worth $4,271,000 after purchasing an additional 5,629 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in Macro Bank during the first quarter worth $310,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Macro Bank in the 1st quarter valued at $557,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Macro Bank in the first quarter valued at about $31,000. Finally, Cetera Investment Advisers lifted its position in shares of Macro Bank by 46.2% during the 1st quarter. Cetera Investment Advisers now owns 13,476 shares of the bank’s stock worth $1,018,000 after buying an additional 4,261 shares in the last quarter.

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.