Macro Bank Inc. (NYSE:BMA) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Macro Bank has a “Moderate Buy” consensus rating from eight analysts: five rate it a buy, one a strong buy and two a hold. The average 12-month price target is $111.25, above the reported share price of $75.25.
• The bank exceeded quarterly expectations, reporting EPS of $2.29 versus the $1.86 consensus and revenue of approximately $1 billion versus estimates of $946.46 million.
• Institutional investors have shown increased interest, with several firms initiating positions or adding shares during the first and second quarters.

Macro Bank Inc. (NYSE:BMA - Get Free Report) has been given an average rating of "Moderate Buy" by the eight ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $111.25.

Several equities research analysts recently issued reports on BMA shares. Zacks Research raised Macro Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 2nd. Itau BBA Securities downgraded Macro Bank from an "outperform" rating to a "market perform" rating in a report on Thursday, September 3rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Macro Bank in a research report on Friday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Finally, Wall Street Zen downgraded shares of Macro Bank from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 5th.

Macro Bank Trading Up 0.2%

Shares of BMA opened at $75.25 on Monday. The business's 50-day moving average price is $83.15 and its 200 day moving average price is $81.57. The stock has a market capitalization of $4.81 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.34 and a beta of 1.38. Macro Bank has a 1-year low of $38.30 and a 1-year high of $106.15. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $946.46 million. Analysts expect that Macro Bank will post 8.35 earnings per share for the current year.

Institutional Investors Weigh In On Macro Bank

Large investors have recently bought and sold shares of the business. ABS Direct Equity Fund LLC bought a new position in Macro Bank during the second quarter valued at about $2,268,000. Engineers Gate Manager LP acquired a new position in shares of Macro Bank during the 2nd quarter valued at about $1,418,000. NewEdge Advisors LLC acquired a new position in shares of Macro Bank during the 2nd quarter valued at about $310,000. Squarepoint Ops LLC raised its stake in shares of Macro Bank by 36.7% in the 2nd quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank's stock valued at $428,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Militia Capital Management LLC bought a new position in shares of Macro Bank in the 1st quarter valued at approximately $2,932,000.

About Macro Bank

Banco Macro SA, operating under the Macro Bank name and listed on the New York Stock Exchange under the symbol BMA, is an Argentine financial institution serving individuals, small and medium-sized businesses, corporations and public-sector customers. The bank provides a broad range of banking and financial services through its branch network and digital channels.

Its products and services include personal and commercial loans, checking and savings accounts, time deposits, credit and debit cards, foreign-exchange services, payment solutions, insurance and investment products.

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