Macro Bank (NYSE:BMA) Stock Gets Price Target Cut from UBS Group

Key Points

• UBS Group cut Macro Bank’s price target from $130 to $90 but maintained a “buy” rating, implying approximately 37% upside from the previous close.
• Analyst sentiment remains mixed but leans positive: Macro Bank has a consensus “Moderate Buy” rating and an average price target of $101.25, despite recent downgrades from several firms.
• BMA shares traded at $65.67, well below their 52-week high of $106.15. The bank beat quarterly expectations, reporting $2.29 in EPS versus the $1.86 consensus and revenue of about $1 billion.

Macro Bank (NYSE:BMA - Get Free Report) had its price target decreased by analysts at UBS Group from $130.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the bank's stock. UBS Group's target price would suggest a potential upside of 37.05% from the company's previous close.

Several other equities analysts have also weighed in on BMA. Weiss Ratings lowered Macro Bank from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, September 29th. JPMorgan Chase & Co. boosted their target price on Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Wall Street Zen lowered Macro Bank from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Finally, Itau BBA Securities cut Macro Bank from an "outperform" rating to a "market perform" rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.25.

Macro Bank Stock Performance

BMA stock traded up $0.68 during midday trading on Tuesday, hitting $65.67. The company's stock had a trading volume of 274,728 shares, compared to its average volume of 307,760. The stock's 50-day moving average price is $75.48 and its 200 day moving average price is $81.32. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.26. Macro Bank has a 1 year low of $50.24 and a 1 year high of $106.15. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.29 and a beta of 1.37.

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

Institutional Investors Weigh In On Macro Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of BMA. Farther Finance Advisors LLC lifted its holdings in Macro Bank by 93.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 634 shares of the bank's stock worth $42,000 after purchasing an additional 306 shares in the last quarter. NewEdge Advisors LLC bought a new position in Macro Bank in the 2nd quarter worth about $310,000. Squarepoint Ops LLC grew its holdings in Macro Bank by 36.7% during the 2nd quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank's stock valued at $428,000 after buying an additional 1,242 shares in the last quarter. Deltec Asset Management LLC grew its holdings in Macro Bank by 51.8% during the 1st quarter. Deltec Asset Management LLC now owns 12,600 shares of the bank's stock valued at $975,000 after buying an additional 4,300 shares in the last quarter. Finally, Titan Global Capital Management USA LLC grew its holdings in Macro Bank by 5.5% during the 1st quarter. Titan Global Capital Management USA LLC now owns 13,276 shares of the bank's stock valued at $1,027,000 after buying an additional 690 shares in the last quarter.

About Macro Bank

Banco Macro SA, which trades on the New York Stock Exchange under the symbol BMA, is an Argentine financial institution serving individuals, businesses and government-related customers. The bank provides traditional banking services, including checking and savings accounts, time deposits, personal and commercial loans, credit and debit cards, payment services, foreign-exchange services and electronic banking.

Banco Macro also offers financial products for small and midsize businesses, agricultural customers and corporate clients.

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