Macro Bank (NYSE:BMA) Cut to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Macro Bank (NYSE:BMA – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on BMA. Weiss Ratings raised Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Zacks Research upgraded Macro Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Itau BBA Securities lowered Macro Bank from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Macro Bank from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

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Macro Bank Trading Up 0.2%

NYSE BMA opened at $78.72 on Friday. 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 stock’s 50 day moving average is $85.70 and its 200 day moving average is $82.10. The firm has a market capitalization of $5.03 billion, a PE ratio of 17.23, a P/E/G ratio of 0.35 and a beta of 1.38. Macro Bank has a twelve month low of $38.30 and a twelve month high of $106.15.

Macro Bank (NYSE:BMA – Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, topping the consensus estimate of $1.86 by $0.43. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $946.46 million. Research analysts forecast that Macro Bank will post 8.35 earnings per share 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 business. NewEdge Advisors LLC bought a new position in Macro Bank during the 1st quarter valued at about $704,000. Jones Financial Companies Lllp increased its position in Macro Bank by 271,350.0% in the first quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank’s stock worth $410,000 after buying an additional 5,427 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Macro Bank by 47.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank’s stock worth $5,045,000 after acquiring an additional 21,613 shares during the period. Jane Street Group LLC raised its position in shares of Macro Bank by 106.5% during the 1st quarter. Jane Street Group LLC now owns 13,705 shares of the bank’s stock valued at $1,035,000 after purchasing an additional 7,067 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Macro Bank by 14.6% in the second quarter. JPMorgan Chase & Co. now owns 79,947 shares of the bank’s stock valued at $5,613,000 after acquiring an additional 10,211 shares in the last quarter.

About Macro Bank

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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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