Macro Bank (NYSE:BMA) Stock Rating Upgraded by JPMorgan Chase & Co.

Macro Bank (NYSE:BMA - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $79.00 target price on the bank's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 48.82% from the stock's previous close.

Several other analysts also recently weighed in on BMA. Zacks Research downgraded Macro Bank from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Macro Bank in a research note on Wednesday, October 8th. Hsbc Global Res raised Macro Bank to a "strong-buy" rating in a research report on Wednesday, October 1st. Citigroup cut Macro Bank from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Finally, HSBC raised 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 report 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.13.

Macro Bank Stock Up 0.6%

Macro Bank stock opened at $53.09 on Wednesday. Macro Bank has a fifty-two week low of $38.30 and a fifty-two week high of $118.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $3.39 billion, a P/E ratio of 4.65, a PEG ratio of 0.98 and a beta of 1.54. The stock has a 50-day simple moving average of $52.31 and a 200-day simple moving average of $69.36.

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 the consensus estimate of $1.99 by ($0.04). Macro Bank had a net margin of 8.32% and a return on equity of 10.99%. The firm had revenue of $834.78 million during the quarter, compared to analysts' expectations of $752.51 million. Equities research analysts expect that Macro Bank will post 7.84 earnings per share for the current year.

Institutional Trading of Macro Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Macro Bank by 11.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 56,568 shares of the bank's stock valued at $4,271,000 after buying an additional 5,629 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Macro Bank in the first quarter valued at approximately $557,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Macro Bank in the first quarter valued at approximately $31,000. Cetera Investment Advisers boosted its stake in Macro Bank by 46.2% in the first quarter. Cetera Investment Advisers now owns 13,476 shares of the bank's stock valued at $1,018,000 after acquiring an additional 4,261 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Macro Bank by 21.6% in the first quarter. Hsbc Holdings PLC now owns 29,754 shares of the bank's stock valued at $2,271,000 after acquiring an additional 5,284 shares during the period.

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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