JPMorgan Chase & Co. Boosts Macro Bank (NYSE:BMA) Price Target to $132.00

Macro Bank (NYSE:BMA) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $120.00 to $132.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 47.58% from the stock’s previous close.

Several other analysts have also recently commented on BMA. The Goldman Sachs Group lowered their target price on shares of Macro Bank from $111.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. HSBC upgraded Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 5th. Zacks Research raised Macro Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Wall Street Zen upgraded Macro Bank from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $111.25.

Macro Bank Trading Down 0.3%

Shares of Macro Bank stock traded down $0.25 during mid-day trading on Thursday, hitting $89.44. 8,266 shares of the stock were exchanged, compared to its average volume of 324,883. Macro Bank has a twelve month low of $38.30 and a twelve month high of $106.15. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a 50-day simple moving average of $82.68 and a 200 day simple moving average of $84.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29.

Macro Bank (NYSE:BMA) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.31. The business had revenue of $412.19 million during the quarter, compared to analyst estimates of $837.75 million. Macro Bank had a net margin of 5.81% and a return on equity of 8.47%. Research analysts forecast that Macro Bank will post 5.2 EPS for the current year.

Institutional Trading of Macro Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PointState Capital LP raised its holdings in Macro Bank by 266.9% in the fourth quarter. PointState Capital LP now owns 857,488 shares of the bank’s stock valued at $77,311,000 after buying an additional 623,755 shares during the period. Millennium Management LLC grew 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 buying an additional 288,614 shares during the period. Aquamarine Financial Cayman Ltd increased its position in shares of Macro Bank by 23.8% in the fourth quarter. Aquamarine Financial Cayman Ltd now owns 564,501 shares of the bank’s stock worth $50,895,000 after acquiring an additional 108,540 shares in the last quarter. Cape Ann Asset Management Ltd increased its position in shares of Macro Bank by 1.3% in the first quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank’s stock worth $36,434,000 after acquiring an additional 5,892 shares in the last quarter. Finally, Fundamenta Capital S.A. acquired a new stake in shares of Macro Bank in the fourth quarter worth $17,130,000.

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.