Macro Bank Inc. (BMA) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Macro Bank Inc. (NYSE:BMA) from a buy rating to a hold rating in a research note released on Tuesday, October 17th.

According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “

A number of other brokerages have also weighed in on BMA. ValuEngine upgraded shares of Macro Bank from a buy rating to a strong-buy rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Macro Bank from a hold rating to a buy rating in a research report on Saturday, August 26th. Goldman Sachs Group, Inc. (The) downgraded shares of Macro Bank from a buy rating to a neutral rating and set a $113.70 price target for the company. in a research note on Monday, September 11th. Finally, Santander downgraded shares of Macro Bank from a hold rating to an underperform rating in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $116.35.

Shares of Macro Bank (NYSE BMA) traded up $4.10 during trading hours on Tuesday, hitting $122.45. 56,337 shares of the company’s stock were exchanged, compared to its average volume of 289,457. Macro Bank has a 1 year low of $61.12 and a 1 year high of $136.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $7,794.06, a price-to-earnings ratio of 15.97, a PEG ratio of 2.89 and a beta of 1.33.

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Several hedge funds and other institutional investors have recently modified their holdings of BMA. Bank of New York Mellon Corp acquired a new position in shares of Macro Bank during the first quarter valued at about $269,000. Sei Investments Co. grew its holdings in shares of Macro Bank by 36.5% during the first quarter. Sei Investments Co. now owns 4,095 shares of the bank’s stock valued at $355,000 after buying an additional 1,095 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Macro Bank by 0.7% during the first quarter. Parametric Portfolio Associates LLC now owns 37,708 shares of the bank’s stock valued at $3,269,000 after buying an additional 266 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Macro Bank during the first quarter valued at about $10,619,000. Finally, FMR LLC boosted its holdings in Macro Bank by 130.7% during the first quarter. FMR LLC now owns 43,782 shares of the bank’s stock worth $3,796,000 after purchasing an additional 24,800 shares during the last quarter. Hedge funds and other institutional investors own 27.97% of the company’s stock.

Macro Bank Company Profile

Banco Macro SA is an Argnetina-based financial institution (the Bank) that offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.

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