Macro Bank (NYSE:BMA) Reaches New 52-Week Low – What’s Next?

Macro Bank Inc. (NYSE:BMA) reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $57.75 and last traded at $59.05, with a volume of 25,475 shares changing hands. The stock had previously closed at $59.00.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BMA shares. Zacks Research lowered shares of Macro Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Itau BBA Securities downgraded shares of Macro Bank from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. Wall Street Zen lowered shares of Macro Bank from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. UBS Group cut their price target on shares of Macro Bank from $130.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Finally, Weiss Ratings downgraded shares of Macro Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, September 29th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.25.

Macro Bank Stock Down 3.1%

The company has a market capitalization of $3.71 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 0.27 and a beta of 1.50. 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’s fifty day moving average is $69.46 and its 200 day moving average is $80.43.

Macro Bank (NYSE:BMA) last released its quarterly earnings results on Thursday, August 20th. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.43. Macro Bank had a net margin of 5.95% and a return on equity of 8.65%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $946.46 million. Research analysts predict that Macro Bank Inc. will post 8.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Macro Bank

A number of hedge funds have recently made changes to their positions in the company. Cape Ann Asset Management Ltd lifted its position in Macro Bank by 1.3% during the first quarter. Cape Ann Asset Management Ltd now owns 470,908 shares of the bank’s stock worth $36,434,000 after acquiring an additional 5,892 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Macro Bank by 53.3% during the third 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 during the period. Absolute Gestao de Investimentos Ltda. acquired a new stake in Macro Bank during the 1st quarter worth approximately $7,815,000. Militia Capital Management LLC acquired a new stake in Macro Bank during the 1st quarter worth approximately $2,932,000. Finally, Hsbc Holdings PLC boosted its stake in Macro Bank by 85.7% in the 4th quarter. Hsbc Holdings PLC now owns 37,228 shares of the bank’s stock valued at $3,315,000 after purchasing an additional 17,185 shares during the period.

Macro Bank Company Profile

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.