Banco Macro SA (BMA) Receives Consensus Recommendation of “Buy” from Brokerages

Banco Macro SA (NYSE:BMA) has received a consensus rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $112.35.

Several equities analysts recently issued reports on BMA shares. Zacks Investment Research raised shares of Banco Macro from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a report on Tuesday, November 21st. Santander raised shares of Banco Macro from an “underperform” rating to a “hold” rating in a report on Wednesday, December 6th. UBS Group lowered shares of Banco Macro from an “outperform” rating to a “market perform” rating in a report on Friday, November 24th. Finally, ValuEngine lowered shares of Banco Macro from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Banco Macro by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 117,454 shares of the bank’s stock worth $10,828,000 after purchasing an additional 7,245 shares during the last quarter. Dorsey Wright & Associates grew its holdings in Banco Macro by 40.5% in the third quarter. Dorsey Wright & Associates now owns 46,047 shares of the bank’s stock worth $5,489,000 after purchasing an additional 13,267 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Banco Macro by 1.6% in the third quarter. Russell Investments Group Ltd. now owns 241,847 shares of the bank’s stock worth $28,379,000 after purchasing an additional 3,776 shares during the last quarter. Manning & Napier Advisors LLC grew its holdings in Banco Macro by 33.9% in the third quarter. Manning & Napier Advisors LLC now owns 53,890 shares of the bank’s stock worth $6,323,000 after purchasing an additional 13,650 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC grew its holdings in Banco Macro by 27.0% in the third quarter. Global X MANAGEMENT CO LLC now owns 139,584 shares of the bank’s stock worth $16,380,000 after purchasing an additional 29,637 shares during the last quarter. 31.14% of the stock is currently owned by institutional investors and hedge funds.

Banco Macro (NYSE BMA) opened at $116.22 on Friday. The stock has a market cap of $7,870.00, a P/E ratio of 17.61, a P/E/G ratio of 1.94 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.24 and a current ratio of 1.24. Banco Macro has a 1-year low of $71.14 and a 1-year high of $136.10.

Banco Macro (NYSE:BMA) last issued its quarterly earnings data on Wednesday, November 8th. The bank reported $2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.33 by ($0.09). Banco Macro had a net margin of 19.37% and a return on equity of 26.26%. equities analysts predict that Banco Macro will post 10.06 EPS for the current year.

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About Banco Macro

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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