Macro Bank (NYSE:BMA) Trading Down 4.9% - Should You Sell?

Macro Bank Inc. (NYSE:BMA - Get Free Report)'s stock price dropped 4.9% during mid-day trading on Monday . The company traded as low as $67.74 and last traded at $68.05. Approximately 325,658 shares traded hands 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.

Analysts Set New Price Targets

A number of research firms have recently commented on BMA. Itau BBA Securities assumed coverage on Macro Bank in a research note on Tuesday, May 20th. They set a "market perform" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Macro Bank from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $62.13.

Macro Bank Trading Up 0.4%

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 simple moving average of $82.81 and a two-hundred day simple moving average of $88.75. The firm has a market capitalization of $4.46 billion, a P/E ratio of 6.11, a price-to-earnings-growth ratio of 0.27 and a beta of 1.60.

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

Hedge Funds Weigh In On Macro Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMA. William Blair Investment Management LLC lifted its stake in shares of Macro Bank by 136.1% during the 4th quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank's stock valued at $55,188,000 after buying an additional 328,800 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Macro Bank by 84.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank's stock valued at $52,161,000 after acquiring an additional 247,070 shares during the period. Gemsstock Ltd. purchased a new stake in shares of Macro Bank during the fourth quarter worth $15,349,000. Axiom Investors LLC DE boosted its holdings in shares of Macro Bank by 72.8% in 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 period. Finally, GAMMA Investing LLC boosted its holdings in shares of Macro Bank by 9,810.7% in the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank's stock worth $5,867,000 after acquiring an additional 76,916 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.