Zacks Investment Research downgraded shares of Macro Bank Inc. (NYSE:BMA) from a buy rating to a hold rating in a report issued on Tuesday, October 17th.
According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “
A number of other research analysts also recently weighed in on the company. Goldman Sachs Group, Inc. (The) downgraded Macro Bank from a buy rating to a neutral rating and set a $113.70 price target for the company. in a research note on Monday, September 11th. ValuEngine upgraded Macro Bank from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Santander downgraded Macro Bank from a hold rating to an underperform rating in a research note on Friday, September 8th. Finally, BidaskClub upgraded Macro Bank from a hold rating to a buy rating in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Macro Bank has an average rating of Hold and a consensus target price of $116.35.
Macro Bank (BMA) traded down 2.16% during trading on Tuesday, reaching $131.74. 173,625 shares of the company’s stock traded hands. The company has a 50-day moving average of $116.36 and a 200 day moving average of $96.98. Macro Bank has a 12 month low of $61.12 and a 12 month high of $136.10. The stock has a market capitalization of $8.68 billion, a P/E ratio of 21.08 and a beta of 1.36.
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Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in Macro Bank by 6.6% in the 2nd 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 in the last quarter. Bank of America Corp DE grew its position in shares of Macro Bank by 12.9% in the 1st quarter. Bank of America Corp DE now owns 97,234 shares of the bank’s stock valued at $8,430,000 after buying an additional 11,127 shares during the last quarter. Columbus Hill Capital Management L.P. bought a new stake in shares of Macro Bank in the 2nd quarter valued at about $580,000. Genesis Asset Managers LLP grew its position in shares of Macro Bank by 13.4% in the 2nd 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. Finally, American Century Companies Inc. bought a new stake in shares of Macro Bank in the 2nd quarter valued at about $10,537,000. 27.99% of the stock is owned by institutional investors and hedge funds.
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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