Macro Bank Inc. (NYSE:BMA) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 290,942 shares, a decline of 50.2% from the June 15th total of 584,685 shares. Based on an average daily volume of 422,362 shares, the short-interest ratio is currently 0.7 days.
Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Macro Bank by 278.7% in the fourth quarter. Renaissance Technologies LLC now owns 82,500 shares of the bank’s stock valued at $5,309,000 after buying an additional 60,715 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Macro Bank during the fourth quarter valued at about $418,000. Manning & Napier Advisors LLC bought a new stake in Macro Bank during the first quarter valued at about $3,682,000. Rothschild Investment Corp IL bought a new stake in Macro Bank during the first quarter valued at about $206,000. Finally, Nationwide Fund Advisors raised its stake in Macro Bank by 24.1% in the first quarter. Nationwide Fund Advisors now owns 67,000 shares of the bank’s stock valued at $5,809,000 after buying an additional 13,000 shares during the last quarter. 23.52% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the company. Zacks Investment Research raised Macro Bank from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Monday, June 5th. Credit Suisse Group raised Macro Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 13th. Finally, ValuEngine raised Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Macro Bank has an average rating of “Buy” and a consensus target price of $92.75.
Macro Bank (BMA) opened at 88.07 on Friday. Macro Bank has a 52 week low of $61.12 and a 52 week high of $97.86. The firm has a 50-day moving average price of $88.99 and a 200-day moving average price of $84.95. The stock has a market capitalization of $51.48 billion, a PE ratio of 128.38 and a beta of 1.41.
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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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