Macro Bank (NYSE:BMA) Upgraded by Hsbc Global Res to “Strong-Buy” Rating

Macro Bank (NYSE:BMA) was upgraded by research analysts at Hsbc Global Res to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Citigroup lowered Macro Bank from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Zacks Research downgraded shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Finally, HSBC upgraded shares of Macro Bank from a “hold” rating to a “buy” rating and reduced their price target for the company from $104.00 to $80.00 in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.63.

Macro Bank Stock Performance

Macro Bank stock opened at $41.75 on Wednesday. The company has a 50 day moving average price of $58.11 and a 200-day moving average price of $72.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.13. Macro Bank has a fifty-two week low of $38.30 and a fifty-two week high of $118.42. The company has a market capitalization of $2.67 billion, a PE ratio of 3.66, a P/E/G ratio of 0.75 and a beta of 1.54.

Macro Bank (NYSE:BMA) last announced its quarterly earnings data on Wednesday, August 27th. The bank reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.04). The firm had revenue of $834.78 million during the quarter, compared to the consensus estimate of $752.51 million. Macro Bank had a return on equity of 10.99% and a net margin of 8.32%. As a group, equities analysts forecast that Macro Bank will post 7.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BMA. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Macro Bank during the first quarter valued at approximately $31,000. SBI Securities Co. Ltd. increased its position in shares of Macro Bank by 19.0% during the first quarter. SBI Securities Co. Ltd. now owns 775 shares of the bank’s stock worth $59,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Macro Bank by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 1,029 shares of the bank’s stock valued at $78,000 after purchasing an additional 245 shares during the last quarter. Burns Matteson Capital Management LLC lifted its holdings in shares of Macro Bank by 30.4% during the 1st quarter. Burns Matteson Capital Management LLC now owns 2,679 shares of the bank’s stock valued at $202,000 after purchasing an additional 624 shares during the last quarter. Finally, Deuterium Capital Management LLC acquired a new stake in shares of Macro Bank in the 1st quarter worth $218,000.

Macro Bank Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.