The Goldman Sachs Group Upgrades Macro Bank (NYSE:BMA) to “Strong-Buy”

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

A number of other research firms have also issued reports on BMA. Itau BBA Securities upgraded Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. HSBC raised shares of Macro Bank from a “hold” rating to a “buy” rating and lowered their price objective for the company from $104.00 to $80.00 in a research report on Wednesday, October 1st. Zacks Research cut shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Hsbc Global Res upgraded shares of Macro Bank to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Citigroup raised shares of Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Two research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.38.

Macro Bank Trading Down 0.1%

Shares of Macro Bank stock opened at $84.98 on Monday. The company has a fifty day simple moving average of $57.32 and a 200-day simple moving average of $68.91. Macro Bank has a 12-month low of $38.30 and a 12-month high of $118.42. 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 stock has a market cap of $5.43 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.59 and a beta of 1.56.

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

Institutional Trading of Macro Bank

Several institutional investors have recently added to or reduced their stakes in BMA. Candriam S.C.A. acquired a new position in shares of Macro Bank in the 3rd quarter valued at about $13,643,000. Cape Ann Asset Management Ltd lifted its holdings in Macro Bank by 66.2% in the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank’s stock worth $19,505,000 after acquiring an additional 183,700 shares during the last quarter. Sagil Capital LLP acquired a new position in Macro Bank in the second quarter valued at approximately $10,094,000. Marshall Wace LLP grew its holdings in shares of Macro Bank by 4,089.3% during the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank’s stock valued at $8,439,000 after purchasing an additional 117,322 shares during the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Macro Bank during the 2nd quarter worth approximately $5,020,000.

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.