Engineers Gate Manager LP Makes New Investment in Macro Bank Inc. $BMA

Engineers Gate Manager LP purchased a new position in shares of Macro Bank Inc. (NYSE:BMA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,310 shares of the bank's stock, valued at approximately $1,418,000.

A number of other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new position in shares of Macro Bank in the second quarter valued at approximately $310,000. Squarepoint Ops LLC increased its position in shares of Macro Bank by 36.7% during the second quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank's stock worth $428,000 after purchasing an additional 1,242 shares in the last quarter. Titan Global Capital Management USA LLC increased its position in shares of Macro Bank by 56.6% during the fourth quarter. Titan Global Capital Management USA LLC now owns 12,586 shares of the bank's stock worth $1,135,000 after purchasing an additional 4,547 shares in the last quarter. Deltec Asset Management LLC grew its holdings in shares of Macro Bank by 51.8% during the first quarter. Deltec Asset Management LLC now owns 12,600 shares of the bank's stock worth $975,000 after buying an additional 4,300 shares in the last quarter. Finally, Amundi grew its holdings in shares of Macro Bank by 107.0% during the first quarter. Amundi now owns 20,161 shares of the bank's stock worth $1,560,000 after buying an additional 10,421 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Macro Bank in a report on Friday, September 11th. Zacks Research upgraded shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. Itau BBA Securities lowered Macro Bank from an "outperform" rating to a "market perform" rating in a research report on Thursday, September 3rd. Wall Street Zen downgraded Macro Bank from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on Macro Bank from $120.00 to $132.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. One research 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's stock. According to MarketBeat, Macro Bank currently has an average rating of "Moderate Buy" and a consensus price target of $111.25.

Macro Bank Stock Up 0.8%

Macro Bank stock opened at $76.76 on Friday. The company has a market capitalization of $4.91 billion, a P/E ratio of 16.80, a PEG ratio of 0.34 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.10. Macro Bank Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $106.15. The stock has a 50-day simple moving average of $83.54 and a 200-day simple moving average of $81.58.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $946.46 million. Equities research analysts expect that Macro Bank Inc. will post 8.35 earnings per share for the current year.

Macro Bank Profile

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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