Macro Bank Inc. (NYSE:BMA) Stock Has Average Price Target of $101.25 According to Brokerages

Key Points

• Analyst consensus is “Moderate Buy” for Macro Bank, with five buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $101.25, well above the stock’s reported opening price of $65.06.
• Recent analyst views have been mixed: JPMorgan raised its target to $132, while UBS cut its target to $90; other firms also downgraded their ratings.
• Macro Bank exceeded quarterly expectations, reporting $2.29 in EPS versus the $1.86 consensus and $1 billion in revenue versus estimates of $946.46 million. Several institutional investors also recently initiated or increased positions in the stock.

Shares of Macro Bank Inc. (NYSE:BMA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $101.25.

BMA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. UBS Group decreased their target price on Macro Bank from $130.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday. Wall Street Zen downgraded Macro Bank from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Weiss Ratings downgraded Macro Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, September 29th. Finally, Itau BBA Securities cut shares of Macro Bank from an "outperform" rating to a "market perform" rating in a report on Thursday, September 3rd.

Macro Bank Price Performance

Shares of NYSE:BMA opened at $65.06 on Friday. The firm has a 50 day moving average of $74.02 and a 200-day moving average of $81.19. The stock has a market capitalization of $4.16 billion, a PE ratio of 14.24, a PEG ratio of 0.29 and a beta of 1.37. 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 has a 12 month low of $51.35 and a 12 month high of $106.15.

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

Institutional Investors Weigh In On Macro Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP bought a new position in Macro Bank in the 2nd quarter valued at approximately $1,418,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in Macro Bank in the first quarter valued at approximately $7,815,000. Militia Capital Management LLC acquired a new stake in Macro Bank in the first quarter valued at approximately $2,932,000. Hsbc Holdings PLC boosted its position in Macro Bank by 85.7% in the fourth quarter. Hsbc Holdings PLC now owns 37,228 shares of the bank's stock valued at $3,315,000 after buying an additional 17,185 shares in the last quarter. Finally, ABS Direct Equity Fund LLC bought a new stake in shares of Macro Bank during the second quarter worth $2,268,000.

Macro Bank Company Profile

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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