Macro Bank (NYSE:BMA) Stock Rating Lowered by HSBC

Macro Bank (NYSE:BMA) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research report issued on Monday,Finviz reports. They currently have a $80.00 target price on the bank’s stock. HSBC’s target price suggests a potential downside of 6.92% from the stock’s previous close.

A number of other analysts have also issued reports on BMA. Itau BBA Securities raised shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. Zacks Research upgraded shares of Macro Bank from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. UBS Group began coverage on shares of Macro Bank in a research report on Wednesday, November 19th. They issued a “buy” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Macro Bank from $79.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group raised shares of Macro Bank to a “strong-buy” rating in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Macro Bank presently has an average rating of “Moderate Buy” and a consensus price target of $85.50.

Macro Bank Stock Down 1.2%

BMA stock traded down $1.02 during midday trading on Monday, hitting $85.95. The company’s stock had a trading volume of 40,121 shares, compared to its average volume of 472,595. The firm’s 50-day moving average is $74.34 and its 200-day moving average is $67.69. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30. Macro Bank has a 12 month low of $38.30 and a 12 month high of $118.42. The company has a market cap of $5.49 billion, a PE ratio of 38.89, a P/E/G ratio of 1.62 and a beta of 1.47.

Macro Bank (NYSE:BMA) last issued its quarterly earnings data on Wednesday, November 26th. The bank reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.06). The business had revenue of $668.70 million for the quarter, compared to the consensus estimate of $590.57 million. Macro Bank had a net margin of 6.11% and a return on equity of 8.15%. On average, equities research analysts forecast that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Macro Bank

A number of institutional investors and hedge funds have recently bought and sold shares of BMA. Advisory Services Network LLC acquired a new stake in shares of Macro Bank during the third quarter worth about $46,000. Van ECK Associates Corp purchased a new stake in Macro Bank during the 3rd quarter valued at approximately $72,000. Advisors Preferred LLC purchased a new stake in Macro Bank during the 3rd quarter valued at approximately $117,000. Aquatic Capital Management LLC acquired a new stake in Macro Bank during the 3rd quarter worth approximately $151,000. Finally, Quantbot Technologies LP grew its stake in shares of Macro Bank by 46.8% in the 3rd quarter. Quantbot Technologies LP now owns 4,856 shares of the bank’s stock valued at $205,000 after purchasing an additional 1,548 shares during the last quarter.

About Macro Bank

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.