Macro Bank Inc. (NYSE:BMA) was the target of a large decline in short interest in 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 trading volume of 422,362 shares, the short-interest ratio is currently 0.7 days.
Shares of Macro Bank (NYSE:BMA) traded down 0.20% during midday trading on Friday, reaching $87.95. 86,228 shares of the company were exchanged. The stock has a 50-day moving average price of $88.75 and a 200 day moving average price of $85.31. Macro Bank has a 52-week low of $61.12 and a 52-week high of $97.86. The company has a market capitalization of $51.41 billion, a P/E ratio of 128.21 and a beta of 1.39.
Several equities analysts have recently commented on BMA shares. Zacks Investment Research cut shares of Macro Bank from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group upgraded shares of Macro Bank from a “neutral” rating to an “outperform” rating in a report on Tuesday, June 13th. Finally, ValuEngine upgraded shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Macro Bank has a consensus rating of “Buy” and an average target price of $92.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Genesis Asset Managers LLP increased its position in Macro Bank by 13.4% in the second quarter. Genesis Asset Managers LLP now owns 1,155,491 shares of the bank’s stock valued at $106,525,000 after buying an additional 136,358 shares during the last quarter. Wellington Management Group LLP acquired a new position in Macro Bank during the first quarter valued at $10,619,000. Comgest Global Investors S.A.S. increased its position in Macro Bank by 861.3% in the first quarter. Comgest Global Investors S.A.S. now owns 114,400 shares of the bank’s stock valued at $9,918,000 after buying an additional 102,500 shares during the last quarter. William Blair Investment Management LLC increased its position in Macro Bank by 31.3% in the first quarter. William Blair Investment Management LLC now owns 406,520 shares of the bank’s stock valued at $35,245,000 after buying an additional 96,884 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Macro Bank by 32.7% in the first quarter. Goldman Sachs Group Inc. now owns 290,159 shares of the bank’s stock valued at $25,157,000 after buying an additional 71,558 shares during the last quarter. Hedge funds and other institutional investors own 23.58% of the company’s stock.
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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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