Citigroup Reaffirms "Neutral" Rating for Macro Bank (NYSE:BMA)

Key Points

• Citigroup has maintained a "neutral" rating for Macro Bank (NYSE:BMA), indicating cautious sentiment toward the stock.
• Macro Bank's stock price is currently around $47.27, while analysts set a consensus target price of $62.17.
• The bank reported Q2 earnings of $1.95 EPS, missing estimates by $0.04, amidst a revenue of $834.78 million, exceeding expectations.

Macro Bank (NYSE:BMA - Get Free Report)'s stock had its "neutral" rating reiterated by Citigroup in a research report issued to clients and investors on Thursday,Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Itau BBA Securities initiated coverage on Macro Bank in a research report on Tuesday, May 20th. They set a "market perform" rating and a $85.00 price target on the stock. Zacks Research cut Macro Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Macro Bank presently has a consensus rating of "Hold" and an average target price of $62.17.

Macro Bank Price Performance

NYSE BMA opened at $47.27 on Thursday. The company has a market cap of $3.02 billion, a PE ratio of 4.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.68. Macro Bank has a 52 week low of $43.90 and a 52 week high of $118.42. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm's 50-day simple moving average is $65.50 and its two-hundred day simple moving average is $76.43.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.04). The business had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.94%. Research analysts predict that Macro Bank will post 7.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Macro Bank by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock worth $43,227,000 after purchasing an additional 33,390 shares during the last quarter. PointState Capital LP increased its position in shares of Macro Bank by 25.1% in the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after purchasing an additional 68,096 shares during the last quarter. Gemsstock Ltd. increased its position in shares of Macro Bank by 30.3% in the first quarter. Gemsstock Ltd. now owns 206,725 shares of the bank's stock worth $15,610,000 after purchasing an additional 48,100 shares during the last quarter. Sagil Capital LLP bought a new position in shares of Macro Bank in the second quarter worth approximately $10,094,000. Finally, Marshall Wace LLP grew its position in 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 acquiring an additional 117,322 shares during 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.

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