Macro Bank (NYSE:BMA) Upgraded by HSBC to Buy Rating

Key Points

• HSBC upgraded Macro Bank (NYSE: BMA) from a "hold" to a "buy" and set a $85 target price, implying roughly a 22.9% upside from the prior close.
• Analyst sentiment is broadly positive with six Buy, one Hold and one Sell rating, a consensus price target of $103.60 and an average rating of "Moderate Buy."
• BMA shares opened at $69.18 (market cap ~ $4.42B) and have attracted significant institutional buying—PointState raised its stake by 266.9%—while the stock's 12‑month range is $38.30 to $106.15.

Macro Bank (NYSE:BMA - Get Free Report) was upgraded by investment analysts at HSBC from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $85.00 target price on the bank's stock. HSBC's target price suggests a potential upside of 22.87% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Macro Bank from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. Zacks Research raised shares of Macro Bank from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Macro Bank in a research note on Friday, March 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Macro Bank from $111.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.60.

Macro Bank Stock Up 0.5%

BMA stock opened at $69.18 on Tuesday. The company's 50 day simple moving average is $76.06 and its 200-day simple moving average is $82.56. The firm has a market capitalization of $4.42 billion, a PE ratio of 21.03, a P/E/G ratio of 0.54 and a beta of 1.36. Macro Bank has a 12 month low of $38.30 and a 12 month high of $106.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.11.

Macro Bank (NYSE:BMA - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The bank reported $0.11 EPS for the quarter. Macro Bank had a net margin of 4.99% and a return on equity of 6.85%. The business had revenue of $312.24 million for the quarter. Equities analysts expect that Macro Bank will post 4.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Macro Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. PointState Capital LP raised its stake in Macro Bank by 266.9% during the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank's stock worth $77,311,000 after purchasing an additional 623,755 shares during the period. Millennium Management LLC raised its stake in Macro Bank by 100.7% during the third quarter. Millennium Management LLC now owns 575,206 shares of the bank's stock worth $24,325,000 after purchasing an additional 288,614 shares during the period. Aquamarine Financial Cayman Ltd raised its stake in Macro Bank by 23.8% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 564,501 shares of the bank's stock worth $50,895,000 after purchasing an additional 108,540 shares during the period. Cape Ann Asset Management Ltd raised its stake in Macro Bank by 0.8% during the fourth quarter. Cape Ann Asset Management Ltd now owns 465,016 shares of the bank's stock worth $41,926,000 after purchasing an additional 3,800 shares during the period. Finally, Candriam S.C.A. purchased a new position in Macro Bank during the third quarter worth approximately $13,643,000.

Macro Bank Company Profile

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

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