24,500 Shares in Macro Bank Inc. $BMA Acquired by ABS Direct Equity Fund LLC

Key Points

• ABS Direct Equity Fund LLC acquired 24,500 Macro Bank shares worth approximately $2.27 million, making BMA its 17th-largest holding and about 2% of its portfolio.
• Analyst sentiment is generally positive but mixed: Macro Bank has a “Moderate Buy” consensus rating from MarketBeat, with an average price target of $111.25 versus a recent share price of $79.08.
• Macro Bank exceeded quarterly expectations, reporting $2.29 in EPS against a $1.86 estimate and revenue of $1 billion versus a $946.46 million consensus forecast.

ABS Direct Equity Fund LLC acquired a new stake in Macro Bank Inc. (NYSE:BMA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,500 shares of the bank's stock, valued at approximately $2,268,000. Macro Bank comprises about 2.0% of ABS Direct Equity Fund LLC's portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of Macro Bank during the third quarter worth $46,000. Van ECK Associates Corp acquired a new position in Macro Bank in the third quarter valued at about $72,000. Mariner LLC bought a new position in Macro Bank during the fourth quarter worth about $214,000. HRT Financial LP bought a new position in Macro Bank during the fourth quarter worth about $237,000. Finally, Cibc World Market Inc. acquired a new position in shares of Macro Bank during the 4th quarter worth about $251,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Itau BBA Securities lowered shares of Macro Bank from an "outperform" rating to a "market perform" rating in a research note on Thursday, September 3rd. Zacks Research upgraded shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. Weiss Ratings upgraded shares of Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Finally, Wall Street Zen downgraded shares of Macro Bank from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Macro Bank presently has an average rating of "Moderate Buy" and an average price target of $111.25.

Macro Bank Price Performance

Shares of BMA opened at $79.08 on Friday. The stock has a 50 day simple moving average of $84.99 and a 200 day simple moving average of $81.88. Macro Bank Inc. has a 52-week low of $38.30 and a 52-week high of $106.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.10. The firm has a market capitalization of $5.05 billion, a PE ratio of 17.30, a P/E/G ratio of 0.36 and a beta of 1.38.

Macro Bank (NYSE:BMA - Get Free Report) last announced its earnings results on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $1.86 by $0.43. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $946.46 million. Sell-side analysts predict that Macro Bank Inc. will post 8.35 EPS for the current fiscal year.

Macro Bank Profile

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

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