Macro Bank (NYSE:BMA) Rating Lowered to “Buy” at Wall Street Zen

Macro Bank (NYSE:BMA) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

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

Macro Bank Trading Up 0.2%

NYSE BMA opened at $78.72 on Friday. Macro Bank has a 12-month low of $38.30 and a 12-month high of $106.15. The company has a fifty day simple moving average of $85.98 and a two-hundred day simple moving average of $82.15. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.03 billion, a P/E ratio of 17.23, 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.43. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $946.46 million. On average, analysts forecast that Macro Bank will post 8.35 earnings per share for the current year.

Hedge Funds Weigh In On Macro Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in Macro Bank in the first quarter valued at $704,000. Jones Financial Companies Lllp boosted its stake in shares of Macro Bank by 271,350.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank’s stock worth $410,000 after acquiring an additional 5,427 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 in the last quarter. Jane Street Group LLC grew 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 acquiring an additional 7,067 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Macro Bank by 14.6% during the 2nd 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 during the period.

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.