Macro Bank Inc. (NYSE:BMA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

Several other research analysts have also recently issued reports on BMA. ValuEngine upgraded shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Credit Suisse Group upgraded shares of Macro Bank from a “neutral” rating to an “outperform” rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $92.75.

Macro Bank (BMA) traded down 3.15% during trading on Wednesday, hitting $84.65. 104,355 shares of the stock were exchanged. The stock’s 50 day moving average price is $88.80 and its 200 day moving average price is $85.37. The stock has a market cap of $49.48 billion, a P/E ratio of 126.15 and a beta of 1.39. Macro Bank has a 12 month low of $61.12 and a 12 month high of $97.86.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Rational Advisors LLC boosted its position in shares of Macro Bank by 64.3% in the second quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock valued at $212,000 after buying an additional 900 shares during the last quarter. Rothschild Investment Corp IL bought a new position in shares of Macro Bank during the first quarter valued at about $206,000. Bailard Inc. bought a new position in shares of Macro Bank during the first quarter valued at about $220,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Macro Bank during the first quarter valued at about $269,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Macro Bank during the first quarter valued at about $269,000. Institutional investors and hedge funds own 23.69% 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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