Analysts Set Macro Bank Inc. (NYSE:BMA) Price Target at $111.25

Macro Bank Inc. (NYSE:BMA) has received an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $111.25.

A number of equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Macro Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Wall Street Zen cut Macro Bank from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Itau BBA Securities downgraded Macro Bank from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Macro Bank in a research note on Friday, September 11th.

Hedge Funds Weigh In On Macro Bank

Several hedge funds and other institutional investors have recently bought and sold shares of BMA. ABS Direct Equity Fund LLC purchased a new position in Macro Bank during the 2nd quarter worth approximately $2,268,000. Engineers Gate Manager LP purchased a new stake in shares of Macro Bank in the 2nd quarter valued at $1,418,000. NewEdge Advisors LLC acquired a new stake in shares of Macro Bank in the second quarter worth $310,000. Squarepoint Ops LLC increased its stake in shares of Macro Bank by 36.7% in the second quarter. Squarepoint Ops LLC now owns 4,623 shares of the bank’s stock worth $428,000 after acquiring an additional 1,242 shares during the period. Finally, Militia Capital Management LLC purchased a new position in shares of Macro Bank during the first quarter worth $2,932,000.

Macro Bank Stock Down 3.1%

Shares of BMA stock opened at $72.32 on Monday. Macro Bank has a 1-year low of $39.30 and a 1-year high of $106.15. The stock’s fifty day moving average price is $82.01 and its 200 day moving average price is $81.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 1.08. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.34 and a beta of 1.38.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Thursday, August 20th. The bank reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.43. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $946.46 million. Macro Bank had a return on equity of 8.65% and a net margin of 5.95%. On average, research analysts expect that Macro Bank will post 8.35 earnings per share for the current fiscal year.

About Macro Bank

Banco Macro SA, operating under the Macro Bank name and listed on the New York Stock Exchange under the symbol BMA, is an Argentine financial institution serving individuals, small and medium-sized businesses, corporations and public-sector customers. The bank provides a broad range of banking and financial services through its branch network and digital channels.

Its products and services include personal and commercial loans, checking and savings accounts, time deposits, credit and debit cards, foreign-exchange services, payment solutions, insurance and investment products.