Macro Bank (NYSE:BMA) Stock Gets Price Target Reduction from UBS Group

Macro Bank (NYSE:BMA) had its price target lowered by UBS Group from $130.00 to $90.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the bank’s stock.

BMA has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on Macro Bank from $120.00 to $132.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings lowered Macro Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 29th. Itau BBA Securities cut Macro Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen downgraded Macro Bank from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.25.

Macro Bank Trading Up 2.0%

BMA opened at $65.06 on Tuesday. The firm’s 50 day moving average is $74.02 and its 200-day moving average is $81.19. Macro Bank has a 52-week low of $51.35 and a 52-week high of $106.15. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4.16 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.29 and a beta of 1.37.

Macro Bank (NYSE:BMA) last announced 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $946.46 million. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. Analysts expect that Macro Bank will post 8.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Macro Bank

A number of hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in Macro Bank by 93.3% in the third quarter. Farther Finance Advisors LLC now owns 634 shares of the bank’s stock valued at $42,000 after buying an additional 306 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in Macro Bank during the second quarter valued at approximately $2,268,000. Engineers Gate Manager LP bought a new position in Macro Bank during the 2nd quarter worth approximately $1,418,000. NewEdge Advisors LLC bought a new position in Macro Bank during the 2nd quarter worth approximately $310,000. Finally, Squarepoint Ops LLC lifted its holdings in Macro Bank by 36.7% during the 2nd quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank’s stock worth $428,000 after buying an additional 1,242 shares during the last quarter.

Macro Bank Company Profile

Banco Macro SA, which trades on the New York Stock Exchange under the symbol BMA, is an Argentine financial institution serving individuals, businesses and government-related customers. The bank provides traditional banking services, including checking and savings accounts, time deposits, personal and commercial loans, credit and debit cards, payment services, foreign-exchange services and electronic banking.

Banco Macro also offers financial products for small and midsize businesses, agricultural customers and corporate clients.