Macro Bank Inc. (BMA) Receives Consensus Recommendation of “Buy” from Brokerages
Macro Bank Inc. (NYSE:BMA) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $116.35.
BMA has been the topic of a number of research analyst reports. Credit Suisse Group upgraded shares of Macro Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered shares of Macro Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. ValuEngine upgraded shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Macro Bank from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th.
A number of institutional investors have recently bought and sold shares of BMA. Carmignac Gestion grew its position in Macro Bank by 540.5% in the second quarter. Carmignac Gestion now owns 1,746,620 shares of the bank’s stock worth $161,021,000 after buying an additional 1,473,904 shares during the last quarter. PointState Capital LP grew its position in Macro Bank by 179.4% in the second quarter. PointState Capital LP now owns 1,717,800 shares of the bank’s stock worth $158,364,000 after buying an additional 1,102,900 shares during the last quarter. Third Point LLC acquired a new position in Macro Bank in the second quarter worth approximately $82,971,000. Bamco Inc. NY acquired a new position in Macro Bank in the second quarter worth approximately $35,538,000. Finally, Alliancebernstein L.P. grew its position in Macro Bank by 127.0% in the second quarter. Alliancebernstein L.P. now owns 522,292 shares of the bank’s stock worth $48,150,000 after buying an additional 292,249 shares during the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.
Shares of Macro Bank (NYSE BMA) opened at 103.94 on Friday. Macro Bank has a 12-month low of $61.12 and a 12-month high of $108.99. The company has a 50 day moving average price of $97.41 and a 200-day moving average price of $89.65. The firm has a market cap of $6.85 billion, a PE ratio of 16.60 and a beta of 1.37.
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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