Macro Bank (NYSE:BMA) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Macro Bank's stock was given a "hold (C-)" rating by Weiss Ratings, indicating a cautious outlook from analysts.
• Despite mixed ratings from various research firms, the average rating for Macro Bank remains "Moderate Buy" with a price target of $64.13.
• Shares of Macro Bank traded down 1.1% to $57.57, with a significant fluctuation in trading volume compared to its average.

Macro Bank (NYSE:BMA - Get Free Report)'s stock had its "hold (c-)" rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Macro Bank from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. HSBC upgraded Macro Bank from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $104.00 to $80.00 in a research note on Wednesday, October 1st. JPMorgan Chase & Co. upgraded Macro Bank from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $89.00 to $79.00 in a research note on Wednesday. Citigroup cut Macro Bank from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Finally, Hsbc Global Res upgraded Macro Bank to a "strong-buy" rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $64.13.

Macro Bank Stock Down 1.1%

Shares of BMA stock traded down $0.63 during mid-day trading on Friday, hitting $57.57. The stock had a trading volume of 924,883 shares, compared to its average volume of 450,824. Macro Bank has a 12-month low of $38.30 and a 12-month high of $118.42. The firm has a market capitalization of $3.68 billion, a P/E ratio of 5.05, a price-to-earnings-growth ratio of 1.03 and a beta of 1.54. The firm's 50-day moving average is $51.75 and its two-hundred day moving average is $69.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.13 and a quick ratio of 1.13.

Macro Bank (NYSE:BMA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $1.99 by ($0.04). The company had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%. On average, analysts predict that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank during the 1st quarter valued at about $31,000. SBI Securities Co. Ltd. increased its position in Macro Bank by 19.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock valued at $59,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC increased its position in Macro Bank by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock valued at $78,000 after buying an additional 245 shares in the last quarter. Burns Matteson Capital Management LLC increased its position in Macro Bank by 30.4% during the 1st quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank's stock valued at $202,000 after buying an additional 624 shares in the last quarter. Finally, Deuterium Capital Management LLC acquired a new position in shares of Macro Bank in the first quarter valued at about $218,000.

About Macro Bank

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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