Macro Bank (NYSE:BMA) Stock Price Up 4.5% - Here's Why

Key Points

• Macro Bank shares rose 4.5% to $79.48 in mid-day trading, although trading volume was about 70% below the average session.
• Analyst sentiment has strengthened, with HSBC, JPMorgan, Weiss Ratings, Wall Street Zen and Zacks Research issuing upgrades or more favorable views. The stock has a consensus “Buy” rating and a $111.25 price target.
• The bank exceeded quarterly expectations, reporting $2.29 in earnings per share versus the $1.86 consensus and revenue of $1 billion versus estimates of $946.46 million; several institutional investors also significantly increased their holdings.

Macro Bank Inc. (NYSE:BMA - Get Free Report) shot up 4.5% during mid-day trading on Monday . The stock traded as high as $79.56 and last traded at $79.48. Approximately 94,644 shares were traded during trading, a decline of 70% from the average session volume of 310,445 shares. The stock had previously closed at $76.05.

Wall Street Analyst Weigh In

Several research analysts have commented on BMA shares. HSBC upgraded shares of Macro Bank from a "hold" rating to a "buy" rating and set a $85.00 target price for the company in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. raised their price objective on shares of Macro Bank from $120.00 to $132.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of Macro Bank from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Finally, Zacks Research raised shares of Macro Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Macro Bank currently has a consensus rating of "Buy" and a consensus price target of $111.25.

Macro Bank Stock Performance

The stock has a market capitalization of $5.04 billion, a PE ratio of 17.26, a P/E/G ratio of 0.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.10. The firm has a 50 day moving average of $87.37 and a 200-day moving average of $82.54.

Macro Bank (NYSE:BMA - Get Free Report) last released its earnings results on Thursday, August 20th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.43. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $946.46 million. Macro Bank had a return on equity of 8.65% and a net margin of 5.95%. Research analysts forecast that Macro Bank Inc. will post 8.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMA. PointState Capital LP grew its holdings in shares of Macro Bank by 266.9% during the 4th quarter. PointState Capital LP now owns 857,488 shares of the bank's stock valued at $77,311,000 after acquiring an additional 623,755 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 288,614 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Macro Bank by 1,060.6% during the fourth quarter. Verition Fund Management LLC now owns 138,760 shares of the bank's stock worth $12,511,000 after acquiring an additional 126,804 shares in the last quarter. Marshall Wace LLP boosted its position in Macro Bank by 4,089.3% during the second quarter. Marshall Wace LLP now owns 120,191 shares of the bank's stock valued at $8,439,000 after purchasing an additional 117,322 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in Macro Bank during the fourth quarter valued at $10,378,000.

About Macro Bank

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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