Macro Bank (NYSE:BMA) Trading Down 4.9% - What's Next?

Macro Bank Inc. (NYSE:BMA - Get Free Report)'s share price dropped 4.9% during mid-day trading on Monday . The stock traded as low as $67.74 and last traded at $68.05. Approximately 325,658 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 349,591 shares. The stock had previously closed at $71.59.

Analyst Ratings Changes

BMA has been the subject of several analyst reports. Itau BBA Securities started coverage on shares of Macro Bank in a report on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Macro Bank currently has a consensus rating of "Hold" and a consensus price target of $62.13.

Macro Bank Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a fifty day moving average of $84.17 and a two-hundred day moving average of $89.18. The stock has a market capitalization of $4.45 billion, a P/E ratio of 6.10, a P/E/G ratio of 0.28 and a beta of 1.68.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($1.11). Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. The firm had revenue of $759.36 million during the quarter, compared to the consensus estimate of $837.49 billion. On average, analysts predict that Macro Bank Inc. will post 7.84 EPS for the current year.

Hedge Funds Weigh In On Macro Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Macro Bank by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,464 shares of the bank's stock valued at $43,227,000 after purchasing an additional 33,390 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Macro Bank by 136.1% during the fourth quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank's stock worth $55,188,000 after acquiring an additional 328,800 shares during the last quarter. Duquesne Family Office LLC grew its stake in shares of Macro Bank by 14.5% during the fourth quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank's stock worth $46,970,000 after acquiring an additional 61,300 shares during the last quarter. PointState Capital LP grew its stake in shares of Macro Bank by 25.1% during the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after acquiring an additional 68,096 shares during the last quarter. Finally, Axiom Investors LLC DE grew its stake in shares of Macro Bank by 72.8% during the fourth quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock worth $29,317,000 after acquiring an additional 127,678 shares during the last quarter.

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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