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

Macro Bank (NYSE:BMA) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has a $85.00 price objective on the bank’s stock. HSBC’s target price indicates a potential upside of 22.87% from the company’s previous close.

Several other research analysts have also commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Macro Bank in a report on Friday, March 27th. Zacks Research upgraded shares of Macro Bank from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. The Goldman Sachs Group cut their price target on shares of Macro Bank from $111.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Macro Bank from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.60.

Macro Bank Stock Performance

NYSE:BMA opened at $69.18 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.42 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.54 and a beta of 1.36. Macro Bank has a fifty-two week low of $38.30 and a fifty-two week high of $106.15. The firm’s 50 day moving average is $76.06 and its two-hundred day moving average is $82.56.

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

Institutional Trading of Macro Bank

A number of hedge funds have recently made changes to their positions in the company. Deltec Asset Management LLC raised its stake in shares of Macro Bank by 51.8% during the first quarter. Deltec Asset Management LLC now owns 12,600 shares of the bank’s stock valued at $975,000 after purchasing an additional 4,300 shares during the period. Deprince Race & Zollo Inc. raised its stake in shares of Macro Bank by 14.1% during the first quarter. Deprince Race & Zollo Inc. now owns 48,541 shares of the bank’s stock valued at $3,756,000 after purchasing an additional 6,015 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of Macro Bank by 104.2% during the first quarter. Pictet Asset Management Holding SA now owns 107,005 shares of the bank’s stock valued at $8,279,000 after purchasing an additional 54,597 shares during the period. Hsbc Holdings PLC raised its stake in shares of Macro Bank by 85.7% during the fourth quarter. Hsbc Holdings PLC now owns 37,228 shares of the bank’s stock valued at $3,315,000 after purchasing an additional 17,185 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in shares of Macro Bank during the fourth quarter valued at approximately $6,762,000.

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.