Macro Bank (NYSE:BMA) Rating Lowered to “Hold” at HSBC

Macro Bank (NYSE:BMA) was downgraded by HSBC from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat Ratings reports. They currently have a $80.00 price objective on the bank’s stock. HSBC’s price objective would indicate a potential downside of 7.25% from the company’s current price.

Other equities analysts have also issued reports about the stock. Zacks Research upgraded shares of Macro Bank from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Citigroup upgraded Macro Bank from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. increased their price objective on Macro Bank from $79.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. UBS Group assumed coverage on Macro Bank in a research report on Wednesday, November 19th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, The Goldman Sachs Group raised Macro Bank to a “strong-buy” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Macro Bank Stock Down 2.4%

Shares of NYSE:BMA opened at $86.25 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $76.11 and a two-hundred day moving average of $67.73. The stock has a market cap of $5.51 billion, a P/E ratio of 39.03, a PEG ratio of 1.65 and a beta of 1.46. Macro Bank has a 52-week low of $38.30 and a 52-week high of $118.42.

Macro Bank (NYSE:BMA) last posted its quarterly earnings results on Wednesday, November 26th. The bank reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.06). Macro Bank had a return on equity of 8.15% and a net margin of 6.11%.The company had revenue of $668.70 million for the quarter, compared to analysts’ expectations of $590.57 million. On average, research analysts expect that Macro Bank will post 7.84 earnings per share for the current year.

Institutional Investors Weigh In On Macro Bank

A number of institutional investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Macro Bank in the 3rd quarter valued at $46,000. Voleon Capital Management LP acquired a new position in Macro Bank in the 3rd quarter valued at about $345,000. Verition Fund Management LLC purchased a new stake in Macro Bank during the third quarter worth about $506,000. Militia Capital Partners LP acquired a new stake in shares of Macro Bank during the third quarter worth about $1,776,000. Finally, Millennium Management LLC boosted its stake in shares of Macro Bank by 100.7% in the third quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock valued at $24,325,000 after purchasing an additional 288,614 shares during the period.

Macro Bank Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.