Macro Bank (NYSE:BMA) Stock Rating Lowered by Itau BBA Securities

Macro Bank (NYSE:BMA) was downgraded by research analysts at Itau BBA Securities from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat reports.

A number of other research firms have also recently commented on BMA. Weiss Ratings upgraded shares of Macro Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Zacks Research upgraded shares of Macro Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted 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. Finally, Wall Street Zen upgraded shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.25.

Macro Bank Price Performance

Shares of BMA stock opened at $78.94 on Thursday. The stock has a 50 day moving average price of $86.46 and a 200 day moving average price of $82.26. Macro Bank has a 52-week low of $38.30 and a 52-week high of $106.15. 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 market capitalization of $5.04 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.35 and a beta of 1.38.

Macro Bank (NYSE:BMA) last announced its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.86 by $0.43. Macro Bank had a return on equity of 8.65% and a net margin of 5.95%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $946.46 million. As a group, sell-side analysts predict that Macro Bank will post 8.35 earnings per share for the current year.

Hedge Funds Weigh In On Macro Bank

Several institutional investors have recently made changes to their positions in BMA. Advisory Services Network LLC bought a new stake in shares of Macro Bank in the third quarter valued at about $46,000. SBI Securities Co. Ltd. increased its position in Macro Bank by 43.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 703 shares of the bank’s stock valued at $63,000 after purchasing an additional 214 shares during the period. Van ECK Associates Corp purchased a new position in Macro Bank during the 3rd quarter valued at about $72,000. Aquatic Capital Management LLC purchased a new position in Macro Bank during the 3rd quarter valued at about $151,000. Finally, Mariner LLC bought a new stake in shares of Macro Bank in the 4th quarter valued at about $214,000.

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.