Macro Bank Inc. (BMA) Cut to Underperform at Santander
Macro Bank Inc. (NYSE:BMA) was downgraded by equities researchers at Santander from a “hold” rating to an “underperform” rating in a report released on Friday, The Fly reports.
Several other equities research analysts also recently issued reports on BMA. Zacks Investment Research raised Macro Bank from a “hold” rating to a “strong-buy” rating and set a $101.00 price target for the company in a report on Thursday, May 11th. Credit Suisse Group raised Macro Bank from a “neutral” rating to an “outperform” rating in a report on Tuesday, June 13th. Finally, ValuEngine raised Macro Bank from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $102.75.
Shares of Macro Bank (NYSE BMA) traded down 2.04% during trading on Friday, reaching $103.82. 67,877 shares of the company were exchanged. The company has a 50 day moving average price of $94.81 and a 200-day moving average price of $88.75. Macro Bank has a one year low of $61.12 and a one year high of $108.99. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 16.69 and a beta of 1.37.
A number of hedge funds have recently bought and sold shares of the business. Blockhouse Capital Management LP bought a new position in Macro Bank during the 2nd quarter worth $4,361,000. The Manufacturers Life Insurance Company increased its position in Macro Bank by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,454 shares of the bank’s stock worth $10,828,000 after buying an additional 7,245 shares during the period. TT International increased its position in Macro Bank by 30.8% during the 2nd quarter. TT International now owns 242,593 shares of the bank’s stock worth $22,364,000 after buying an additional 57,070 shares during the period. Alpine Global Management LLC increased its position in Macro Bank by 153.7% during the 2nd quarter. Alpine Global Management LLC now owns 10,980 shares of the bank’s stock worth $1,012,000 after buying an additional 6,652 shares during the period. Finally, Caxton Associates LP increased its position in Macro Bank by 60.9% during the 2nd quarter. Caxton Associates LP now owns 45,431 shares of the bank’s stock worth $4,188,000 after buying an additional 17,196 shares during the period. Hedge funds and other institutional investors own 31.54% of the company’s stock.
About Macro Bank
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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