Macro Bank (NYSE:BMA) Stock Rating Lowered by Zacks Research

Macro Bank (NYSE:BMA) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other analysts have also commented on the stock. Weiss Ratings lowered shares of Macro Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of Macro Bank from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. UBS Group dropped their price target on Macro Bank from $130.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Finally, Itau BBA Securities cut Macro Bank from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Macro Bank has a consensus rating of “Moderate Buy” and a consensus price target of $101.25.

Macro Bank Price Performance

Shares of NYSE BMA opened at $61.76 on Monday. Macro Bank has a twelve month low of $58.01 and a twelve month high of $106.15. The firm has a 50-day moving average of $71.27 and a two-hundred day moving average of $81.43.

Macro Bank (NYSE:BMA) last posted its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.43. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $946.46 million. Equities analysts predict that Macro Bank will post 8.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Macro Bank

Large investors have recently made changes to their positions in the company. Cape Ann Asset Management Ltd lifted its position in shares of Macro Bank by 1.3% in 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. Robeco Institutional Asset Management B.V. grew its position in Macro Bank by 53.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 273,122 shares of the bank’s stock worth $18,280,000 after purchasing an additional 95,014 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Macro Bank by 104.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 107,005 shares of the bank’s stock worth $8,279,000 after purchasing an additional 54,597 shares in the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in Macro Bank during the 1st quarter worth approximately $7,815,000. Finally, Deprince Race & Zollo Inc. raised its stake in Macro Bank by 14.1% during the 1st quarter. Deprince Race & Zollo Inc. now owns 48,541 shares of the bank’s stock valued at $3,756,000 after purchasing an additional 6,015 shares during the period.

About Macro Bank

Banco Macro SA is an Argentine financial institution headquartered in Buenos Aires and listed on the New York Stock Exchange under the symbol BMA. The bank provides banking and financial services to individuals, small and medium-sized businesses, corporate customers and public-sector entities throughout Argentina.

Its offerings include deposit accounts, personal and commercial loans, credit and debit cards, insurance, investment and cash-management products, foreign-exchange services and electronic banking.