Macro Bank (NYSE:BMA) Receives "Hold (C-)" Rating from Weiss Ratings

Key Points

• Macro Bank's stock received a "Hold (C-)" rating from Weiss Ratings, while HSBC upgraded it from "Hold" to "Buy" with a price target cut to $80.
• The company's stock traded at $43.94, with a 52-week range between $38.30 and $118.42, and a consensus target price of $66.63 from analysts.
• Macro Bank reported $1.95 EPS for the last quarter, missing expectations slightly, but with revenues exceeding forecasts at $834.78 million.

Macro Bank (NYSE:BMA - Get Free Report)'s stock had its "hold (c-)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the company. HSBC upgraded Macro Bank from a "hold" rating to a "buy" rating and cut their price objective for the stock from $104.00 to $80.00 in a research note on Wednesday, October 1st. Citigroup lowered Macro Bank from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Zacks Research lowered Macro Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Finally, Hsbc Global Res upgraded Macro Bank to a "strong-buy" rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.63.

Macro Bank Price Performance

NYSE:BMA traded up $1.41 during trading hours on Wednesday, hitting $43.94. 324,132 shares of the stock were exchanged, compared to its average volume of 424,535. Macro Bank has a 52-week low of $38.30 and a 52-week high of $118.42. The firm's fifty day moving average price is $56.39 and its 200 day moving average price is $71.20. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.81 billion, a P/E ratio of 3.85, a P/E/G ratio of 0.81 and a beta of 1.54.

Macro Bank (NYSE:BMA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.04). Macro Bank had a return on equity of 10.99% and a net margin of 8.32%.The firm had revenue of $834.78 million for the quarter, compared to analysts' expectations of $752.51 million. As a group, equities research analysts anticipate that Macro Bank will post 7.84 EPS 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. purchased a new position in Macro Bank in the first quarter worth approximately $31,000. SBI Securities Co. Ltd. grew its position in Macro Bank by 19.0% in the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank's stock worth $59,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC grew its position in Macro Bank by 31.3% in the first quarter. GAMMA Investing LLC now owns 1,029 shares of the bank's stock worth $78,000 after acquiring an additional 245 shares during the period. Burns Matteson Capital Management LLC lifted its stake in Macro Bank by 30.4% during the first quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank's stock worth $202,000 after purchasing an additional 624 shares in the last quarter. Finally, Deuterium Capital Management LLC acquired a new position in Macro Bank during the first quarter worth $218,000.

Macro Bank Company Profile

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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