Zacks Research Upgrades Macro Bank (NYSE:BMA) to Strong-Buy

Macro Bank (NYSE:BMA) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on BMA. HSBC raised Macro Bank from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Macro Bank in a report on Friday, March 27th. Wall Street Zen raised Macro Bank from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Finally, The Goldman Sachs Group reduced their target price on Macro Bank from $111.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Macro Bank Price Performance

Macro Bank stock opened at $86.29 on Tuesday. The stock’s fifty day moving average price is $77.25 and its two-hundred day moving average price is $83.05. Macro Bank has a one year low of $38.30 and a one year high of $106.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $5.51 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.42.

Macro Bank (NYSE:BMA) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.31. Macro Bank had a return on equity of 8.47% and a net margin of 5.81%.The firm had revenue of $412.19 million for the quarter, compared to analyst estimates of $837.76 million. As a group, research analysts expect that Macro Bank will post 5.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Macro Bank

Several hedge funds have recently modified their holdings of the company. Amundi boosted its holdings in shares of Macro Bank by 107.0% during the 1st quarter. Amundi now owns 20,161 shares of the bank’s stock valued at $1,560,000 after acquiring an additional 10,421 shares in the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Macro Bank during the 1st quarter valued at $7,815,000. Cape Ann Asset Management Ltd boosted its holdings in shares of Macro Bank by 1.3% during the 1st quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank’s stock valued at $36,434,000 after acquiring an additional 5,892 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of Macro Bank during the 1st quarter valued at $2,932,000. Finally, Titan Global Capital Management USA LLC boosted its holdings in shares of Macro Bank by 5.5% during the 1st quarter. Titan Global Capital Management USA LLC now owns 13,276 shares of the bank’s stock valued at $1,027,000 after acquiring an additional 690 shares in the last quarter.

About Macro Bank

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.