Macro Bank (NYSE:BMA) Downgraded by Itau BBA Securities to Market Perform

Key Points

• Itau BBA Securities downgraded Macro Bank from “outperform” to “market perform,” although the broader analyst consensus remains “Moderate Buy” with a $111.25 average price target.
• Macro Bank shares opened at $78.94, up 0.7%, and remain below their 52-week high of $106.15. The stock has a $5.04 billion market capitalization and a P/E ratio of 17.27.
• The bank exceeded quarterly expectations, reporting $2.29 in earnings per share versus the $1.86 estimate and $1 billion in revenue compared with the $946.46 million consensus forecast.

Macro Bank (NYSE:BMA - Get Free Report) was downgraded by Itau BBA Securities from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen upgraded Macro Bank from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. Zacks Research raised shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Macro Bank from $120.00 to $132.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Finally, Weiss Ratings raised shares of Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.25.

Macro Bank Stock Up 0.7%

Shares of BMA stock opened at $78.94 on Thursday. The stock has a market cap of $5.04 billion, a P/E ratio of 17.27, a PEG ratio of 0.35 and a beta of 1.38. Macro Bank has a 52 week low of $38.30 and a 52 week high of $106.15. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.26. The company's fifty day simple moving average is $86.46 and its two-hundred day simple moving average is $82.26.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.43. Macro Bank had a return on equity of 8.65% and a net margin of 5.95%.The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $946.46 million. Analysts predict that Macro Bank will post 8.35 EPS for the current fiscal year.

Institutional Trading of Macro Bank

Institutional investors have recently bought and sold shares of the stock. PointState Capital LP increased its position in Macro Bank by 266.9% during the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank's stock valued at $77,311,000 after acquiring an additional 623,755 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Macro Bank by 100.7% in the 3rd quarter. Millennium Management LLC now owns 575,206 shares of the bank's stock worth $24,325,000 after acquiring an additional 288,614 shares during the last quarter. Cape Ann Asset Management Ltd lifted its holdings in shares of Macro Bank by 1.3% in the 1st quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank's stock worth $36,434,000 after acquiring an additional 5,892 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Macro Bank by 19.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,217 shares of the bank's stock worth $14,806,000 after purchasing an additional 26,694 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of Macro Bank by 1,060.6% during the 4th quarter. Verition Fund Management LLC now owns 138,760 shares of the bank's stock worth $12,511,000 after purchasing an additional 126,804 shares during the period.

Macro Bank Company Profile

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

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