Macro Bank Inc. (NYSE:BMA) Sees Significant Increase in Short Interest

Macro Bank Inc. (NYSE:BMA - Get Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 325,200 shares, a growth of 42.6% from the May 15th total of 228,000 shares. Based on an average daily volume of 357,600 shares, the short-interest ratio is presently 0.9 days. Approximately 0.5% of the shares of the company are sold short.

Macro Bank Price Performance

Shares of BMA traded down $0.40 during midday trading on Thursday, reaching $72.53. The stock had a trading volume of 195,791 shares, compared to its average volume of 318,454. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $4.63 billion, a P/E ratio of 6.36, a P/E/G ratio of 0.29 and a beta of 1.68. The firm's 50 day moving average price is $86.23 and its 200-day moving average price is $89.88. Macro Bank has a 52 week low of $42.23 and a 52 week high of $118.42.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $1.76 by ($1.11). Macro Bank had a return on equity of 1.50% and a net margin of 1.12%. The business had revenue of $759.36 million during the quarter, compared to the consensus estimate of $837.49 billion. On average, analysts forecast that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macro Bank

Hedge funds have recently made changes to their positions in the business. Militia Capital Partners LP lifted its stake in Macro Bank by 70.4% during the first quarter. Militia Capital Partners LP now owns 3,460 shares of the bank's stock valued at $261,000 after purchasing an additional 1,430 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Macro Bank by 106.5% in the first quarter. Jane Street Group LLC now owns 13,705 shares of the bank's stock valued at $1,035,000 after buying an additional 7,067 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Macro Bank by 47.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank's stock valued at $5,045,000 after acquiring an additional 21,613 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Macro Bank by 271,350.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank's stock worth $410,000 after acquiring an additional 5,427 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in shares of Macro Bank during the 1st quarter worth $704,000.

Analyst Ratings Changes

BMA has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Itau BBA Securities initiated coverage on shares of Macro Bank in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price target for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $62.13.

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.