ValuEngine upgraded shares of Macro Bank Inc. (NYSE:BMA) from a buy rating to a strong-buy rating in a report released on Friday morning.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Macro Bank from a hold rating to a buy rating and set a $97.00 target price on the stock in a report on Friday, June 16th. Credit Suisse Group raised Macro Bank from a neutral rating to an outperform rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Macro Bank currently has an average rating of Buy and a consensus price target of $92.75.
Macro Bank (NYSE BMA) traded up 0.01% during midday trading on Friday, hitting $88.07. 80,824 shares of the company traded hands. The stock has a 50 day moving average of $88.99 and a 200 day moving average of $84.95. Macro Bank has a 12-month low of $61.12 and a 12-month high of $97.86. The stock has a market cap of $51.48 billion, a P/E ratio of 128.38 and a beta of 1.41.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment Corp IL bought a new position in Macro Bank during the first quarter worth $206,000. Bailard Inc. bought a new position in Macro Bank during the first quarter worth $220,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Macro Bank during the first quarter worth $269,000. Bank of New York Mellon Corp bought a new position in Macro Bank during the first quarter worth $269,000. Finally, Gramercy Funds Management LLC bought a new position in Macro Bank during the first quarter worth $274,000. 23.52% of the stock is currently owned by hedge funds and other institutional investors.
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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