Macro Bank (NYSE:BMA) Stock Rating Upgraded by Hsbc Global Res

Key Points

• Macro Bank has been upgraded to a "strong-buy" rating by HSBC Global Research, following changes to their price target from $104.00 to $80.00.
• Currently, the stock has an average rating of "Hold" and a consensus target price of $66.63, indicating mixed opinions from various analysts.
• Despite recently reporting earnings that missed estimates, Macro Bank shares rose by 3.4%, highlighting potential investor confidence amid varied analyst assessments.

Macro Bank (NYSE:BMA - Get Free Report) was upgraded by research analysts at Hsbc Global Res to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on BMA. HSBC raised shares of Macro Bank from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $104.00 to $80.00 in a research note on Wednesday. Zacks Research lowered Macro Bank from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Finally, Citigroup cut Macro Bank from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $66.63.

Macro Bank Stock Up 3.4%

Shares of BMA opened at $41.75 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 3.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.54. Macro Bank has a 1 year low of $38.30 and a 1 year high of $118.42. The business's 50 day simple moving average is $58.11 and its 200-day simple moving average is $72.05.

Macro Bank (NYSE:BMA - Get Free Report) last posted its earnings results 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 business had revenue of $834.78 million during the quarter, compared to analysts' expectations of $752.51 million. Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. As a group, equities analysts expect that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Institutional Trading of Macro Bank

Several institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Macro Bank during the first quarter valued at approximately $31,000. SBI Securities Co. Ltd. lifted its stake in shares of Macro Bank by 19.0% during the 1st 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 last quarter. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 245 shares during the period. Burns Matteson Capital Management LLC grew its position in Macro Bank by 30.4% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank's stock valued at $202,000 after acquiring an additional 624 shares during the last quarter. Finally, Deuterium Capital Management LLC purchased a new stake in Macro Bank in 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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